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RBZ Launches Digital Gold Tokens

A ccording to an interview with the Sunday Mail newspaper, the Governor of the Reserve Bank of Zimbabwe, Dr. John Mangudya, has announced th...

RBZ-Launches-Digital-Gold-Tokens

According to an interview with the Sunday Mail newspaper, the Governor of the Reserve Bank of Zimbabwe, Dr. John Mangudya, has announced the launch of a new type of currency called "digital gold tokens." 

He believes that this currency will play a vital role in stabilizing Zimbabwe's rapidly depreciating dollar, which has weakened considerably in comparison to the American dollar. 

Dr. Mangudya has stated that this new currency will serve the same purpose as the currently circulating "Mosi-oa-Tunya gold coins." 

He has also noted that anyone can purchase these tokens, in contrast to the "gold coins," which are only available to a select few individuals. 

However, it is uncertain whether the government's efforts will be effective. 

Dr. Godfrey Kanyenze, a leading economist at the Labor and Economic Development Research Institute of Zimbabwe, has expressed skepticism regarding the new currency's potential success. 

He has argued that due to a lack of confidence in the Reserve Bank of Zimbabwe, similar attempts to stabilize the economy through initiatives such as the gold coins have failed in the past.

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ZimNewsDaily: RBZ Launches Digital Gold Tokens
RBZ Launches Digital Gold Tokens
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