Jamaica, Bahamas And The Caribbean Launch Central Bank Digital Currency

Jamaica, Bahamas and the Caribbean have all sunk their toes into the virtual currency market by launching the Central Bank Digital Currency. The country’s CBDC is called the Jam-Dex and it carries with it a tagline as relaxed as the nation’s reputation: “No cash, no problem”.

Jamaica is currently developing – and, maybe more crucially, promoting – its own e-currency. The Jam-Dex is the country’s CBDC, and it has a catchphrase that is as laid-back as the country’s notoriety: “No cash, no problem.”

According to Yahoo Finance, the Bank of Jamaica sifted through hundreds of recommendations to come up with a slogan for the CBDC. We also anticipate that they examined the currency itself, rather than simply the sales pitch.

According to the bank, the CBDC’s new motto “is a phrase that instantly evokes Jamaica, and moreover, speaks to exactly the mood we want consumers and businesses to have when they are using Jam-Dex.”

It’s a spin on the nation’s reputation for remaining “content in the face of worry,” according to Yahoo. The CBDC’s emblem, which is an important aspect of any excellent marketing effort, is the ackee, the country’s national fruit.

And also the country’s central bank appears to be taking matters barely as carefully as is required. The country’s central bank emblem “is a crocodile holding a key, and it regularly produces reggae songs about inflation targets and economic policy,” according to Yahoo.

In 2021, Jamaica tried out the digital currency, and Prime Minister Andrew Holness announced that this would be released statewide this year. The Bahamas and the Central Bank of the Eastern Caribbean have previously launched their respective virtual currencies.