According to a report, the Reserve Bank of Zimbabwe has commenced trials, or the “dry run” test, for the viability of launching a gold-backed digital currency. Nelson Mupunga, the director of economic research at the central bank, reportedly said the digital currency will act as an alternative to foreign currency.
Local Residents’ Insatiable Demand for the Greenback
The Zimbabwean central bank has commenced a “dry run” to test the feasibility of issuing a gold-backed digital currency which is set to be used as a means of payment, a report has said. The digital currency, which will be accepted as legal tender for peer-to-peer transactions, is part of the Reserve Bank of Zimbabwe (RBZ)’s raft of measures which are aimed at stabilizing the local currency.
The latest revelation by the Zimbabwean central bank official comes just a few weeks after the RBZ initially announced plans to launch the P2P platform. As reported by Bitcoin.com News, the launch of the platform will make it
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