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John Kiff

ECCB DCash 2.0 CBDC request for vendor information - 0 views

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    The Eastern Caribbean Central Bank (ECCB) issued a Request for Vendor Information (RFVI) seeking input from vendors to shape the discovery process for the commercial deployment of its DCash retail central bank digital currency (CBDC) technology solution. In particular, the ECCB is seeking input from vendors that have "developed a retail CBDC solution or core components of such a solution which is deployment-ready". Upon evaluation of responses vendors may be invited to further participate in a subsequent request for proposals (RFP) exercise. The ECCB, working with technology partner Bitt, has been piloting the DCash across its eight-member island countries since 2021, so this announcement comes as a surprise.
John Kiff

ECCB DCash Service to Resume Next Week - 0 views

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    The Eastern Caribbean Central Bank (ECCB) is completing the final testing and assurance exercises following several system upgrades and will make the DCash platform available for public use during the week of March 7. The DCash system has been down since January 14. The interruption was due to an expiring certificate on the version of the Hyperledger Fabric that hosts the DCash ledger, and not to any external intervention. It has taken longer than expected to fix the problem because the ECCB took the opportunity to undertake several upgrades platform including enhancing the system's certificate management processes, and updating the version of Hyperledger Fabric. Other upgrades will allow the platform to process government disbursements to individuals and permit commercial websites to accept DCash. The ECCB says that the security and integrity of all DCash data, applications and architecture, including all central bank, financial institutions, merchant and wallet apps remain secure and intact.
John Kiff

ECCB Governor Announces DCash Public Launch - 0 views

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    The Eastern Caribbean Central Bank (ECCB) will roll-out DCash, the ECCB's digital currency, on March 31, 2021. Consumers can sign up to use DCash either through a participating financial institution or via an authorised DCash agent. The ECCB will roll out DCash initially in Antigua and Barbuda, Grenada, Saint Kitts and Nevis and Saint Lucia as part of the ECCB's Digital Currency Pilot.
John Kiff

Launch of the ECCB DCash CBDC Pilot is Imminent - 0 views

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    February 13, 2021, Bitt, in partnership with the Eastern Caribbean Central Bank (ECCB), executed the first successful retail central bank digital currency (CBDC) consumer-to-merchant transaction using DCash, the ECCB digital currency. The transaction was completed at Geo F. Huggins' Foodland, in the island of Grenada. The ECCB has begun to issue DCash to participating financial institutions to enable customer purchases at selected merchants, as part of the closed segment of the DCash pilot. This live exercise is the final step before the public launch in four of the ECCU's eight sovereign member countries (Antigua and Barbuda, Grenada, Saint Kitts and Nevis and Saint Lucia).
John Kiff

ECCB launches DCash in Anguilla - 0 views

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    The Eastern Caribbean Central Bank (ECCB) DCash central bank digital currency (CBDC) pilot expanded to Anguilla, and now the digital version of the EC currency is legal tender in all eight ECCB member countries. Liberty Co-operative Credit Union (LCCU) is the first financial institution in Anguilla to join the Pilot and will begin processing DCash applications for both merchant and consumer wallets for their customers. Citizens and residents who are not customers of LCCU may obtain a DCash value-based wallet by signing up through the app.
John Kiff

ECCB preparing to launch 'DCash 2.0' - 0 views

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    The Eastern Caribbean Central Bank (ECCB) is preparing for a full "commercial deployment" of DCash, the central bank digital currency (CBDC) it has been piloting since March 2021. Governor Timothy Antoine said the ECCB "intends to move forward with alacrity" on the CBDC project, "and will conclude its pilot [by end-2023] and launch DCash 2.0, which is commercial deployment".
John Kiff

Pilot CBDC outage due to expired certificate, ECCB says - 0 views

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    The Eastern Caribbean Central Bank (ECCB) has revealed that an expired certificate caused its pilot central bank digital currency (CBDC), DCash, to go offline from January 14. Karina Johnson, the ECCB project manager for the DCash pilot, said that "the version of Hyperledger Fabric (HLF)", the network that hosts DCash's distributed ledger, "had a certificate expire". To install an up-to-date certificate, the currency's operators are undertaking "a version change of HLF and associated systems.
John Kiff

ECCB Launches DCash in Saint Vincent and the Grenadines - 0 views

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    The Eastern Caribbean Central Bank (ECCB) has made DCash, the digital version of the EC Dollar, available for public use in Saint Vincent and the Grenadines, as part of its continuing central bank digital currency (CBDC) pilot launched on March 31, 2021. The initial rollout took place in Antigua and Barbuda, Grenada, Saint Lucia and St. Kitts and Nevis.
John Kiff

ECCB pleased with progress of digital currency initiative - 0 views

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    Eastern Caribbean Central Bank (ECCB) Governor Timothy Antoine reportedly says he is pleased with the performance of its DCash central bank digital currency (CBDC) pilot aimed at improving financial inclusion and modernizing payment systems. He said that partnerships with licensed financial institutions and regional businesses and organizations have enabled DCash to expand its reach, enhance platform features, and ensure regional impact.
John Kiff

ECCB is Scheduled to Launch Its CBDC Pilot in June 2020 - 0 views

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    In mid-March 2020, Bitt and the ECCB conducted preliminary testing of the DXCD CBDC applications with select stakeholder groups in St. Kitts and Nevis, Antigua and Barbuda, and Grenada. A full-blown pilot is scheduled to launch in June 2020.
John Kiff

Digital EC Currency (DCash) Pilot Launch is Imminent - 0 views

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    DCash, the digital version of the Eastern Caribbean dollar will soon be available. This video provides more detail. See also the DCash landing page on the EC Central Bank (ECCB) website. https://www.eccb-centralbank.org/p/what-you-should-know-1
John Kiff

Region-Wide Service Interruption of ECCB DCash Platform - 0 views

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    On January 14, the Eastern Caribbean Central Bank (ECCB) DCash central bank digital currency (CBDC) platform experienced an interruption in service that has affected all users. This break in service has been caused by a technical issue and the subsequent necessity for additional upgrades. Since the breakdown, no DCash transactions are being processed.
John Kiff

ECCB 2021-2022 Annual Report and Statement of Accounts - 0 views

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    According to the just-released ECCB Annual Report, As at end-March, the value of DCash in circulation amounted $2.27 million, or 0.16% of the $1,407.14 million currency in circulation. More than 20 of the region's financial institutions and 11 agencies, both groups being key channels for customer onboarding, are now participating in the pilot. Also there has seen steady increase in the merchant base. The second phase of the pilot will see the introduction of government-to-consumer (G2C) payments and an e-commerce functionality to support wider use of DCash.
John Kiff

ECCB DCash Service Resumes - 0 views

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    The Eastern Caribbean Central Bank (ECCB) announced that full functionality of the DCash CBDC platform has been restored effective March 9. It had been down since January 14, 2022As part of the restoration, the platform now benefits from several upgrades including an enhanced certificate management process and an updated version of the software which provides the foundation for the DCash system. Extensive testing and assurance exercises were conducted prior to restoration of the platform to ensure full functionality of the service in accordance with quality assurance specifications.
John Kiff

Governor Antoine Addresses the ECCU Media on Launch of FinTech Pilot Project - 0 views

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    The ECCB CBDC pilot involves a digital version of the EC dollar (DXCD) distributed by licensed ECCU financial institutions. The DXCD will be used for transactions between consumers and merchants, between people, all using smart devices. IBM Hyperledger Fabric was selected as the blockchain platform.
John Kiff

ECCB preparing for CBDC pilot launch - 0 views

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    The Eastern Caribbean Central Bank (ECCB) is inviting merchants to participate in its digital EC currency (DCash) pilot.
John Kiff

Eastern Caribbean Central Bank set to Launch DCash in the Commonwealth of Dominica and ... - 0 views

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    The Eastern Caribbean Central Bank (ECCB) DCash officially went live in The Commonwealth of Dominica and Montserrat, expanding the central bank digital currency (CBDC) pilot to seven of the eight member countries.
John Kiff

Eastern Caribbean Currency Union : Selected Issues - 0 views

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    Given that the ECCB has a fixed exchange rate regime, monetary policy implications of a CBDC would be limited. [But] key challenges that warrant careful considerations would include risks to financial intermediation, financial integrity, and cybersecurity.
John Kiff

ECCB governor hopes for digital currency boost - Locations - 0 views

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    The Eastern Caribbean Central Bank is to launch a digital currency for the benefit of its dispersed island economies - essential to a region that has been disproportionately affected by climate change-induced disasters, governor Timothy Antoine tells fDi.
John Kiff

The Bahamas' Central Banker Explains Why Its 'Sand Dollar' Led the Way - 0 views

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    According to this interview with John Rolle, the Governor of the Central Bank of the Bahama, "there are several other countries in the Caribbean [besides the Bahamas and the ECCB] that are going the route of CBDCs."
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