2023-8-15 22:25 |
Physical and digital gold tokens have been a big success as investments and an inflation hedge in Zimbabwe, which continues to face triple-digit inflation.
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In a bid to tame inflation, the Reserve Bank of Zimbabwe (RBZ) is set to launch a new gold-backed digital currency. The post Gold-Backed Digital Currency May Help Zimbabwe Hedge Against Inflation appeared first on BeInCrypto.
2023-4-24 13:22 | |
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Zimbabwe, currently faced with incredible inflation and tough sanctions, could massively benefit from increased adoption of the open network of Bitcoin.
2022-7-6 05:00 | |
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Cryptocurrencies' 2020 gains are the truth gauge as markets react to the Federal Reserve's inflation goal, where Zimbabwe is the model of success.
2020-9-15 15:56 | |
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Venezuela’s inflation rate topped 130,000% in 2018 as peer-to-peer Bitcoin and Dash transactions reached new all-time highs month after month. Bitcoin Thrives in Broken Economies For the past few years, the Venezuelan economy has been rocked by political and economic instability that has led to shortages of food and medicine, nationwide blackouts, riots and unstoppable hyperinflation that rivals that of the Zimbabwe dollar in the 1990s.
2019-8-20 14:00 | |
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Ten years ago, Zimbabwe scrapped its national currency after the inflation rate climbed astronomical levels. Now, a decade later, the Zimbabwe dollar is making a comeback. But Zimbabwean expect the new currency to tank.
2019-7-11 21:18 | |
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Coinspeaker Zimbabwe Central Bank Introduces Plan to Sell Gold-Backed Digital Tokens The central bank of Zimbabwe introduced this gold-backed digital currency to combat the volatility of its national currency.
A Zimbabwean fintech lawyer, Prosper Mwedzi, recently initiated a process that seeks to bring recognition and regulation of cryptocurrencies. Under this private member bill procedure, a legislative proposition initiated by private citizens will be debated in the Zimbabwean parliament.
One of Zimbabwe’s biggest financial institutions, CBZ Holdings says it is looking at ways it could “leverage cryptocurrencies and other emerging digital innovations. ” According to the financial institution’s chairperson, Marc Holtzman, CBZ “is open-minded about new innovations, as these could open up new opportunities going forward.
Zimbabwe’s deteriorating economic situation is forcing authorities to sign off on some desperate and controversial decisions. Some of such decisions include the abrupt suspension mobile money as well as the recent designation of Zimswitch as a national payment switch.
Economy & Regulation The governor of the Reserve Bank of Zimbabwe has made several statements about cryptocurrencies that attest to insufficient knowledge of the matter. The major financial institution of the inflation-ridden African country considers blockchain a “new developing global innovation” and is willing to embrace it, according to its governor, John Mangudya. John Mangudya
