How do you think JAM-Dex ( the new Jamaican digital dollar / CBDC) will affect the lives of people in Jamaica, seeing that it is a developing nation?
I personally think it’s going to make paying bills especially taxes easier, the younger people who don’t want to wait in long lines to pay bills are gonna adopt it fast Tthey will intern teach their parents and grandparents and spread the word to their friends.
I personally feel like at least on person in every household should have a Jam dex walket.
The thing is, many worry about privacy, when they are using a credit /debit card and it’s the same thing with added features nd more liquid. But just like a credit card you wouldn’t want to make every purchase using the Jam dex.
In terms of crime if people stop carrying around wads of cash. It will be difficult for the old school criminals to rob individuals or business for cash. Then we will see the rise of more sophisticated criminals, more consequence and threat based crimes. Like, leave 100,000 at xyz or else. Then we will see the hackers and the gangsters linking up.
If someone steals your phone with a Jam dex wallet installed, they can’t send the money to themselves, if they go to ABM to cash out , they will need your password/PIN number. So we could see a rise in kidnapping style robberies.
What I would personally like to see is the JAM Dex actually helping to spread the decentralized currencies such as Bitcoin by by making it easier to cashin and out. I believe this will be done by underground middle men at first and then legal entities. The same goes fro remitance services using JAHM Dex. For a more detailed explanation of my thoughts on JAM DEX and how it will impact Jamaican Society, give the video a watch.
What are your thoughts on the JAM Dex, Jamaica's digital currncy exchange?
▶️ 3Speak