DCash, a central financial institution digital forex (CBDC) commissioned by the Japanese Caribbean Central Financial institution (ECCB), has been offline for greater than two weeks amid technical points that proceed to have an effect on the platform.
“The DCash Workforce continues to resolve the technical subject that’s impacting the power of customers to finish transactions on the platform,” the operator said in a press release at the moment at 8 AM native time, promising one other replace at 6 PM native time.
Commenting on the outage, which reportedly started on January 14, Karina Johnson, a DCash venture supervisor on the ECCB, told Bloomberg that officers had been working “across the clock” with their service supplier Bitt Inc. “to re-establish full transaction capabilities as rapidly as doable.”
“The safety and integrity of all DCash functions and structure, together with all central financial institution and monetary establishments, and service provider and pockets apps stay safe and unaffected,” she mentioned, including that DCash transaction information was additionally “protected and safe”.
DCash was launched in March 2021 below a deal signed by the financial institution and the Barbados-based fintech Bitt. The corporate has been concerned in quite a few CBDC initiatives internationally. Amongst others, final October, Bitt mentioned it facilitated the roll-out of Nigeria’s eNaira.
To roll out DCash below its pilot venture, the ECCB has additionally partnered with quite a few banks, credit score unions, and companies to offer a digital cost possibility that’s presently accessible in 5 island economies that lie within the Caribbean: Antigua and Barbuda, Grenada, Saint Kitts, and Nevis, Saint Lucia, and Saint Vincent and the Grenadines. DCash is a digital model of the Japanese Caribbean greenback, and the islands are members of the Japanese Caribbean Foreign money Union (ECCU).
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