Frequently Asked Questions
What is ZIMBOCASH?
ZIMBOCASH is a cryptocurrency – it is an attempt to solve Zimbabwe's money problems using blockchain technology. Our goal is to establish an alternative money and banking system in Zimbabwe.
How do I join?
You can join here.
Does it cost anything?
It is free to join if you have a Zimbabwean cellphone number of ID book. You don't have to pay anything – we will never ask you for your money. If you are not from Zimbabwe, you will be able to purchase ZIMBOCASH on the secondary market once the blockchain has been launched.
How do I get ZIMBOCASH?
You allocation of ZIMBOCASH will be made when the blockchain is launched.
Who is ZIMBOCASH?
We’re a broader community of people in Zimbabwe and around the world who have a passion for the country and for sound money and banking. ZIMBOCASH isn’t a corporation and neither is it one person. Rather, it is a collective of volunteers who have a vision for this simple idea – Zimbabwe is one of the few countries in the world where a decentralised fixed currency and banking system could be implemented by people living on the ground. You can read more about this on our first Fireside Chat letter
Is this a scam?
No, ZIMBOCASH is not a scam. We will not now, nor will we ever ask you for your money.
Is this a pyramid scheme?
No, this is not a pyramid scheme. No-one’s earnings are based on what others pay. ZIMBOCASH is given to everyone for free but those that refer others are allocated more.
Is my information secure?
The information you give us is secure – passwords are encrypted, the database has appropriate information security including two-factor authentication for our data engineers and appropriate fire-walls.
How will it benefit me?
Zimbabweans will be able to use their ZIMBOCASH to make payments, transfer offshore with ease and convert into international cryptocurrencies. ZIMBOCASH will be tradable on an international Bitcoin exchange. International buyers can only get their ZIMBOCASH by buying them from Zimbabweans. The current estimated price of ZIMBOCASH is US$ 0.02 each.
When will I get ZIMBOCASH?
Once the final registration deadline is over, no further sign-ups will be allowed. The registration database will be converted into fixed ZIMBOCASH tokens tradable on a wallet using the latest blockchain technology. We will need some time to put this in place so we will launch a beta system first which will enable basic transfers and give you access to your ZIMBOCASH. Thereafter we will establish a full blockchain system.
How will I get ZIMBOCASH?
When the ZIMBOCASH blockchain is launched, you will be able to access an online wallet where you can log in to your account and see your ZIMBOCASH balance. You will have a ZIMBOCASH account number. People will be able to send ZIMBOCASH to your account. You will be able to send ZIMBOCASH to others.
Are there international buyers?
ZIMBOCASH will be tradable on international Bitcoin exchanges so you will easily be able to make international payments.
What is a cryptocurrency?
A cryptocurrency is a digital currency that is operated on a decentralized server. They rely upon mathematics and the network effect in order to be generated, used and to create value.
How is the supply of ZIMBOCASH fixed?
Once we have finalised registrations, we will launch the blockchain. It is designed in such a way that it is impossible for anyone to create more ZIMBOCASH than is established by the system.
Can I trade ZIMBOCASH outside of Zimbabwe?
ZIMBOCASH will be tradable on international Bitcoin exchanges so you will be able to make international payments, transfers between parties both locally and internationally, and remit funds without hassle.
What is a white paper?
It is a document that contains the detail of a cryptocurrency.
Zimbabwe is one of few countries that could implement a decentralised currency system on the ground. With the weaknesses in the money and banking system in the past 20 years, the people of Zimbabwe have learnt how to innovate and adopt creative solutions to their economic problems.