The Bank of Jamaica – harnessing technology from eCurrency Mint – was one of the first countries to launch a nationwide central bank digital currency (CBDC). Now, more than 100 central banks are engaged in CBDC work.
eCurrency’s CBDC technology strives to offer seamless interoperability with existing wholesale and retail payments infrastructure via bank and non-bank financial intermediaries. For example, the Bank of Jamaica’s ‘Jam-dex’ CBDC is distributed to businesses, merchants and individuals. To ensure security for the Jamaican central bank, the tech company pioneered and operationalised digital symmetric core currency cryptography (DSC3) technology, which ensures the digital bearer instrument contains layers of security to prevent counterfeit, including protection against attacks by quantum computers.
