Zimbabwe: Govt Jumped the Gun On Cryptocurrency Ban

analysis

Only a few days ago Minister of Finance and Economic Development Patrick Chinamasa announced that Zimbabwe's economy was now 96 percent cashless and a few days later the Reserve Bank of Zimbabwe announces that they are banning cryptocurrency without specifying the reasons.

This is an extremely popular idea considering that Facebook has introduced its own cryptocurrency https://www.financemagnates.com/cryptocurrency/news/exclusive-facebook-launch-cryptocurrency-massive-ico/. Could it be that RBZ does not understand what cryptocurrency is? The RBZ should be at the forefront of these new technology currencies. As ICT professionals we would like to remind the RBZ that cryptocurrency is here to stay and the best we can do is to introduce our very own Zimbabwe cryptocurrency.

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