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