{"id":126506,"date":"2021-04-01T18:14:37","date_gmt":"2021-04-01T22:14:37","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=126506"},"modified":"2021-04-01T18:14:37","modified_gmt":"2021-04-01T22:14:37","slug":"eccb-officially-launches-digital-ec-dollar-dcash","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/eccb-officially-launches-digital-ec-dollar-dcash\/","title":{"rendered":"ECCB officially launches Digital EC Dollar \u2013 DCash"},"content":{"rendered":"
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The Eastern Caribbean Central Bank (ECCB) officially launched its digital currency -DCash on Wednesday, touting the initiative as being safer, faster and cheaper.<\/p>

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The four pilot countries where the public can obtain DCash are \u00a0Antigua and Barbuda, Grenada and Saint Christopher (St Kitts) and Nevis and Saint Lucia.<\/p>\n

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Speaking at Wednesday\u2019s official DCash launching ceremony, ECCB Governor Timothy Antoine said he believes \u00a0that the digital economy is a principal pathway to socio-economic transformation and shared prosperity.<\/p>

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\u201cPayments are the lifeblood of every economy,\u201d Antoine said.<\/p>

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As a result, he noted that the ECCB regards the payment system as a public good.<\/p>\n

Antoine explained that the payment system should work for all, except illicit actors.<\/p>

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And he highlighted the advantages of digital cash over physical currency.<\/p>\n

According to Antoine, unlike physical cash, people cannot steal digital cash.<\/p>

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\u201cIn the context of the ongoing pandemic where physical and social distancing are required, DCash offers a contactless method of payment that serves us well in our new normal,\u201d the ECCB Governor stated.<\/p>

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Antoine also asserted that payments and transfers are \u2018near instantaneous\u2019- about three seconds.<\/p>\n

In addition, he disclosed that there\u2019s no charge for D-Cash transactions because the ECCB has made that upfront investment.<\/p>\n

According to the ECCB Governor, the bank has been careful to imbed anti money laundering and combatting financing of terrorism protocols in the D Cash design.<\/p>\n

He also said it incorporates industry \u00a0standards and best practices as they relate to cyber security.<\/p>\n

The DCash pilot phase will run for 12 months.<\/p>\n

Afterwards, the ECCU will roll the initiative out to other member states of the Eastern Caribbean Currency Union (ECCU).<\/p>\n

The ECCB says consumers can gain access via the DCash App on their smart devices.<\/p>\n

They may also \u00a0obtain DCash from their commercial banks, credit unions or other authorised institutions.<\/p>\n

In addition to the payment functionalities, users of DCash can send money to friends and family who also use the DCash App.<\/p>\n

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The Eastern Caribbean Central Bank (ECCB) officially launched its digital currency -DCash on Wednesday, touting the initiative as being safer, faster and cheaper. The four pilot countries where the public can obtain DCash are \u00a0Antigua and Barbuda, Grenada and Saint Christopher (St Kitts) and Nevis and Saint Lucia. Speaking at Wednesday\u2019s official DCash launching ceremony, […]<\/p>\n","protected":false},"author":3,"featured_media":117149,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-126506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nECCB officially launches Digital EC Dollar \u2013 DCash - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/eccb-officially-launches-digital-ec-dollar-dcash\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ECCB officially launches Digital EC Dollar \u2013 DCash\" \/>\n<meta property=\"og:description\" content=\"The Eastern Caribbean Central Bank (ECCB) officially launched its digital currency -DCash on Wednesday, touting the initiative as being safer, faster and cheaper. 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