The governor of the Reserve Bank of Zimbabwe has made several statements about cryptocurrencies that attest to insufficient knowledge of the matter. The central bank, which recently banned financial institutions from working with crypto companies, now wants to study and embrace the blockchain technology that “encompasses all the cryptocurrencies.”
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CB Governor Wants to Know Where Bitcoins Come From
RBZ, the central bank of troubled Zimbabwe, has initiated studies to investigate the blockchain technology and its possible applications. The major financial institution of the inflation-ridden African country considers blockchain a “new developing global innovation” and is willing to embrace it, according to its governor, John Mangudya.
On Wednesday, Mr. Mangudya told guests attending the Alpha Media Holdings Banks and Banking breakfast meeting in Harare that RBZ is moving in that direction, just like many other central banks around the world. “In fact, it is true that for the rest of the world, if you go to countries like United States, China, United Kingdom, and South Africa, it [blockchain] is the issue that is being discussed by the central banks, including the likes of the International Monetary Fund,” he explained.
John Mangudya
Like many of his colleagues, John Mangudya made it clear that he is not referring to the digital money underpinned by the blockchain technology. “I did not say cryptocurrencies because it is lower than blockchain. Blockchain encompasses all the cryptocurrencies such as bitcoin and we are saying we are putting in motion studies, ways and means of investigating that blockchain technology,” he elaborated, noting the need for a cautious approach but also stressing that RBZ should not be “left out” on these developments.
“What we are against as I have always
