ZIMBOCASH Next Steps to Launch
It’s been over a month since our last fireside chat. Our ambassador program has grown to over 200 ambassadors. Our sign-ups have grown markedly with approximately 100 to 200 new sign-ups every day. The conversations are expanding, and we have had many questions from interested people.
Current Zimbabwean Outlook
The Zimbabwean currency environment is unstable at the moment. The government has outlawed the multicurrency regime and then has subsequently reintroduced the US dollar for certain transactions. Inflation rates continue to rise and electricity cuts have become severe. The government has increased interest rates substantially to try to limit the growth in the money supply – this is a good thing but whether it is enough to stop inflation expectations is unclear.
As you will know, our goal with ZIMBOCASH is to establish a decentralised currency that is fixed in supply – where you can rely on the fact that no-one will be able to print money for themselves more than what the system has allocated.
We initially began as a small grouping of people and it has been building in momentum. What started as an interesting idea has grown in substance. From our side, the workload has increased substantially.
One of the questions we get the most is, “When will ZIMBOCASH be tradable”. We wanted to bring you into the loop on our IT development and the process we have taken so far – hopefully you’ll understand why it is difficult to answer that question right now.
We had initially wanted to build a decentralised volunteer IT community along the lines of the Bitcoin, Monero and Ethereum development teams. We launched our Core Developers application and had 32 applications in six weeks. We interviewed the more qualified applicants (apologies to the others who didn’t make the interview cut) but began to realise in the process that the quality of planning and coding we needed required an experienced development team who were paid to design, develop and test the system properly.
ZIMBOCASH needs experts in the field of IT generally, but it also needs experts in the field of blockchain technology, a highly specialised field where developers are very much in demand and charge a premium fee. Of course, we also want the right people – developers who understand the heart of what we are doing.
We have interviewed many development agencies and explored the market for skilled developers in this category. The more we look, the more we come to terms with the fact that the development of the code must be world-class.
To do this, we have had to look at introducing a strategic investor. We have had several interested parties and continue our discussions with them. However, for now we are settling on a pre-seed round of investment for the purpose of funding the IT infrastructure needed.
We have had to take the time to do this right. No-one sets out to redesign a national currency and payments system from scratch without solving serious system development issues.
We’re on the right track though.
We have three firm goals that we need to target.
- The first is to develop the appropriate IT solution.
- The second, is to launch ZIMBOCASH on an exchange. There are some exciting developments with regards to the exchange launch which we will keep you posted on as we progress.
- The third is your role – we need to continue to grow the network, to have conversations about what this movement could become, and each look to accumulate as much as we can do.
Suffice to say, we are hard at work. Please be patient with us. We are especially grateful to our ambassadors who have been doing an amazing job. Our lead ambassadors have done particularly well.
And mostly, we want to thank you – our ZIMBOCASH family across the board. You add value to the network just by being a part of the community. That’s how the network effect works.
You have an important role in this – something that we cannot replace. You are foundational to the development of this network. Your role is important and without you, ZIMBOCASH cannot grow.
Other great links:
Hello ZIMBOCASH family. Last week we mentioned in our fireside chat that we thought that the multicurrency regime would be removed. It happened a lot faster than we anticipated. Yesterday, it was announced that the multicurrency regime would be suspended and the...read more
Well, the fires of inflation are burning as bond notes/RTGS dollars are being printed on a massive scale. We don’t blame the government. It is in a precarious predicament. When we did our roadshow in Zimbabwe four weeks ago, the black-market rate for 1 US dollar...read more
Well, what a great last few weeks. We’ve just come home from a bustling road trip across Zimbabwe. Three of our team members crammed in presentations across four cities, running workshops and meetings with our ambassadors. It was the feel-good tour of the century...read more
You're invited to our ZIMBOCASH workshops We’re doing a roadshow and are conducting informational workshops in Bulawayo and Harare. You’re invited. Do you not know what cryptocurrency is? Have you ever wondered how it works? Is Zimbabwe ready for a currency based on...read more
My name is Ana. I’m part of the ZIMBOCASH team. My role is to handle operations and commercial support. I am South African but I have lived in places all around the world, so I consider myself a global citizen. I’m so proud to be a part of this movement. It is...read more
Greetings ZIMBOCASH friends Lots of things are going on right now and ZIMBOCASH is growing in momentum. We’ve had a large number of applications to the ZIMBOCASH Ambassador program – we’ve closed applications for now. We are doing a roadshow in the next few weeks...read more
Hi ZIMBOCASH friends Our press release went out today. You can find it below: Can the Zimbabwe currency situation be solved using innovative technology? Zimbabwe has been ravaged by price increases and shortages of basic commodities such as fuel. A new technology...read more
No-one likes it when prices rise. And particularly when there are shortages. Zimbabwe is in the hot seat and it’s not because the economy is just doing badly. It has everything to do with money. When prices rise across the economy, the usual suspect is money...read more
Hi ZIMBOCASH friends Happy new year! We hope you have had a great festive season. ZIMBOCASH is gaining in momentum. It is clear in our mind what we’d like to achieve – we want a decentralised currency for Zimbabwe that is fixed in supply and available to all...read more