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Similar to El Salvador when it adopted Bitcoin, the Jamaican government is offering an incentive to boost adoption of its new digital payment system.
Jamaica is offering an incentive to promote the adoption of its central bank digital currency (CBDC) among the Caribbean country’s citizens. The first users to use the sovereign digital currency system, better known as Jam-Dex, will receive a free bonus of USD $16.
El Jamaica Information Service (JIS), a government news agency, released the information on Thursday, citing statements by Finance and Public Service Minister Nigel Clarke. Jamaica’s Prime Minister Andrew Holness also confirmed the news through a Facebook post, in which he shared the official release.
The first 100,000 Jamaicans who create Central Bank Digital digital technologies are these electronic tools that have the ability to generate, store or even process data. Currency currency is a medium of exchange that defines value. (CBDC) wallets (accounts) after April 1 will receive a $2,500 [Jamaican] deposit from the Government.
The minister said the initiative is an effort to encourage people to use CBDC as an option a contract giving the buyer the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price. for transactions. The comments came during a budget debate in the House of Representatives on March 8.
Success of Jam-Dex will depend on its acceptance
The announcement on the distribution of incentives comes a few weeks after the central bank of Jamaica (BOJ) announced thecierre exitoso de su programa piloto de moneda digital. The Finance Minister, who made references to these announcements on Tuesday, advanced that the national rollout of CBDC is scheduled for April this year.
The Citizens who have a Jamaican bank account an account is essentially a whose purpose is to track the financial activities of a specific asset/ will be able to obtain their Jam-Dex digital wallet a place where cryptocurrency users can store, send and receive digital assets. automatically. . Otherwise, they will be able to access the wallet by entering their details into the app: name, address, date of birth, tax registration number (TRN) and a valid government-issued photo ID such as a driver’s license, passport or voter ID card, the minister said.
This data meets the Know Your Customer (KYC) requirements of financial institutions. Once this data is confirmed, the wallet account will be authorized, Clarke explained. In addition, he said consumers will be able to access, download and deploy a wallet app on any mobile device (phone, tablet or similar device) connected to the Internet.
During his speech, Clarke acknowledged that Jam-Dex’s success depends on its usefulness in the real world. The more neighborhood stores, vendors and bars that accept the digital currency, he said, “the more people will be able to use it in the real world. the more useful it will be and the more widespread its use will be. “, they say.
We will encourage neighbourhood shops and informal and formal community businesses to set up… e-wallets and facilitate payments at JAM-DEX.
An Attempt to Bank the Unbanked unbanked refers to those that are either unable to access banking services, or choose not to.
According to Cointelegraph the Holness ad in Facebook provoked a mixed response. While some praised the initiative for its approach to “embracing the digital future”,otros expresaron su preocupación por las motivaciones del gobierno de Jamaica de intentar “ Saturday The “Federal Banking System” is a way for citizens to get into the federal banking system.
According to a study reported by the media Jamaica Observer In Jamaica, approximately 17% of the Jamaican population is currently unbanked. The report emphasizes that remaining unbanked is costly, less productive in terms of time, and generally inconvenient for the poorest Jamaicans.
It is possible that the government’s digitalization project and the payment incentive will motivate the country’s less affluent citizens to join the banking system.
Los incentivos monetarios por usar plataformas de pago digital y criptomonedas no son nuevos. Cuando El Salvador reconoció a Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. as its legal tender last year, the government offered a similar reward of USD $30 in that cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. to anyone who activate an account in the digital wallet ” Goat “ .
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Article by Hannah Estefania Perez / DiarioBitcoin
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