We're working on the payments system
Hello ZIMBOCASH Family
We wanted to let you know that we have had to take our payments gateway down while we work on our identity validation processes.
We have grown amazingly fast in the last few days with total gross subscribers sitting at 131 000 people. It is really very exciting. Payments were live for a week and we had 93 000 transactions in the seven days. For the first several days, we were doubling our number of transactions every day.
Suspension of payments
However, we unfortunately have had to put the payments gateway in maintenance mode – you won’t be able to make transactions for the time being. We have had some challenges with respect to identity validation of our users – some users were creating multiple accounts.
We had originally been relying on cellphone numbers as a proxy for identity – but a few subscribers were creating scam accounts. Unfortunately, it always is just a few individuals who spoil it for the others.
We highlight that you will not lose your ZASH. Your ZASH balance is safe.
We have interviewed almost 20 different providers in the identity space and will continue to look for solutions. There are effectively two alternatives available to us – we can tweak the cellphone as a proxy for identity model using certain APIs into the existing cellphone/ mobile money infrastructure, or we can develop/acquire our own KYC process which would include an uploaded ID and a “liveness” test.
The first option is easier for us to do if we can get those API’s, so we are investigating our alternatives (and we are open to discussions with any third party who can provide us with that access). The second option is difficult and will take a great deal of additional development.
Whatever the case may be, we need a solution that provides us with confidence that users are valid and unique Zimbabweans. We note that many people have asked us to give a specific date for us to resolve this. It may take a few days, or it may take us a few weeks.
Our goal is to create a payments network between people on the ground for an entire nation. This has never been done before on the scale that we are attempting it. It is audacious and it is creating history in the process. But it is a lot of work for us. Please bear with us as we develop an identity validation process so that we can enable the payments gateway.
We're honoured by all the feedback and goodwill. Thank you for the faith that you have had in the system. And thanks for your continued patience. With everything that we are doing, we are working hard to make a solution that is something that Zimbabweans broadly can use.
New to the community and want to know a bit more about what we do?
Our goal has been to develop a decentralised currency for Zimbabwe where the money supply is fixed. This is ZASH. There are a total of 4.5 billion ZASH tokens that have been created. This is fixed in supply and more cannot be created.
ZASH has been listed on a global cryptocurrency exchange called Bithumb Global, and there is a daily market price which you can see on the https://t.me/bithumbglobal_en group (if you go there and type ZASH in capital letters, the various statistics will come up).
We're allocating 70% of the ZASH tokens to Zimbabweans. All you have to do is sign-up on the website www.zimbo.cash/register and confirm your details.
If you'd like to read more you can do so here www.zimbo.cash/whitepaper.
You can also watch a short video clip on youtube about what we do – please like and share it… https://youtu.be/nD33NvDRuw8. Please leave a comment there as well.
You can also check out our other social media channels on telegram, facebook and twitter. There is a lot of conversation happening in these groups.
Thank you for your patience and we apologise for any inconvenience caused.
The ZIMBOCASH Team
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