A month ago, ZIMBOCASH (ZASH) listed their cryptocurrency on Bithumb Global. In our article on the listing, one of the questions we raised was where people getting the crypto would actually use the currency.
A press release from ZASH yesterday suggests they are taking strides to address that. On Monday, ZIMBOCASH enabled peer-to-peer payments using the token and they claim since doing so they have had 13 000 transactions and 2 400 account activations.
Several ZASH marketplaces have already opened up with goods such as food and personal services being sold peer-to-peer using ZASH. Business all over Zimbabwe may soon be pricing their goods and services and even paying their staff in ZASH.ZIMBOCASH press release
The statement above is exciting but the only issue is it’s not clear where these marketplaces are at the moment. I tried searching online to see if these are online retailers and all I could find was this one group on Facebook and a WhatsApp group.
We’ve reached out to ZIMBOCASH so they can share more details regarding the marketplaces and how they will actually work.
It would be wise to hold your horses on transacting until you are actually aware of how exactly ZASH is being valued and which marketplaces and sellers are legit.
The DStv seller in the above pictures is one example of what seems like a dodgy seller – the seller is promising lifetime access to DStv for 20 000 Zash which is about US$60. Sounds too good to be true if you ask me.
Interestingly, we’ve also seen people already seen demand for the currency and offering to trade the currency for EcoCash;
If ZASH is indeed gaining as much traction as the company is saying they have started off strongly. ZIMBOCASH will need to figure out how to take the network offline since users need an internet connection to send to others on ZASH.