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Breaking: Bermuda is stepping into uncharted territory by planning to establish itself as the world's first fully onchain national economy. This ambitious initiative draws backing from major players in the digital finance space, signaling serious institutional commitment.
The roadmap spans multiple dimensions. First, pilots are underway to test stablecoin-based payment infrastructure—essentially reimagining how everyday transactions could flow directly on blockchain networks. Second, there's active integration work happening with traditional financial institutions, bridging the gap between legacy banking and decentralized systems. Third, the government envisions a nationwide digital finance framework that doesn't just coexist alongside blockchain, but makes it the backbone of economic operations.
This moves beyond rhetoric. Bermuda is exploring how central bank digital currencies and blockchain-based settlement could reshape national financial operations at scale. Whether this becomes a blueprint or remains experimental will be closely watched.