The Eastern Caribbean Central Bank (ECCB) was the first bank in the Caribbean Region to put out a full suite of polymer notes with embedded features for the blind and visually impaired. The bank has now made history once again with the introduction of a digital currency, the digital EC Dollar.
The digital EC Dollar is currently in its pilot phase and forms part of the ECCB’s Strategic Plan 2017-2021 which aims to help reduce cash usage within the ECCU by 50%, promote greater financial sector stability, and expedite the growth and development of our member countries.
COVID-19 has propelled discussions around digital currency and cashless transactions not only for hygienic and social distancing reasons but also for the swiftness, efficiency, and comfort of successfully completing business transactions. But is the local banking and business community in favor of or prepared for this digital revolution.