Jamaica’s Upcoming CBDC Gets Name, Logo, Tagline



Jam-Dex has been chosen because the title of the nationwide digital foreign money that’s coming quickly to Jamaica. Within the approaching days, the Caribbean nation plans to roll out its central financial institution digital foreign money (CBDC) with the tagline, “No Money, No Downside!”. The tri-coloured brand of Jam-Dex is impressed by the nationwide fruit of Jamaica, referred to as the ackee. The concept of selecting this native fruit as a brand was to supply a visually distinct and easy-to-recognise icon.

The Financial institution of Jamaica in an official assertion defined that the inception of Jam-Dex is impressed by what the foreign money means — Jamaica Digital Alternate.

The title, the tagline, in addition to the emblem of Jam-Dex have been picked out of submissions made by residents of the nation.

Ashley Payne received the prize cash for getting her steered CBDC title and tagline picked by a choose jury. Payne walked away with a complete of $3,846 (roughly Rs. 2.8 lakh) together with $320 (roughly Rs. 24,000) price of Jam-Dex tokens.

For conceptualising and designing the emblem, Gerrard Harvey walked away with the prizes of $2,244 (roughly Rs. 1.65 lakh) in common foreign money and $160 (roughly Rs.12,000) in CBDC.

The precise rollout date of Jam-Dex stays awaited for now.

Presently, a number of different nations are additionally engaged on launching their very own blockchain-based digital currencies.

Russia has already begun testing its CBDC named Digital Ruble.

Indian Finance Minister Nirmala Sitharaman has additionally confirmed plans to deliver a nationwide digital rupee within the coming days.

Cryptocurrency is an unregulated digital foreign money, not a authorized tender and topic to market dangers. The knowledge offered within the article just isn’t meant to be and doesn’t represent monetary recommendation, buying and selling recommendation or another recommendation or advice of any type supplied or endorsed by NDTV. NDTV shall not be liable for any loss arising from any funding primarily based on any perceived advice, forecast or another info contained within the article. 


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