Bermuda Seeks to Become First Fully Blockchain-Based Economy

Bermuda, a small island nation in the Atlantic Ocean, is making significant strides in embracing blockchain technology. In a bid to become the first fully blockchain-based economy, the government has launched several initiatives to promote digital currency adoption.

n

One of the key projects is the introduction of its own digital dollar, which will be pegged to the US dollar and used for both domestic and international transactions. The project aims to make Bermuda a hub for cryptocurrency trading and investment.

n

The government has partnered with several companies, including Circle and Coinbase, to develop this infrastructure. Circle will provide the necessary technology and expertise to support the launch of the digital dollar, while Coinbase will help with institutional and retail adoption.