Jamaica’s Upcoming CBDC Will get Name, Symbol, Tagline

Jam-Dex has been chosen as the title of the national electronic forex that is coming soon to Jamaica. In the approaching times, the Caribbean country plans to roll out its central bank electronic currency (CBDC) with the tagline, “No Funds, No Difficulty!”. The tri-coloured emblem of Jam-Dex is motivated by the national fruit of Jamaica, called the ackee. The plan of picking this native fruit as a logo was to offer a visually distinct and effortless-to-recognise icon.

The Lender of Jamaica in an formal statement defined that the inception of Jam-Dex is inspired by what the currency signifies — Jamaica Digital Trade.

The identify, the tagline, as very well as the symbol of Jam-Dex have been picked out of submissions manufactured by citizens of the country.

Ashley Payne gained the prize dollars for obtaining her instructed CBDC title and tagline picked by a choose jury. Payne walked absent with a total of $3,846 (roughly Rs. 2.8 lakh) along with $320 (approximately Rs. 24,000) really worth of Jam-Dex tokens.

For conceptualising and designing the emblem, Gerrard Harvey walked away with the prizes of $2,244 (approximately Rs. 1.65 lakh) in frequent currency and $160 (around Rs.12,000) in CBDC.

The exact rollout date of Jam-Dex remains awaited for now.

Presently, various other nations are also doing the job on launching their personal blockchain-based electronic currencies.

Russia has previously started testing its CBDC named Electronic Ruble.

Indian Finance Minister Nirmala Sitharaman has also confirmed ideas to deliver a countrywide digital rupee in the coming times.

Cryptocurrency is an unregulated digital currency, not a lawful tender and subject to sector pitfalls. The information and facts provided in the article is not supposed to be and does not represent economical information, trading suggestions or any other guidance or suggestion of any kind available or endorsed by NDTV. NDTV shall not be liable for any decline arising from any investment decision primarily based on any perceived advice, forecast or any other data contained in the short article. 

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