“No banknotes, no problems”. Caribbean digital currencies start
Jamaica is in the midst of launching – and marketing – its official and licensed digital currency. The CBDC, Central Bank Digital Currency, of the country is called Jam-Dex and carries with it a relaxed slogan as well as the nation's reputation: " No money, no problem ".
The Bank of Jamaica said it went through hundreds of suggestions for trying to find a slogan for its CBDC, according to Yahoo Finance. We also hope, you know, that they have actually tested the currency as well and not just the marketing field.
The bank said the CBDC's new slogan "is a phrase that instantly evokes Jamaica and, furthermore, speaks exactly of the mood we want consumers and businesses to have when using Jam-Dex."
It's a game about the country's reputation for being "happy in the face of worry," Yahoo wrote later this week. The CBDC logo – a crucial part of any good marketing campaign – is the nation's national fruit, ackee.
And it seems that the country's central bank takes things with a certain tropical lightness. Yahoo noted that the country's central bank logo "is a crocodile holding a key and regularly producing reggae songs about inflation targets and economic policy."
Jamaica used the digital currency for a test in 2021, and Prime Minister Andrew Holness decided it would launch nationwide this year. The Bahamas and the Central Bank of the Eastern Caribbean have already launched their own digital currencies, so all of the Caribbean has become an experimentation area for digital currency. The Central Bank of Jamaica proposes the CBDC as an innovation for monetary inclusion, but, at present, we cannot say whether the level of scrutiny is as high and worrying as that put in place on the Chinese CBDC.
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The article "No banknotes, no problems". Caribbean digital currencies start coming from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/nessuna-banconota-nessun-problema-partono-le-valute-digitali-caraibiche/ on Mon, 21 Feb 2022 09:00:55 +0000.