• Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Friday, August 19, 2022
Online Crypto College
Advertisement
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading
No Result
View All Result
Online Crypto College
No Result
View All Result

Jamaica on Track to Launch CBDC, says Jam-Dex

June 9, 2022
in Blockchain
Reading Time: 2 mins read
A A
ShareShareShareShareShare

The Jamaican Decentralized Exchange (Jam-DEX), the official name of the Jamaican Central Bank Digital Currency (CBDC), is set to go live for domestic use later this month, according to Bank of Jamaica Governor Richard Byles.

Related articles

SuperLayer Raises $25M With Backing from Polygon

August 19, 2022

Opinion: What is driving the ‘crypto winter’?

August 19, 2022

The emergence of Jam-DEX moved closer to completion after the country’s Senate passed an amendment that will empower the apex bank as the sole issuer of the new legal tender.

Unlike more advanced nations where digital payments have largely dominated, the emergence of JAM-DEX is billed to be well suited for the local economy as it will revamp the cash-dominated business ecosystem. With Jam-DEX, Jamaicans will now have access to transact with a faster and more efficient payment system.

The BoJ has been conducting pilot tests for the CBDC since August 2021, and it has an active partnership with Dublin-based technology firm eCurrency Mint which joined the bank in completing a Sandbox project that birthed the Jam-DEX name for the legal tender.

“Legislators in Jamaica have all now unanimously moved a digital dollar forward in Jamaica. You can use this to settle any debt in Jamaica. It is the medium of exchange. It is the medium of account,” said Jonathan Dharmapalan, the Chief Executive Officer of eCurrency Mint.

According to several sources, more than 100 countries are actively developing CBDCs, including the Atlantic Council’s CBDC tracker. While Jamaica is notably impressing with its CBDC push, the Bahamian Sand Dollar has already made history as the first in the Caribbean and in the entire world to launch a functional CBDC.

However, the Bank of Jamaica is adding a unique twist to its CBDC development, which is embodied in the fact that the new money will not be built using blockchain technology. The bank, however, clarified that it is not refusing to use blockchain for any kind of concerns but rather that it could deploy the CBDC through a payment infrastructure that stakeholders in the industry are already familiar with.

Image source: Shutterstock

Credit: Source link

ShareTweetSendPinShare
Previous Post

Tether to launch USDT on Tezos; New DeFi products to be unlocked?

Next Post

There are improvements in crypto regulations

Related Posts

SuperLayer Raises $25M With Backing from Polygon

August 19, 2022

SuperLayer, a blockchain venture studio, has secured $25 million in funding with backing from its strategic partner, Polygon Network -...

Opinion: What is driving the ‘crypto winter’?

August 19, 2022

As record breaking temperatures have scorched the Northern Hemisphere, winter has hung over the crypto industry, with 2.25 trillion lost...

Yuga Labs Hires Former Rally Executive Chris Fortier as VP of Products

August 18, 2022

Yuga Labs, the developer of the Bored Ape Yacht Club (BAYC), has hired Chris Fortier as its VP of Product....

VC Shima Capital to Launch $200m Shima Capital Fund I for Web 3 Industry

August 18, 2022

Early-stage venture capital Shima Capital will launch Shima Capital Fund I, the first fund to support emerging digital assets for...

ECB Publishes New Guideline on Regulated Digital Asset Licensing

August 18, 2022

The European Central Bank (ECB) has issued new licensing guidelines for regulating digital assets, although it currently does not have...

Load More
Next Post

There are improvements in crypto regulations

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Celsius Received Approval to Continue Bitcoin Mining

August 18, 2022

The Cullen Commission Explores the Issue of Money Laundering Through Virtual Assets | Bennett Jones LLP

August 18, 2022

What a complete yolk! Comparing Bitcoin to Eggs and why it matters

August 15, 2022

Fractional Rebrands to Tessera after Raising $20m from Paradigm

August 18, 2022

These 3 centralized cloud service providers control 66% of Ethereum nodes

August 18, 2022

About Us

This is an online news portal that aims to provide the latest Crypto news, Altcoins, blockchain, regulations and much more stuff like that around the world. Feel free to get in touch with us!

What’s New Here!

  • How Will Bitcoin (BTC) Price Perform In the Last 4 Months of 2022?
  • ‘De-risking’ Crypto Firms Potentially Creates ‘Opacity in Financial Conduct’ – Regulation Bitcoin News
  • Cosmoverse is bringing the best of the Cosmos ecosystem to Latin America

Newsletter

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$22,050.00-6.00%
  • ethereumEthereum(ETH)$1,754.51-5.03%
  • tetherTether(USDT)$1.000.24%
  • usd-coinUSD Coin(USDC)$1.00-0.01%
  • binancecoinBNB(BNB)$282.83-8.07%
  • Binance USDBinance USD(BUSD)$1.000.21%
  • rippleXRP(XRP)$0.347602-7.36%
  • cardanoCardano(ADA)$0.474902-12.11%
  • SolanaSolana(SOL)$36.36-11.27%
  • dogecoinDogecoin(DOGE)$0.070424-13.59%
  • polkadotPolkadot(DOT)$7.50-11.81%
  • Shiba InuShiba Inu(SHIB)$0.000013-12.91%
  • Lido Staked EtherLido Staked Ether(STETH)$1,703.22-5.22%
  • daiDai(DAI)$1.000.01%
  • AvalancheAvalanche(AVAX)$22.40-13.51%
  • tronTRON(TRX)$0.065299-4.56%
  • matic-networkPolygon(MATIC)$0.80-10.19%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$22,029.00-5.73%
  • OKBOKB(OKB)$19.25-8.22%
  • ethereum-classicEthereum Classic(ETC)$35.95-11.99%
  • leo-tokenLEO Token(LEO)$5.14-3.79%
  • litecoinLitecoin(LTC)$56.14-7.87%
  • FTXFTX(FTT)$27.90-7.65%
  • NEAR ProtocolNEAR Protocol(NEAR)$4.47-12.69%
  • CronosCronos(CRO)$0.132080-7.74%
  • chainlinkChainlink(LINK)$7.12-13.13%
  • UniswapUniswap(UNI)$6.96-13.70%
  • cosmosCosmos Hub(ATOM)$10.60-11.27%
  • stellarStellar(XLM)$0.110709-8.15%
  • moneroMonero(XMR)$150.95-11.24%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • FlowFlow(FLOW)$2.33-12.39%
  • bitcoin-cashBitcoin Cash(BCH)$121.05-9.03%
  • algorandAlgorand(ALGO)$0.310210-9.77%
  • vechainVeChain(VET)$0.026492-10.01%
  • filecoinFilecoin(FIL)$6.74-17.78%
  • ChainChain(XCN)$0.082127-2.61%
  • ApeCoinApeCoin(APE)$5.29-14.39%
  • Internet ComputerInternet Computer(ICP)$6.44-13.20%
  • decentralandDecentraland(MANA)$0.86-12.38%
  • The SandboxThe Sandbox(SAND)$1.07-12.26%
  • HederaHedera(HBAR)$0.065789-11.39%
  • tezosTezos(XTZ)$1.63-12.54%
  • FraxFrax(FRAX)$0.98-1.62%
  • QuantQuant(QNT)$104.00-7.40%
  • Axie InfinityAxie Infinity(AXS)$14.82-13.14%
  • eosEOS(EOS)$1.32-8.40%
  • theta-tokenTheta Network(THETA)$1.23-13.03%
  • true-usdTrueUSD(TUSD)$1.00-0.01%
  • AaveAave(AAVE)$87.17-13.09%