Digibank, an offshore bank situated in Dominica, is set to offer an innovative new banking cryptocurrency that is designed to make financial transactions more efficient and speedy.
To this end, the bank is working in conjunction with Jubilee Fintech Holdings Limited to develop a blockchain ecosystem called 'DIGI', which stands for "Decentralized Intelligent Global Instruction." As the name suggests, the system is designed to create a decentralized and secure system to keep track of financial transactions, specifically those that occur across international borders.
By using the wonders of blockchain technology as the backbone on which financial transactions are stored and recorded, Digibank and its DIGI banking cryptocurrency aim to increase speeds and reduce costs associated with international banking as well as other financial ventures such as loaning, crowdfunding and micro-financing.
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