The Future Coin

Bitcoin

$32,968.62

BTC -5.07%

Ethereum

$1,256.72

ETH -3.59%

XRP

$0.29

XRP -0.59%

Litecoin

$136.39

LTC -7.06%

EOS

$2.66

EOS -3.02%

  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases
No Result
View All Result
The Future Coin
No Result
View All Result
Home Technology News

ZIMBOCASH Lists Cryptocurrency Token & Sets Sights On The Crumbling ZW$

by The Future Coin
May 23, 2020
in Technology News
0
ZIMBOCASH Lists Cryptocurrency Token & Sets Sights On The Crumbling ZW$
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

Earlier this week, ZIMBOCASH – a local decentralised cryptocurrency- listed their token ZASH on Bithumb Global (a cryptocurrency exchange headquartered in South Korea).


In marketing material, ZIMBOCASH is marketing the ZASH token as a replacement to Zimbabwe’s flailing Zimbabwe Dollar. A total of 4.5 billion ZASH tokens have been created with 950 million currently in circulation.

The Zimbabwe dollar was already collapsing with 500% inflation, before this crisis dealt a debilitating blow. We believe that ZIMBOCASH is perfectly positioned to solve this problem by fixing the amount of money in the country using blockchain technology. Our aim is to provide sound-money.


Philip Haslam, Head of Communications at ZIMBOCASH

I believe Philip’s comments about ZIMBOCASH being perfectly positioned to solve the Zimbabwe’s economic turmoil are a bit premature. We reached out to ZIMBOCASH to understand where Zimbos in possession of the ZASH token will be able to use it and Philip explained to me that they are developing that network and expect “organic use of the ZASH network to grow as the currency environment deteriorates in the country.”

Hurdles

A concern I had after going through ZIMBOCASH’s marketing material was how they were going to communicate the concept of digital currencies to the ordinary Zimbabwean – something they’ll have to do if ZASH is to replace the Zim dollar.

Philip explained that they have been doing some work on that front but believes ultimately “the pain that people experience in a collapsing monetary system will cause people to naturally find alternatives that work.”

Right now the clearest incentive to get the token is the fact upon signing up for the token you’ll get 3125 tokens. The issue with that is the value of those tokens will depend largely on the network in which you can use them. If there’s nowhere to use them 3 or 4 months down the line – are they valuable?

The elephant in the crypto-shaped room has been regulation or lack thereof. Interested parties would want to know what guarantees there are that the tokens would be safe. If they get the token, will ZIMBOCASH turn out to be another Golix? Well, probably not since they don’t control the exchange.

It is important to note however that Bithumb the exchange in question has been hacked a number of times;

That has been one of the biggest knocks when it comes to cryptocurrencies. The lack of centralisation seems to come at the price of security and accountability when things go wrong.

Distribution

At the time of writing ZASH is being distributed solely via internet channels (Bithumb and the ZIMBOCASH website). If ZIMBOCASH is to realize their dream of dethroning the ZW$ as the local currency that’s another aspect they’ll have to improve to ensure that the Zimbabweans who aren’t on the internet are also included among those who can transact.


Quick NetOne, Telecel, Africom, And Econet Airtime Recharge

If anything goes wrong, click here to enter your query.




Source link

EDITOR’S CHOICE

Bitcoin price slides for second day

Bitcoin Expecting Huge Move After Struggling At $34K While Altcoins Enjoy Decreasing BTC Dominance (Market Watch)

Blockchain IoT Market Report, History and Forecast 2015-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application

Michael Wu delivers everything from Chinese art to Feng Shui

Ethereum 2.0 on Track as Staked ETH Tops $3.6 Billion

Litecoin – Litecoin – LTC dives to important help attempting to rebound in course of $200 | Fintech Zoom | Fintech Zoom

Best Pick For You

News

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business News
  • Ethereum News
  • Litecoin News
  • Ripple News

Features

  • Market Analysis
  • Opinion
  • Explained
  • Policy & Regulations
  • Top Cryptocurrencies
  • Technology News

Market Tools

  • Market News
  • Price Indexes
  • Bitcoin Price Index
  • Ethereum Price Index
  • Bitcoin Cash Price Index
  • Litecoin Price Index
  • Monero Price Index
  • HeatmapPartner

Cryptopedia

  • Explained
  • Bitcoin101
  • Bitcoin Cash101
  • Ethereum101
  • ICO101
  • Ripple101

© 2020 Coingraph

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases

© 2020 Coingraph

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
bitcoin
Bitcoin (BTC) $ 32,830.00
ethereum
Ethereum (ETH) $ 1,260.64
tether
Tether (USDT) $ 0.998554
polkadot
Polkadot (DOT) $ 16.51
ripple
XRP (XRP) $ 0.286908
cardano
Cardano (ADA) $ 0.341281
litecoin
Litecoin (LTC) $ 134.91
bitcoin-cash
Bitcoin Cash (BCH) $ 449.66
chainlink
Chainlink (LINK) $ 19.75
stellar
Stellar (XLM) $ 0.276301
binancecoin
Binance Coin (BNB) $ 40.20
usd-coin
USD Coin (USDC) $ 1.01
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 32,639.00
bitcoin-cash-sv
Bitcoin SV (BSV) $ 189.55
monero
Monero (XMR) $ 141.94
eos
EOS (EOS) $ 2.65
tron
TRON (TRX) $ 0.029208
aave
Aave (AAVE) $ 170.44
vechain
VeChain (VET) $ 0.031968
tezos
Tezos (XTZ) $ 2.64
nem
NEM (XEM) $ 0.221790
havven
Synthetix Network Token (SNX) $ 14.04
cosmos
Cosmos (ATOM) $ 8.15
theta-token
Theta Network (THETA) $ 1.92
okb
OKB (OKB) $ 6.35
uniswap
Uniswap (UNI) $ 8.12
crypto-com-chain
Crypto.com Coin (CRO) $ 0.074569
neo
NEO (NEO) $ 23.81
celsius-degree-token
Celsius Network (CEL) $ 4.25
compound-usd-coin
cUSDC (CUSDC) $ 0.021565
compound-ether
cETH (CETH) $ 24.93
dai
Dai (DAI) $ 1.00
leo-token
LEO Token (LEO) $ 1.38
iota
IOTA (MIOTA) $ 0.454635
binance-usd
Binance USD (BUSD) $ 1.01
maker
Maker (MKR) $ 1,285.21
dogecoin
Dogecoin (DOGE) $ 0.008592
huobi-token
Huobi Token (HT) $ 5.43
dash
Dash (DASH) $ 106.92
filecoin
Filecoin (FIL) $ 21.99
zcash
Zcash (ZEC) $ 90.65
yearn-finance
yearn.finance (YFI) $ 31,003.00
avalanche-2
Avalanche (AVAX) $ 12.22
solana
Solana (SOL) $ 3.45
kusama
Kusama (KSM) $ 98.74
ethereum-classic
Ethereum Classic (ETC) $ 7.42
cdai
cDAI (CDAI) $ 0.021008
ftx-token
FTX Token (FTT) $ 9.52
sushi
Sushi (SUSHI) $ 6.46
zilliqa
Zilliqa (ZIL) $ 0.069101