Bank of Jamaica Governor Brian Langrin - FILE PHOTO
Bank of Jamaica Governor Dr. Brian Langrin says the bank is currently working with the International Finance Corporation and the World Bank's competitiveness and innovation team to build out its central digital architecture or JAM-DEX.
He stressed that this is extremely important because the digital currency can play an important role during natural disasters while also pointing out that the central bank's role is to ensure that the country's payment system is capable of supporting timely delivery, once the relevant agencies authorize it to do so.
Langrin, speaking at an Institute of Chartered Accountants forum last week, stressed that JAM-DEX has an important role to play in this architecture but it cannot do so alone.
Elaborating, he pointed out that, where the responsible public authorities choose digital payments, the wider ecosystem will need reliable arrangements for identifying the beneficiaries and to give them practical places to spend them.
comments powered by Disqus
All feeds
