The Prime Minister and Finance Minister of Bahamas, Kevin Peter Trunquest, announced that the Central Bank of Bahamas is planning to create a government-supported cryptocurrency pilot. He expects the government to introduce blockchain technology production to provide a solution to Bahamas commercial banks that are currently leaving the community without vital banking services.

As an insular nation, he argues that it would convenient to offer financial services in a secure and digital way, especially where transport is expensive and can be inconvenient for many, especially for the elderly.

He also declares that the government is trying to see other ways in which certificates such as commercial licenses, passports, national insurance can use blockchain technology to allow people to store their data and share it securely and in a verifiable manner

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