Jamaica Adopt cryptocurrency

[BIN-BIN]

More and more countries around the world are adopting and tapping into the advantages of blockchain-based currencies, with Jamaica launching its first digital currency issued to bank customers on personal or business account pegged to the Jamaican dollars on a 1:1 exchange ratio, this development is the latest among others with Venezuela aiming to lunch it owns BCDC in October 2021.

There is a bright future for the cryptocurrency market with more development of stable coins it will allow for more transparency and government adoption of the blockchain technology, which will eventually result in mainstream adoption of cryptocurrencies.

What is your expectation for the future?
Link to full new
https://dogecoinnewshub.com/crypto/the-bank-of-jamaica-coins-the-first-batch-of-national-virtual-currency/?utm_source=dlvr.it&utm_medium=facebook

[mobtc]

With the expansion of btc's influence, I believe that more and more countries will accept and recognize it.
What we have to do now is to promote more, BTC is not only a virtual currency, it is also the beginning of an era of change.

[Cvetik56]

That's good news. Almost every day i see how some company going to accept crypto and some countries concidering it. I hope there will be a lot of countries which will do so in the next decade.

[shinratensei_]

CBDC could be a new gateway for the fresh money to enter in the crypto. In my opinion, this trend will become popular. Some countries have been announcing to issue their own CBDC in the future. The crypto developers have needed to work with the CBDC bridge to the crypto.

Glad to see that more and more countries are seeing crypto as an opportunity. It seems like this trend gonna be a massive trend. It's just a matter of time. CBDC maybe a threat for stable coin

[Teknisi88]

More and more countries around the world are adopting and tapping into the advantages of blockchain-based currencies, with Jamaica launching its first digital currency issued to bank customers on personal or business account pegged to the Jamaican dollars on a 1:1 exchange ratio, this development is the latest among others with Venezuela aiming to lunch it owns BCDC in October 2021.

There is a bright future for the cryptocurrency market with more development of stable coins it will allow for more transparency and government adoption of the blockchain technology, which will eventually result in mainstream adoption of cryptocurrencies.

What is your expectation for the future?
Link to full new
https://dogecoinnewshub.com/crypto/the-bank-of-jamaica-coins-the-first-batch-of-national-virtual-currency/?utm_source=dlvr.it&utm_medium=facebook

Yes Bank of Jamaica has made steady progress with the CBDC currency to facilitate a number of benefits for citizens such as being more efficient, safer, and functioning as a formidable means of payment.
I think it's a good move, a move to adopt CBDC as much more efficient than physical cash, “It's instant and it's a very efficient way of paying, in a way that cash just can't. Merchants also do not need to look for change, because the payment can be up to one cent.

[cabron]

Its CBDC not a cryptocurrency that Jamaica wants to create. It doesnt solve anything as its just making the currency digital which the goverment can still print more of the currency. The article also didn't have links to where it got the information.

The first cryoto sites we often see that publish news like this are coindesk and cointelegraph to which they include sources. Dogecoinnewshub.com seem an unlikely source.

[haidil]

Regarding the CBDC in Jamaica, I think it is still in a stage that is not yet mass-ready. The reason is that the government can still control it for several points. Because if it refers to adoption, of course it can't be centralized, because this is a virtual-based coin pegged to the Dollar will be more appropriate as part of a stable coin and still cannot open up space for other cryptos, especially Bitcoin itself.

[huu78]

This is good news for the crypto world, I hope other countries will start to follow and adopt btc as a currency. Following the green market developments this week, and the good news continues to emerge, btc is about to start hitting its ath again i hope so for now. And for the future i will keep believing btc is everything.

[ChrisPop]

The advantage of a blockchain is that the transactions are easily traceable so if if for example the govt. money has been used in unethical ways, a simple blockchain audit should reveal where the money "has travelled".

I think a lot of corruption could be eliminated this way. On the other side the authorities will be much "closer" to citizens' spending habits and we would still have to depend/trust a centralized entity which personally I don't like. I'd much rather trust a big, decentralized network (Bitcoin), but the two - stablecoins and BTC could co-exist successfully IMO.

[blockman]

The future is bright and that's not only because of Jamaica but it's because of the whole cryptocurrencies market adoption. CBDC is just like the new trend for the government but it's not entirely covering the crypto market. It's just being looked at as crypto because of the adjustment and creation of it but it's better if they create laws or no laws at all that shall not stop crypto adoption for their country. And having that said, it should be for most countries too that will make such laws.

[BIN-BIN]

The first cryoto sites we often see that publish news like this are coindesk and cointelegraph to which they include sources. Dogecoinnewshub.com seem an unlikely source.

I have also searched other web pages to view this news, but no one else reported it. This news is not sourced, and it is possible that this news also has no clarity from the local government. can this be called fomo?

I guess you have not searched we'll, just a one search you will fine a handful of news on Jamaica digital currency development and progress.
Cointelegraph and coin desk are the popular crypto news site but again there are not the only ones. Besides the first link, here is another link on the same news.
https://boj.org.jm/bank-of-jamaica-reminder-caution-on-cryptocurrencies/#:~:text=In%20addition%2C%20cryptocurrencies%20are%20not,these%20forms%20of%20digital%20currencies.&text=The%20use%20of%20cryptocurrencies%20in,and%20the%20financing%20of%20terrorism.

[efxtrader]

CBDC could be a new gateway for the fresh money to enter in the crypto. In my opinion, this trend will become popular. Some countries have been announcing to issue their own CBDC in the future. The crypto developers have needed to work with the CBDC bridge to the crypto.

Glad to see that more and more countries are seeing crypto as an opportunity. It seems like this trend gonna be a massive trend. It's just a matter of time. CBDC maybe a threat for stable coin

Like it or not, many countries will develop their digital currency. And I think this is good for development for cryptocurrency but I think there will be a lot of regulation issued by the state. On the positive side, cryptocurrencies will be increasingly in demand by new investors and become digital assets

[m.rifki]

This is good news for crypto, as more and more countries are aware of the potential and usefulness of crypto for their lives, and I think this trend will become even more popular if positive news about its success is spread.

[Jating]

Not sure if there is correlation to crypto though, CBCD are back by government, it's not the crypto that we all know of. You can't trade them as obviously, this will be like the local currency, but this time it's digital. So there will be no effects on the market itself.

And besides, this CBCD can be used to track you and then for tax purposes. Of course it's good that you can do transactions and be cashless society in the future. But I doubt that it will have a huge impact to crypto market.

[int03h]

CBDC is the national cryptocurrency and it is separate from the cryptocurrency we know. There needs to be an intersection of values to benefit the space as a whole. What I am interested in right now is the complete regulation of crypto in countries around the world. That's how crypto becomes legal around the world. The recognition also brought huge inflows of money into cryptocurrencies.

[Teknisi88]

This is good news for the crypto world, I hope other countries will start to follow and adopt btc as a currency. Following the green market developments this week, and the good news continues to emerge, btc is about to start hitting its ath again i hope so for now. And for the future i will keep believing btc is everything.

Yes.
I think the country's leaders need to sit down and take this issue seriously.
Because the first advantage of this currency is that it is universal. A person can use this currency without any conditions, including when they want to buy it.
This currency allows for fast transactions. Cryptocurrencies do not require a third party such as a bank to act as an intermediary in conventional financial transactions.
In seconds, in minutes, we can transact internationally.

[cabron]

The first cryoto sites we often see that publish news like this are coindesk and cointelegraph to which they include sources. Dogecoinnewshub.com seem an unlikely source.

I have also searched other web pages to view this news, but no one else reported it. This news is not sourced, and it is possible that this news also has no clarity from the local government. can this be called fomo?

I guess you have not searched we'll, just a one search you will fine a handful of news on Jamaica digital currency development and progress.
Cointelegraph and coin desk are the popular crypto news site but again there are not the only ones. Besides the first link, here is another link on the same news.
https://boj.org.jm/bank-of-jamaica-reminder-caution-on-cryptocurrencies/#:~:text=In%20addition%2C%20cryptocurrencies%20are%20not,these%20forms%20of%20digital%20currencies.&text=The%20use%20of%20cryptocurrencies%20in,and%20the%20financing%20of%20terrorism.

It goes to the page where the government warns about cryptocurrencies. "Bank of Jamaica Reminder Caution on Cryptocurrencies" 
It's not about the development of cryptocurrency adoption in the country.

But it proves though that the government is already alarmed by the growing numbers of people using crypto in the country. It always starts that way before the government steps in and just regulates crypto or makes BTC a  legal tender.

[andeluna]

More and more countries around the world are adopting and tapping into the advantages of blockchain-based currencies


There is a bright future for the cryptocurrency market with more development of stable coins it will allow for more transparency and government adoption of the blockchain technology, which will eventually result in mainstream adoption of cryptocurrencies.

What is your expectation for the future?
Link to full new
https://dogecoinnewshub.com/crypto/the-bank-of-jamaica-coins-the-first-batch-of-national-virtual-currency/?utm_source=dlvr.it&utm_medium=facebook

We all know that this will be possible that other country will adopt the use of crypto currency as one of their money to use as mode pf payment to buy some stuffs and to use in some other businesses. The future of the world by using money is to become cashless by the use of crypto currency and other electronic money to prevent the spreading of virus that is happening today to the whole world. It's not easy to adopt crypto currency to the economy of other country but soon it will be possible.

[lumierre]

Actually, the authorities of different countries see the popularity of the crypto market, but they can’t put up with this unregulated system. They are used to keeping everything and especially finances under control. That is why they want to replace crypto with state digital currencies. But there is no difference from fiat money apart from using blockchain technologies. They will still be under control and regulation.

[Kimonoe]

Actually, the authorities of different countries see the popularity of the crypto market, but they can’t put up with this unregulated system. They are used to keeping everything and especially finances under control. That is why they want to replace crypto with state digital currencies. But there is no difference from fiat money apart from using blockchain technologies. They will still be under control and regulation.

indeed what is happening now is that countries choose to create their own digital currency, and this is the same as fiat currency, only in a system that adopts blockchain. from this it can be seen that the government still does not want to lose control of its currency, and seems unwilling to use only 1 currency for the whole world.