The ReserveBankZIM is looking to introduce a gold-backed digital currency to hedge against the volatility of its local currency. camomileshumba reports.
The tokens will be a form of electronic money backed by the country's gold reserves, which will be held by the central bank. RBZ wants people holding Zim dollars to be able to exchange their money for the gold-backed token to help them hedge against the volatility of the local currency.
The Zim dollar is known for being volatile. A year ago, 1 U.S. dollar was worth about 150 Zim dollars, now it's closer to 1,000,RBZ announced in August that it planned to create
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