Part two of our discussion on the benefits of cryptocurrencies and blockchain technology is a more focused one. In this episode, we look at the use cases for the blockchain and cryptos that go beyond financial services. And I was joined yet again by Financial Services Lawyer and Blockchain Technology Analyst, Prosper Mwedzi.
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Former member of the Reserve Bank of Zimbabwe’s MPC Eddie Cross joined us to talk about SI 127, the Forex Auction and the Zim economy in general.
The reluctance of the financial authorities to test out blockchain technology and cryptos is setting Zimbabwe back decades.
If you deposit USD into a local foreign currency account, that money is not covered by the Deposit Protection Corporation (DPC). This means if a bank goes belly up there are few guarantees that your forex could be recovered.
ZIMRA recently gave a grace period for the importation of cars that are 10 years or older. Now, this comes after the ban the govt instituted in April 2021 which leads us to believe it’s all about the revenue dip ZIMRA was experiencing on its end.
Zimbabwe’s Cannabis grower’s licence is priced way too high and this is keeping the country from a rapidly expanding and lucrative industry.
Cover Image Credit, Hacker Noon