Jamaica Joins The Bahamas And The Eastern Caribbean In Rolling Out Its Central Bank Digital Currency
Jamaica is in the midst of launching - and perhaps more importantly marketing - its own e-currency. The country's CBDC is called the Jam-Dex and it carries with it a tagline as relaxed as the nation's reputation: "No cash, no problem".
The Bank of Jamaica said it went through hundreds of suggestions to try and find a tagline for its CBDC, according to Yahoo Finance. We also hope, you know, that they actually tested the currency, too, and not just the marketing pitch.
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."
It's a play on the country's fame for being "content in the face of worry", Yahoo wrote late this week. The logo for the CBDC - a crucial part of any good marketing campaign - is the nation's national fruit, the ackee.
And the country's central bank looks like they take things just barely serious enough as necessary. Yahoo noted that the country's central bank logo "is a crocodile holding a key, and it regularly produces reggae songs about inflation targets and economic policy."
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.
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