BOJ Says Introduction Of Digital Currency Behind Schedule  

• The Bank of Jamaica has admitted that the Central Bank’s digital currency, JAMDEX, is behind its projected target.
• BOJ’s Governor Richard Byles conceded that "we are not where we wanted to be." He explained that this is due to several issues, including the slow transition of the existing technology to accept JAMDEX, specifically the point of sale machines, which need to be adjusted to take a JAMDEX QR code, and that is an avenue that is being worked on.
• He further highlighted that other payment technologies are seeing increased use.
• Byles explained that smaller merchants, in particular, who do not rely on POS machines have been recruited to take JAMDEX.
• Currently, there are over two hundred thousand individuals, who have the capacity on their phone to pay for their services and goods with JAMDEX and once that happens, it means that every supermarket, every fast food enterprise; and all kinds of merchants will be able to take JAMDEX.

(Source: RJR)