The Jamaican government has stated that it is finalizing preparations for the launch of Jam-Dex, the country’s central bank digital currency.
The Bank of Jamaica revealed this week in a press statement that it has already chosen the name, visual image, tagline, and logo for the CBDC, which will be launched later this year. Following a public competition the bank organized, the whole branding of the new digital money was decided.
According to the announcement, the name Jam-Dex is derived from Jamaican Digital Exchange, with the tagline “no cash, no problem” proposed by Ms. Ashley Payne. The prize winners for each item were announced, with Ms. Payne “receiving total of J$600,000 (J$350,000 for the name and J$250,000 for the tagline) in regular currency, plus a combined total of J$50,000 in CBDC.”
