The Zimbabwean currency’s collapse in 2008 and record hyperinflation are widely seen as textbook examples of what can go wrong with a centralized currency. For instance, some cryptocurrency enthusiasts — as well as opponents of the fiat currency system in general — have routinely pointed to the Zimdollar’s collapse when arguing for an alternative monetary system.
In other instances, entrepreneurs like those behind Zimbocash, a decentralized currency and payments platform for all Zimbabweans, have already launched such an alternative. They hope that this alternative to a central bank-issued fiat currency will demonstrate to all that sound money which enables people to save is still possible.
To learn more about this Zimbocash system, Bitcoin.com News reached out to Laswet Savadye, Head of Subscriber Network. Below are Savadye’s responses to questions sent to him via Whatsapp.
Bitcoin.com News (BCN): Can you start by telling us what brought about this idea?
Laswet Savadye (LS): We’ve been passionate about sound…