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Zimbabwe's Battle To Control Currency Inadvertently Boosts Bitcoin Profile

04:41 Sunday , July 12th 2020
After the government suspended all digital payments in Zimbabwe, including the business conducted by Ecocash, the Reserve Bank of Zimbabwe (RBZ) announced on July 9, 2020 that Zimswitch is now the only designated national payment switch for all mobile money operators (MMO). All the currency transfer providers and MMOs must connect to Zimswitch before August 15, 2020.
Facing harsh forex regulations, some Zimbabwean turn to Bitcoin for help, leading to the rising of Bitcoin transactions. As cryptocurrencies can't be controlled or suspended by governments in the same way they are operated by companies like Ecocash, Bitcoin can survive despite the hyperinflation in this country.
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