Zimbabwe finance minister believes crypto can help the country
Zimbabwe seems going to adopt crypto for the payment purpose and probably Zimbabwe can solve big problems that country facing because of lack of adoption of technology.
Every person in the crypto community knows that El Salvador adopted Bitcoin as a legal tender, while some criticized for such a decision, but the main goal of El Salvador’s president was to use the possible advantage of Bitcoin and blockchain technology instead to focus on trollers.
Read also: El Salvador’s Bank to Support Bitcoin Loans with multiple services
It seems that Zimbabwe is going to follow the footsteps of El Salvador. Because right now Zimbabwe is facing high charges in remittances, so probably they may adopt bitcoin or any other crypto asset and may introduce a bill to use crypto as a payment option.
In the latest, Mthuli Ncube, finance minister, finance minister of Zimbabwe, visited to the DMCC CRYPTO CENTRE in Dubai and stated
“I visited the DMCC CRYPTO CENTRE in Dubai, which is a fascinating incubation hub for crypto currency and payment solutions. Came across solutions that could lower charges for diaspora remittances.”
According to the report of Work bank, Zimbabwe lost around $90 million per year to pay cross border payments. So probably huge chances that Zimbabwe may adopt crypto soon at a better level.
Couple of year back, Ncube, stated that people should invest in Bitcoin
“..invest in understanding emerging innovations like bitcoin”
It seems that Zimbabwe will now start to focus on how to enhance the potential of crypto & blockchain based firms to grow in the country, so that country may easily adopt crypto and blockchain technology.
Read also: Zabu Finance Exploited on Avalanche, losts $3.2M
