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Jamaica to Roll Out Central Bank Digital Currency (CBDC); Joins Bahamas & Eastern Caribbean


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“No cash, no problem!”

That’s the slogan for Jamaica’s central bank digital currency (CBDC).

The Bank of Jamaica combed through hundreds of suggestions for the Caribbean nation’s e-currency called Jam-Dex.

The bank said the CBDC’s new slogan “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.”

Check out Jamaica’s CBDC name, logo, tagline, image, and design below:

Bank of Jamaica released this statement:

Bank of Jamaica’s (BOJ’s) central bank digital currency (CBDC) name, logo, tagline and image design competition is over, and Jamaica’s central bank digital currency (CBDC) now has a name.

The winning appellation is JAMAICA DIGITAL EXCHANGE – JAM-DEX for short – with the tagline, “No cash, no problem!”

The winning logo utilizes the very distinctive outline of Jamaica’s national fruit and national dish key ingredient, the ackee.

For winning both prizes in the name and tagline competition, Ms. Ashley Payne is the lucky recipient of a 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.

Mr. Gerrard Harvey walked away with the prizes of J$350,000 in regular currency and J$25,000 in CBDC for conceptualizing and designing the logo.

Both winners collected their prizes in a small ceremony at BOJ in August 2021.

No winners were found for the representative image category, so that design was completed in-house by BOJ’s graphic arts unit.

The task of combing through over a hundred entries in each category fell to a small panel of judges led by Mrs. Natalie Haynes, BOJ Deputy Governor in charge of Banking, Currency, and Financial Markets Infrastructure. Other members of the panel were then, BOJ Communications Director, Mr. Tony Morrison; BOJ Senior Graphic Artist, Tashna Bulli; Project Director in the Ministry of Culture, Gender, Entertainment and Sport (and former BOJ employee), Mr. Lenford Salmon; and the Head of Department, Visual Communication, Edna Manley College of the Visual and Performing Arts, Mrs. Shauna Gaye Murray-Coke.

As Infowars noted, Jamaica isn’t the first Caribbean-based currency to roll out a CBDC:

Jamaica took the digital currency for a test run in 2021, and Prime Minister Andrew Holness has decided that it would be launched nationally this year. The Bahamas and the Eastern Caribbean Central Bank have already rolled out digital currencies of their own.

In October 2020, the Bahamas launched the world’s first CBDC:

The International Monetary Fund (IMF) recently presented a new paper on CBDCs.

They disclosed their partnership with The Atlantic Council and several major central banks.

Watch this clip for a glimpse of other currency unions on the cusp of rolling out their own CBDCs:

NATIONAL POLL: Do You Still Support President Trump?

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Watch the full presentation here:

As a reminder, here’s where a cashless economy falls on the COVID-19 Roadmap: The 12 Step Plan to Create a Totalitarian “New World Order”

*Source – SGT Report*

Jamaica has reached #10, so they’re almost complete.



 

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