Tendai Biti Eyes Bitcoin To Fix Zimbabwean Economy
If Zimbabwe establishes a privatised bitcoin national currency, if the market naturally went to a bitcoin type currency, as other currencies around the world indicate weakness with money printing happening, you’d have a whole lot of currency flowing into Zimbabwe. Zimbabwe would transform from a basket case to a global banking centre in a stable crypto currency. And that would be fairly quick.
I share your idea of a national digital currency like Ecocash but running on the blockchain but our central bank providing the system it is a hybrid system between the fiats USD and bitcoins that allows formalisation of the blockchain system.The good thing about bitcoin is that it is deflationary.Watch what Japan has done: adopting bitcoin as a formal currency .This is because it will skyrocket their economy when bitcoin is going to be worth 13000USD end of 2018 .such a parallel run of currency gives us leverage.If Zimbabwe would see the technical advantages we would do something.