Saturday, April 13, 2024

Zimbabwe is now gathering opinions on cryptocurrencies, according to a government official.

With El Salvador adopting Bitcoin as its legal tender, other countries have been debating the idea of using crypto as an official currency. The DeFi network and the transparency that comes along with growing acceptance make it one of the closest things to a world currency.

The head of the E-government unit of Zimbabwe, Charles Wekwete, has suggested recently that the country will only adopt cryptocurrencies after their consultation is over. This means that the IT summit that had taken place recently at Victoria Falls might have been a success or maybe not.

The major concern right now for the government is cryptocurrencies and how they can easily be used for nefarious activities. But he also said the government is looking for an important framework and how it can be implemented in the country.

The government official also said that they are open to offers from Private Sector players and have invited them to be involved in the process. The government has also urged professionals from the IT sector to come forward and educate the public and others on these new-age technologies.

Countries like El Salvador have already adopted these currencies as legal tender and now other people are also looking forward to their adoption. But their Chivo wallet crash and BTC losing its value on launch day means that countries are now skeptical.

Experts had already declared that as a false crash and now are urging people to have faith in the DeFi systems. It is only a matter of time before Zimbabwe reveals its stance on Crypto adoption.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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