What you should know about ZimboCash
Zimbabweans from all walks of life who have been following Zimbocash since 2018 breathed a sigh of relief and celebrated as the system went live end of June 2020.
This marked an increase in people sharing their links so others can join and grow the network. The more the merrier and moreover when someone clicks your link or sign up you are eligible to get some ZASH as a bonus.
What is Zimbocash?
ZIMBOCASH (ZASH) is a decentralised currency for Zimbabwe. Zimbocash addresses the challenges of hyperinflation caused by rampant printing of money. With ZASH, the supply of money is fixed. All Zimbabweans who sign up are allocated with ZIMBOCASH.
The goal is to see ordinary Zimbabweans using ZASH to transact between themselves making reference to a market price.
Since then the network is growing profoundly as can be witnessed by new numbers joining Zimbocash daily, ads on social media and ZASH Official Telegram group boasting over 4600 members at the time of writing.
You can access the Telegram group at t.me/Zimbocash.
- Is ZimboCash replacing bond notes and Zimbabwe dollars.
ZimboCash is an alternative currency meant to work hand in hand with the Zimbabwean currency
- When can the public expect to transact using ZimboCash?
Anytime. At the moment some people are willing to sell using ZimboCash.
- Who owns Zimbocash?
Anyone who has Zimbocash in their wallet owns it. Everyone in the network owns it. The founders of Zimbocash are Philip Haslam and Laswet Savadye.
- Is it safe since it is virtual currency?
It is safe. It is built on the TRON protected by the proof of stack. The security of the block chain cannot be compromised as it is built on the internet.
- How about owning numerous accounts, is it allowed and legal?
It is not legal. People should comply with KYC
- Is the government of Zimbabwe open to adoption of Zimbocash?
The government of Zimbabwe was approached in May 2019 and did not stop Zimbocash from its focus. Instead the government said they are crafting frameworks for Fintech.
- What else do people need to know about Zimbocash?
You have to know that Zimbocash is not anti-government, we want the government to be part of the system. Our desire is for Zimbocash to be quickly adopted and used by anyone in Zimbabwe to transact. In order for this to happen we need legal tender status for Zimbocash.
In return for legal status, the government will get 10% of the allocation of Zimbocash and a third of the transaction fees that are paid by people who transact using Zimbocash.
People have to know that Zimbocash is not a government movement. The government did not initiate this.
It is a movement initiated by Zimbabweans who desire sound money after witnessing the collapse of the economy due to rampant printing.
It is critical for people to also know that ZimboCash is not a SCAM.
Zimbocash is free and no one is paying any money to receive ZimboCash. Just head up to https://zimbo.cash/register and sign up.