The claim by the BOJ follows the completion of an eight-month test run that commenced in May 2021. cbdc centralbank digitalcurrency
The Jamaican central bank successfully completed the pilot testing of its central bank digital currency, a statement from the bank has said. The statement however reveals that only one payment service provider participated in the pilot.The Bank of Jamaica recently revealed that it had successfully completed the trial of its central bank digital currency . The claim by the BOJ follows the completion of an eight-month test run that commenced in May 2021.
The statement also explains that the success of the pilot project had been “dependent on whether a CBDC along with the attendant technology solution could be successfully implemented in Jamaica.”The statement reveals that three activities were completed during the pilot phase. The first of these activities was the minting of $230 million worth of CBDC “to be issued to deposit-taking institutions and authorized payment service providers.
In turn, the 57 customers went on to conduct person-to-person, cash-in and cash-out transactions via “37 accounts and completed transactions with small merchants through an NCB-sponsored event, ‘Market on the Lawn’ held earlier in December 2021.”