Zimbabwe: Zimbocash Lists On Cryptocurrency Exchange Platform

The newly-launched blockchain token for Zimbocash, a project that is developing a national decentralised currency network in Zimbabwe, has been listed on major international cryptocurrency exchange Bithumb Global with a free-floating price in trade.

Zimbocash revealed that as the Zimbabwean dollar collapses in value, the token launch and listing propels it forward in providing an innovative solution for fixed money supply, known as sound-money.

The company’s head of communications and economist, Philip Haslam, said in a statement on Wednesday that all the elements of a powerful currency alternative for Zimbabwe were now in place, and it could not have come soon enough.

Haslam believes the Zimbabwean government is now insolvent with little borrowing capacity left.”The impact of the coronavirus pandemic has been catastrophic for the Zimbabwean financial system. The government has admitted that it is going to print money on a large scale to fund itself, which could push the…