While Uncle Bob has been messing around with his country’s economy like it’s just another one of his playthings, citizens have been forced to find other means of survival, namely bitcoin. It all began when the country was hit with a severe currency shortage, forcing Zimbabweans to look to digital alternatives in order to continue with their daily lives. She bitcoin clickhole bob soaring demand to drive the price even higher. Even before the current crisis, Zimbabwe offered favorable conditions for bitcoin adoption.
The country ranks third on the Bitcoin Market Potential Index, created by economic historian Dr. Garrick Hileman of the University of Cambridge, just behind the inflation-plagued economies of Argentina and Venezuela. The Index cites Zimbabwe’s vast informal economy and history of financial crises as key factors that could drive bitcoin adoption. The underlying takeaway is that cryptocurrencies are here to stay and have a place in the world where monetary policy and fiat currencies cannot be trusted.
It’s only a matter of time before an emerging or frontier market government decides to adopt a cryptocurrency as a foundation for credibility, transparency, accountability, and attraction of foreign capital. I guess the future really is now, at least for our neighbours. Think It’s Unfair That Office Smokers Get To Take So Many Breaks? The BBC Reckons SA’s Cash-In-Transit Heists Are A National Emergency Listen, we all know that cash-in-transit heists in South Africa are out of control. As with the rest of the world, interest in bitcoin is soaring in Zimbabwe. But, unlike the rest of the world, it is becoming a legitimate way for Zimbabweans to do business in a country strapped of cash. Click here to check 10 things you can buy using bitcoin in Zimbabwe, including airtime, day trading and online payments.
Guess bitcoin will continue to soar whilst Bob buries his head in the sand. I wonder if Didi and his family will move to Zimbabwe now? The BBC Reckons SA’s Cash-In-Transit Heists Are A National Emergency Listen, we all know that cash-in-transit heists in South Africa are out of control. Developing a Bitcoin Cryptocurrency Application with Node.
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