Hyperinflation in Zimbabwe - is cryptocurrency the savior?
This is a fascinating topic - the money in Zimbabwe has suffered hyper inflation for the past few years, to the point that 100 One hundred trillion dollars was worth just $0.40 USD! This is incredible and shows how government policy can affect money supply and the value of money.
Zimbabwe has since ditched its currency and now accepts a wide range of other currencies and the official currency is the USD.
This has opened up the door for crypto as a national currency for Zimbabwe (or atleast a worthy alternative!). This is what startup Zimbocash is trying to achieve. The good thing about crypto is a currency choice is that it cant really be manipulated and in theory should remain more stable over time.
Will be interesting to see how this develops over the coming years.
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That’s so bizzare and incredible in many crazy ways...
The usd will be much more stable, I would love to say crypto’s are the answer but with the volatility... maybe I just don’t know enough :)
Yea man. Still feels like we are early to something that will change the world 😁