Bank of the Republic of Haiti has join the competition in exploring Central Bank Digital Currencies

Haiti CBDC
Closing speech delivered by Mr. Jeudy at the launch of the competition on the Digital Gourde

  • The circulation of a Digital Gourde by the Central Bank is part of the extension of actions aimed at supporting and guiding the development of the digital economy in Haiti. The BRH therefore joins the international movement oriented towards the increasing involvement of the Monetary Authorities in the offer of means of payment better adapted to technological changes and consumer preferences. By making great strides towards the implementation of a pilot phase, the BRH rises to the height of the dynamism displayed by the countries of the region, some having completed their pilot phase (Uruguay) while others are in implementation (Bahamas) or at an advanced stage in their conceptual research (Jamaica).

 

  • The Haitian payment system has made significant progress over the past 20 years, particularly with the emergence of remote banking and FinTech. However, these advances face persistent constraints, preventing them from realizing their full potential as tools for financial inclusion. Indeed, the absence of a legal framework, the lack of financial education and the absence of interoperability between service providers as well as of clear provisions that guarantee consumer protection are obstacles to further expansion. Added to this, the difficulties of access to energy and an internet network compromise the access and availability of financial services, especially in remote areas.

 

  • Through this solution, the BRH intends to offer a more secure means of payment (especially in the event of natural disasters) which makes it possible to address the problems mentioned above, while being guaranteed by the Issuing Authority, accessible throughout the territory. national and circulating on a medium making it possible to eliminate dependence on energy and the Internet network. The Digital Gourde therefore reinforces the current payment system and is therefore a factor in modernizing monetary policy, promoting competition in the financial landscape, increasing seigniorage, boosting economic activities and promoting financial inclusion

 

  • The Digital Water Bottle, like the physical water bottle, will be an instrument of national sovereignty and a symbol of our identity. This project therefore goes beyond the framework of the BRH and its appropriation by the public is fundamental for the materialization of the expected results. The organization of this competition therefore follows this participatory logic that we advocate in order to arouse the interest of the public while making use of skills and expertise at various levels. At the end of this competition which will challenge your creative senses, it will be a question of finding a name that can uniquely identify the Digital Currency of the Haitian Central Bank. Candidates will be evaluated according to the fundamental criteria and principles that will be presented to you during this meeting.

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Author: admin
The Haitian Gourde is fixed to the Haitian Dollar at a rate of 5:1. This Exchange Rate is fixed forever.The Haitian Dollar could serve as a gateway for unbanked and under-banked individuals in Haiti to have access to electronic payment systems , financial products and services.

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