Zimbocash… central bank 2.0?
Venezuela's Nicolas Maduro may have beaten them to the
punch with the Petro coin, but that doesn't seem to be stopping
currency-less southern African nation Zimbabwe from pioneering
crypto-technology in the quest to restore its fortunes.
Zimbabwe scrapped its own currency in 2009 after sharp
hyperinflation and pegged its quasi-currency bond notes to the
US dollar, but as time has passed the system has become
untenable. In February, authorities removed the peg, allowing
rates to deviate. Recent shortages have led to rises in oil and
goods prices, and general unrest.
The country's central banking system has been in turmoil now
for some time – and some see blockchain as the