ZIMBOCASH achieves breakthrough in Zimbabwe
ZIMBOCASH, the ground-breaking decentralised currency system for Zimbabwe, has launched its updated payment system, where all its users are fully verified.
Head of Communications at ZIMBOCASH, Philip Haslam, says it’s a massive step. “We are now able to verify the identity of our subscribers while enabling a payments system that can handle the transactions of a nation. It has been a lot of work for our team, but we have done it. The system is working well, having facilitated over 134 000 transactions on the blockchain. We are building a network of verified subscribers and providing payment services to them using the ZASH token, which can be used in day-to-day trade.”
Haslam says ZIMBOCASH took the phased approach to the launch of its ID verification system, which started in April 2021. “We have closely monitored feedback and adjusted where necessary. We’re able to catch scammers quickly, with the comfort that each user is a unique Zimbabwean.”
The ZIMBOCASH wallet enables individuals all over Zimbabwe to pay with ZASH. “It works just like an online bank account. When people first log in, they can receive and make a few transactions before they need to verify themselves. Once a subscriber confirms their ID, passport or drivers’ licence, they receive a ZASH allocation and can continue making payments,” says Haslam.
“The Zimbabwe dollar is collapsing again in hyperinflation, and people are desperate for a viable currency alternative. There are practically no other sound money networks in the country. We are uniquely positioned with the right team to make it work.”
The launch has coincided with a sharp rise in the ZASH market price with over 100% growth in August and a new all-time high. Haslam says, “while we have seen the growth in the token price, our focus is on developing a real payments network between users on-the-ground. This is where the real value lies. We are less interested in day-to-day market movements. Peer-to-peer payments have been the ultimate goal in cryptocurrency circles since the beginning and we are achieving this in Zimbabwe.
In 2020, the supply of ZASH was fixed at 4.5 billion using the TRON Network and listed on the international cryptocurrency exchange Bithumb Global. After the initial launch of the ZIMBOCASH payment gateway, there was a flood of transactions in June 2020 – however, the success attracted scammers. The ZIMBOCASH team took the system offline to increase its user security and added a robust ID verification process, which has now been completed.
ZIMBOCASH offers a variety of incentives for subscribers, including 400 ZASH for those who sign up and confirm their IDs for the first time, and 40 ZASH for every subscriber referred. Subscribers will be rewarded with 100 ZASH for every user that they pay and it’s their first time to receive payment.
Head of the ZIMBOCASH Subscriber Network, Laswet Savadye says, “Our goal has been from the beginning to build a network of subscribers who use ZASH in day-to-day trade in Zimbabwe. Key to this goal is a network of subscribers who transact. We’re particularly looking to recognise those who grow the network in our Ambassador program, where we’re raising decentralised leaders in every community. There is no other cryptocurrency in the world that has a local payments network to this degree. We are pioneering something really special.”
Developing a sound money system for Zimbabwe harnessing blockchain technology is an audacious goal. “Audacious, but absolutely possible,” according to Haslam. “We're on the cusp of what we've been dreaming of for the past few years.”
In a bizarre twist, Zimbabwe is becoming a sound money nation with ZASH as its underpin. As countries around the world resort to huge money printing schemes, Haslam firmly believes that, country-tokens are becoming the next DeFi (decentralised finance).
“We believe ZIMBOCASH is the solution to Zimbabwe’s collapsing monetary and banking system and we’re excited to have the working technology to enable this dream. In short, Zimbabwe can become the sound money centre of the world.”
Business name: ZIMBOCASH
Token abbreviation: ZASH
Telegram group: https://t.me/zimbocash
Exchange: BitGlobal – www.bithumb.pro
Block Explorer https://tronscan.io/#/token/1002984/transfers
Available for interview:
Philip Haslam – ZIMBOCASH Head of Communication
Philip is an economist and a Chartered Accountant (South Africa) and has 13 years experience in corporate finance, having lived in Europe, America and South Africa. Philip studied finance at the University of Cape Town and went on to write a book in 2013 on Zimbabwe’s first hyperinflation, When Money Destroys Nations.
Laswet Savadye – ZIMBOCASH Head of the Subscriber Network
Laswet is completing his doctorate in technologies that can transform Africa. He firmly believes that the inherent principles in blockchain such as transparency, anonymity and decentralisation can help build sound financial systems in Zimbabwe and Africa at large. He has a BBS (Honours) Banking and Finance, ACCA, Mcom Development Finance from the University of Cape Town Graduate School of Business and an Innovative Finance certification
+ 27 84 3510560
To register, go to www.zimbo.cash/register
Subscribers can log into their accounts at www.zimbo.cash/login to make payments.
Dear ZIMBOCASH Family, Greetings from our team. We trust you are well. Thank you for your patience. We’ve been on a radio silence with our fireside chats for the past few months. The reason — we’ve had some changes in our team and we have been working on our ZASH...
Dear ZIMBOCASH Family We have had so much positive feedback since our presentation at the inaugural Anti-Money Laundering conference in Harare last week. Good news, we have uploaded the videos to YouTube — you can watch them here. The main talk from the ZIMBOCASH...
To our faithful ZIMBOCASH Family Big presentation coming this weekWe are excited to announce — we have been invited by the Financial Intelligence Unit (“FIU”) of Zimbabwe to present at the inaugural anti-money laundering conference on the 13th and 14th October 2022....
Dear ZIMBOCASH Family Greetings from us here at ZIMBOCASH. We stand at a moment in history where the central banks of the world are working together to create one globally integrated cashless banking system that will record all of the world’s transactions on a single...
Dear ZIMBOCASH family About a month ago, the US dollar became legal tender in Zimbabwe, as part of the adoption of a multi-currency regime. But the US dollar is not the solution to Zimbabwe’s problems. Here is why. Brace yourself, this is a longer article. We need to...
Dear ZIMBOCASH family Zimbabwe is in a state of major economic turmoil right now. It dovetails with an important announcement from us for our community. The state of ZimbabweThe Zimbabwe dollar is depreciating rapidly as a medium of exchange and the government is...
Dear ZIMBOCASH family, As we write this, Zimbabwe is entering hyperinflation again. When we went live with our ZASH vendor program the price of bread was Z$ 115, today the price is over Z$ 900. That is almost nine times the price it was two months ago. It is not just...
Dear ZIMBOCASH Family Just over a month ago, we announced an exciting collaboration with ZiTenga to provide stores with a cash-out facility for ZASH purchases. Supermarket accepting ZASH As part of this, on the 11th of April, PW Trading, a supermarket in Njube in...
Buy a bag of mielie meal using ZASH! Dear ZIMBOCASH FamilyThe most popular questions we get from people is, where can I use my ZASH? Which vendors use ZASH in trade? This is the crucial question of our network. Without vendors, there can be no buyers. Without...