What do you think about the name and the visual elements of the upcoming Jamaican CBDC?
the name of its upcoming central bank digital currency 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 confused with a decentralized exchange , and its logo is"terrible," according to the community 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 J$600,000 home, the community is somewhat left unsatisfied with the result. . Is it a CBDC or a DEX? And I appreciate the attempt at crowd sourcing the design - fairly Web 3 of you but... this logo cannot work. It should have been put to a broader voting mechanism - the panelists let you down here big timeIn the cryptocurrency world, a 'DEX' usually refers to a decentralized exchange. A decentralized exchange refers to an exchange where there is no centralized authority, but rather a network of peer-to-peer nodes.