Article Image

IPFS News Link • Bitcoin

Jamaican Central Bank Plans to Airdrop $16 to First 100 Citizens Of CBDC

• CryptoPotato

Jamaica Digital Exchange (JAM-DEX)

While delivering the opening presentation in the 2022/23 Budget Debate in the House of Representatives this week, Minister of Finance and the Public Service Dr. Nigel Clarke stated that the main objective of the move is to encourage citizens to use CBDC as an option to conduct transactions.

Bank of Jamaica (BOJ) had unveiled the country's CBDC effort, dubbed Jamaica Digital Exchange (JAM-DEX), in February, with the tagline being "No cash, no problem!"

The initiative is a part of the Government's digital transformation of Jamaica's economy. According to the Finance Minister, any individual with an existing bank account can automatically be eligible for a JAM-DEX wallet. The Government plans to detail more incentives to use the new CBDC, the rollout of which is scheduled for the beginning of the April to June quarter.


AzureStandard