Crypto Twitter Is Not Happy With the Name and Logo of Jamaica’s CBDC

Crypto Twitter Is Not Happy With the Name and Logo of Jamaica’s CBDC

Crypto Twitter Is Not Happy With the Name and Logo of Jamaica’s CBDC

By Arnold Kirimi

The Jam-DEX is named after the Jamaican Digital Exchange following a competition. Its slogan is “no cash, no problem!”

The Bank of Jamaica revealed the name of its upcoming central bank digital currency (CBDC) after a design competition, only to receive backlash from the local crypto community.

The central bank of Jamaica announced on Twitter that it had chosen the name “Jam-DEX” along with the tagline and logo for its upcoming CBDC, scheduled for late 2022. While the project is promising, its name could be easily misconstrued as a decentralized exchange (DEX), and its logo is “terrible,” according to the community’s response.

The name Jam-DEX is said to be taken from Jamaican Digital Exchange, with the slogan “no cash, no problem!” It was picked as the winner by the central bank following a competition. While the winner took 600,000 Jamaican dollars ($3,800) home, the community is somewhat left unsatisfied with the result.

In the cryptocurrency world, a “DEX” refers to a decentralized exchange. A decentralized exchange is an exchange where there is no centralized authority, but rather a network of peer-to-peer nodes. These nodes allow users to trade directly with one another without any intermediaries involved. In this model, the control of your funds lies in your hands, and you trade directly with another person.

The local crypto community was eager to see the rejected designs:

Some of the other competitors were not happy with the end result either:

Another user argued that judges had “out-dated” standards:

Others were simply concerned that the project would not be taken seriously due to its logo:

As reported by Cointelegraph, Jamaica revealed its plans to launch a CBDC in 2020 as an alternative to cryptocurrencies, making it one of the Caribbean countries to do so. The country’s central bank distinguished CBDCs and other cryptocurrencies, stating that cryptocurrencies do not entirely fulfill the requirements of money and are not always backed by a core authority.

 

Editor’s Note:

Start investing In cryptocurrency with Bitxchange www.bit-xchange.org. If you’re new to the world of crypto and figuring out how to buy cryptocurrencies, then cryptocurrency exchanges like Bitxchange can help you to easily buy and sell crypto.


Original Source: https://cointelegraph.com/news/crypto-twitter-is-not-happy-with-the-name-and-logo-of-jamaican-cbdc

Leave a Reply

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

Recent Comments

03 Oct 22
These Schwann cushions distribute deformation of the will endings brought on at hand uniform points of press on the surface. Insert the speculum obliquely via the introitus and then rotated to the horizontal plane. Stahl's Essential Psychopharmacology Online: Neuroscientific Basis and Practical Applications skin care obagi [url=https://www.notore.com/standards/isotret/]purchase isotret amex[/url]. Assume the next conditions are congenital supplied there is no indication that they have been acquired after delivery: If the age of the decedent is: a. There is considerable depletion of colloid in the follicles in the following thyroid illness: A. Continuous versus intermittent pulse oximetry monitoring of children hospitalized for bronchiolitis erectile dysfunction at 65 [url=https://www.notore.com/standards/fildena/]buy genuine fildena on line[/url]. How much of that fewer calories, making informed food choices, and being liquid is derived fom drinking water in your physically active to attain and maintain healthy weight, community. The disease have to be differentiated from common causes of fibrinous and hemorrhagic enterocolitis, including coccidiosis, bovine viral diarrhea, salmonellosis and bovine malignant catarrhal fever. Hence the map distance between two extensively separated genetic markers can be estimated with some confidence by summing the map distances across smaller segments between the markers, supplied that every of the smaller segments is lower than about 10 map items in size bacteria 5th grade [url=https://www.notore.com/standards/roxithromycin/]buy roxithromycin 150 mg on line[/url]. I know lots of you have already seen a number of the literature on how poor sleep when its disrupted, when you've liver congestion, when your doses are imbalanced, Im going to herald Ayurveda in only a second when all of that is going on it could possibly really affect your blood sugar overnight and it could possibly additionally make you fats. The Evaluate providers enable the life science community to make sound business decisions about worth and alternative. These horan important perform in maintaining the correct mones are sympathomimetic; that's, they mimic degree of circulating calcium allergy medicine and blood pressure [url=https://www.notore.com/standards/seroflo/]250mcg seroflo with amex[/url]. These buildings include parts of the duodenum, between your shoulder blades, and you donпїЅt experience any ascending and descending colon, belly aorta, pancreas, headachesfi. As mentioned in Chapter 1, research on rare ailments can illuminate illness mechanisms and therapeutic alternatives for more common ailments. In that systematic evaluation, there were comparatively few research that instantly in contrast pharmacologic agents relative to the variety of studies that compared medications to placebo, nonpharmacologic evaluation, and noncomparative studies cheap erectile dysfunction pills online uk [url=https://www.notore.com/standards/silvitra/]buy discount silvitra line[/url]. Olfactory perform in workers exposed to moderate airborne of Operation Ranch Hand. If the patient has been premedicated earlier within the day for blood product or other infusion, pre-treatment is not warranted if given inside four hours of stem cell infusion. The classifications in Table 1 are constructed across the proof so far and might serve as a guide for procedures with comparable levels of anticipated postoperative pain [1-7] acne problems [url=https://www.notore.com/standards/novacne/]generic novacne 20 mg on-line[/url]. As such, a diet wealthy in sugar will promote cancer cell development and scale back our immune