Information and Communication Technology (ICT) stakeholders have called on Zimbabweans to take advantage of emerging digital currencies like Bitcoins to address the biting cash crisis currently facing the country.
In an interview with 263Chat during the Broadband Economy conference in Harare on Friday, Taurai Chinyamakobvu, a Bitcoin investor in Africa said Zimbabweans need to understand the revolution that is taking place in the world and take advantage of Bitcoin than spending most of their times waiting in queues for cash.
“Zimbabweans need to understand the revolution that is taking place in the world and this kind of staff is evolving and there are a lot of developments happening but this one of Bitcoin is the best.
“Key thing is while you don’t want to spend time understanding money though we run around looking for money, it’s important to understand how this type of money works, it’s important to use it and also its value.
“Bit coin is the only deflationary currency in the world it has got scarcity built in its mechanism so you don’t need someone to print money for you because of that that’s why the value of Bitcoin keeps going up in fact at the moment bit coins are worth much more than gold.
“So it’s important for our people to understand how it works, how to use it, how to acquire it, how to trade it so that they cannot spend most of their time waiting in queues for cash,” he said.
Addressing the same event, Natalie Jabangwe Morris, EcoCash Chief Executive Officer called on the government of Zimbabwe to accept Bitcoin as a mode of payment especially at the time the country is facing a cash crisis.
“I am responsible for the first article that l wrote in 2013 about Bitcoin when nobody was talking about it and l suggested that the Zimbabwean government consider Bitcoin before we came up with mobile money.
“I have actually put a regulation on Bitcoin and we have several countries that are looking into that like Ukraine, United Kingdom so Zimbabweans must utilize the opportunity especially at the time the country is facing cash crisis,” said Jabangwe.
