Most Jamaicans Will Be Using Digital Money by 2027, Prime Minister Says

Most Jamaicans Will Be Using Digital Money by 2027, Prime Minister Says

From bnnbloomberg.ca

Jamaican Prime Minister Andrew Holness expects more than 70% the population to be using the country’s digital currency within five years, as the central bank rolls out the e-money nationally during the first quarter of 2022. In an interview with Bloomberg TV Friday, Holness said the central bank digital currency, or CBDC, will reduce banking costs, bring more people into the formal financial system and ensure greater government accountability, as makes it easier to track public resources. “There will be some initial challenges,” he said. “We have to figure out how to give people access to digital devices and ... (full story)

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