Zimbabwe Govt Enforcing Acceptance of Zig Currency for Business

Zimbabwe Govt Enforcing Acceptance of Zig Currency for Business

By Novasky | DevPress | 5 Jun 2024


Zimbabwe govt has managed to create their local currency pegged to the gold. And they have named this currency as the Zig. Where the currency has made it possible for the people to spend both offline and online. However ever since the crypto is coming into the Zimbabwe they have noticed the govt currency is being ignored and the people have lost the trust about the currency. In such case, they are asking the consumers to report the business that does not accept the zig in their trade, transaction etc. 

In this whole enforcement saga they have made sure to arrest the people who are trading the forex while demeaning the local currency. And also reduced the amount of crypto exchanges that allow to bypass the local currency. Which means that the crypto is a threat to the small nations that wants to have their own identity and crypto happens to take that away from the govt. 

Zig is an attempt to make the currency more stable but each attempt continues to get wasted due to the bad actors in the soil. And in turn the amount of efforts it takes for the govt and the consumers to fight such invasive attempt on the nation has to be dealt with. This is one of the reasons I dont like consumers going all in on the crypto. As that would only invite the invaders. Africa had been under the slavery of the Brits and the other europeans for years and the crypto can open that door again. 

Zig needs more regulation and more enforcement and more exposure in the crypto and international market. They need this for their own nation!

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Novasky
Novasky

Crypto Blogger and Open Source Developer.


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