Caribbean CBDC is Remained Offline for More Than 2 Weeks Amid Technical Issues

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DCash, a central bank digital currency (CBDC) appointed by the Eastern Caribbean Reserve Bank (ECCB), has been offline for more than two weeks amidst technical concerns that continue to affect the system.
“The DCash Team remains to deal with the technical issue that is influencing the ability of individuals to complete deals on the system,” the operator claimed in a statement today at 8 AM local time, promising one more update at 6 PM local time.
Commenting on the failure, which supposedly began on January 14, Karina Johnson, a DCash task manager at the ECCB, informed Bloomberg that officials were working “around the clock” with their provider Bitt Inc.” to re-establish full deal capabilities as promptly as possible.”
The security and also honesty of all DCash applications and also architecture, including all reserve bank as well as monetary establishments, and also a merchant and also purse applications remain safe and secure as well as untouched,” she stated, adding that DCash purchase data was likewise”safe as well as safe”.

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DCash was introduced in March 2021 under a bargain authorized by the financial institution and also the Barbados-based fintech Bitt. The firm has actually been associated with a number of CBDC tasks across the world.
To name a few, last October, Bitt said it helped with the roll-out of Nigeria’s eNaira. To roll out DCash under its pilot job, the ECCB has also partnered with a variety of financial institutions, cooperative credit unions.
As well as services to provide a digital settlement option that is currently available in 5 island economic climates that depend on the Caribbean.

Antigua as well as Barbuda, Grenada, Saint Kitts, as well as Nevis, Saint Lucia, as well as Saint Vincent and also the Grenadines. DCash is a digital version of the Eastern Caribbean buck, and also the islands are members of the Eastern Caribbean Money Union (ECCU).
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