Cryptocurrencies: A fad or the future?

Courage Masona Economist & lecturer LATELY, the media has been awash with news that the government of Zimbabwe is considering adopting a new currency (Cryptocurrencies). The rumour was sparked by numerous reports, quoting head of the e-government unit Charles Wekwete, saying the government was in talks with the private sector business to help introduce cryptocurrency in the country. However, the Minister of Information, Monica Mutsvangwa publicly dismissed the rumours. In contrast, the honourable minister clarified to the world that the government was keen on experimenting with central banking digital currency (CBDC). It is not only Zimbabwe that is considering (CBDC)…