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Is #Zimbabwe an Ideal Destination for #Bitcoin ?

Is Zimbabwe an Ideal Destination for Bitcoin?

Whether #Bitcoin would be a better option for the southern #African state of #Zimbabwe to adopt as an alternative method of payment or not has triggered an online discussion this past week.

It follows the news that Zimbabwe will soon print its own version of the U.S. dollar as its economy suffers a severe US dollar shortage.

On 4 May 2016, Governor John Mangudya of the Reserve Bank of Zimbabwe (RBZ) announced that the government will later – possibly this month - issue bonds with a total value backed by a US$200 million #Africa Export Import Bank (AFREXIM) facility.....

Writing in a piece published on techzim.co.zw, L.S.M Kabweza writes:

“Bitcoin is notoriously volatile, but nowhere close to the unpredictable nature of Zimbabwe’s current government, perceived or real. The more important thing however is that reliance on Bitcoin helps with Zimbabwe’s trust problem. No one needs to trust the government to use a cryptocurrency like Bitcoin or to store their money in it. The crypto-currency takes most of the decision-making authority out of the hands of individuals leaving it to a good extent to the mathematics in machines.”

Read Full Article@cointelegraph>>

1 comment:

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