Have you heard about Zimbabwe's economic crisis lately? If not, then you might be surprised by what I'm about to tell you. In 2008, a loaf of bread in Zimbabwe would cost you more than a TRILLION Zimbabwean Dollars.
This extreme hyperinflation led to the collapse of their currency, which in turn, led Zimbabwe into a huge economic crisis. In 2009, they adopted the U.S Dollar, which is still the main currency today, but with such high demand for dollars and such little supply, the cash in simply running out.
But don't panic yet, because an innovative solution has been introduced to fix this currency crisis. It's called ECO CASH, and it's a way to make payments by sending a TEXT MESSAGE on ANY functioning mobile device. It basically turns cash into a digital currency (not like Bitcoin or PayPal) -- and you can buy anything with it (from groceries to taxis to street food).
No banks or apps are involved... just text messaging. I am shocked how efficient it works. I met about a dozen Zimbabweans over the last few days, and they all told me that Eco Cash is the only thing holding their economy together until a new currency is created or a new system is put in place..
Do you think Eco Cash would be useful for other countries to adopt? I surely do!
