The Eastern Caribbean Central Banks Digital Currency (DXDC) – Rationale and Evolution


Authors : Stephen Fletcher

Volume/Issue : Volume 5 - 2020, Issue 3 - March

Google Scholar : https://goo.gl/DF9R4u

Scribd : https://bit.ly/3cgjHNI

This article seeks to provide a cursory historical overview evolution of money, in the Eastern Caribbean Currency Union and the Eastern Caribbean Central Bank’s rationale for its Digital Currency (DXCD), Pilot Project. The Eastern Caribbean Currency Union is a common monetary and currency space shared by eight members of a political and economic sub-regional regional trade area of the English Speaking Caribbean Members of the Organisation of the East Caribbean States (OECS).. These are all former colonies of Great Britain, who gained independence between 1974- 1983, except Montserrat who is a dependency territory with limited internal self-governance. Since 1704, the region has been increasing its integration into the global monetary value chain through its political and economic association with Great Britain In 1983, the heads of Governments of the Organisation of Eastern Caribbean States, agreed to form a central bank to provide inter alia a common pool from which monetary policy guidelines, would emanate. Among its many achievements is the development and deployment of a common currency (Eastern Caribbean Dollar - XCD).

Keywords : Eastern Caribbean Central Bank, Central Bank Digital Currency, Strategy, de-risking, Cryptocurrency, Block chain.

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