Governor of the Bank of Jamaica, BOJ, Richard Byles says the Central Bank will begin testing its Digital Currency, CBDC, next month.
CBDC, is a digital currency, which will only be useable in Jamaica and will be a complement to bank notes and coins.
The BOJ Governor says next month, the Central Bank will begin testing the issuance and redemption process and between September and December the bank will facilitate all types of transactions.
Governor Byles argues, that the digital currency, will be more efficient than using cash.
