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News Link • Africa: On the Map

Unaware Where Bitcoins Are Mined, RBZ Governor Embraces Blockchain


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."   

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.

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