Although the central bank, the Reserve Bank of Zimbabwe (RBZ) succeeded in banning cryptocurrency trading, they failed to kill the cryptocurrency fanatic’s spirit, or rather their entrepreneurial spirit. Now a certain start-up has upstaged ‘RBZ’s ban’ by launching a cryptocurrency called ZIMBOCASH. Obviously, that’s much to the chagrin of the RBZ. Here is their press release;
We are proud to announce the launch of ZIMBOCASH – a cryptocurrency that is available to all Zimbabweans at no cost.
ZIMBOCASH is a cryptocurrency for all Zimbabweans. Any Zimbabwean with a Zimbabwean ID can register for their 100 000 ZIMBOCASH at www.zimbo.cash and will get more when they refer friends.
Following the registration period, we’ll launch the ZIMBOCASH cryptocurrency on a fixed blockchain. That means no more money printing. Only fast and secure transactions.
We’ll list ZIMBOCASH on a bitcoin exchange at a list price of US$ 0.02 each. Based on this value, each 100 000 ZIMBOCASH allocation could be worth up to $2 000. Buyers and sellers will be able to trade ZIMBOCASH with reference to a market price.
The registration period is for three months only – no new ZIMBOCASH will be allocated after 31 January. International buyers will be able to purchase ZIMBOCASH on the secondary market from Zimbabweans once it is listed on the exchange.
A white paper detailing ZIMBOCASH can be found on the website, www.zimbo.cash together with the registration form and other key details.
The official details are as follows:
Organization name: ZIMBOCASH
The Republic of Zimbabwe is a country located in the Southern Africa region. Its capital city is :Harare and the country has 10 provinces. Zimbabwe is 390,580 sq km and is bordered on all sides by other countries (Zambia in the north, South Africa in… Read More About Zimbabwe
The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides… Read More About Reserve Bank of Zimbabwe