THE Bank of Jamaica (BOJ) is facing a barage of criticisms on Twitter about the decision to name the central bank digital currency (CBDC), JAM-DEX.
The BOJ revealed the name just over a week ago, citing that JAM-DEX is the shortened version for the Jamaican Digital Exchange with the slogan “No cash, no problem!”. The name and tagline were selected following a design competition.
The central bank said full roll-out of the digital currency is set for this year.
However. Twitter users, while admitting that the project is promising, argued that the CBDC’s name JAM-DEX could be easily misconstrued as a decentralised exchange (DEX), and its logo is “terrible”, according to the community’s response. The name JAM-DEX has left the Twitter community unsatisfied with the result from the design competition.
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