Jamaican Central Bank to airdrop the national cryptocurrency for free
The first 100 000 citizens to use Jam-Dex currency will receive a 16 Jamaican dollars deposit in their wallet
11.03.2022 - 09:05
232
2 min
0
What’s new? The Central Bank of Jamaica will issue a national digital currency called Jam-Dex in April 2022. Prime Minister Andrew Holness has announced on Facebook that the first 100 000 citizens who use Jam-Dex will each receive 16 Jamaican dollars in their wallets. According to the Jamaica Observer, about 17% of the population does not use banks. The action should encourage low- and middle-income citizens to join the national banking system.
How did Jamaica develop CBDC? At the end of 2021, the country’s Central Bank successfully completed a pilot program to test Jam-Dex. The project was developed jointly with the Irish firm eCurrency Mint and a total of about 6 million digital Jamaican dollars were issued. Jamaican Finance Minister Nigel Clark stated that the national currency should be widely distributed among low-income citizens as well as among small businesses.
Useful material?
Market
Funds can be seized by law enforcers due to links to illegal activity
Apr 26, 2024
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024
Business
The rate exchange of the native ACH token reacted with a 10% increase
Apr 18, 2024
Market
Miners are hunting for the first block after halving as the value of the first satoshi could exceed $1 million
Apr 18, 2024
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024