The reserve Bank of Zimbabwe is willing to explore blockchain technology and its applicability in public administration. This was stated by Bank Governor John Mangudya, writes

According to him, the blockchain is “developing global innovation”, and the controller is ready to accept this technology adopted by many other Central banks.

“Zimbabwe cannot ignore this phenomenon. However, we are talking about research of the blockchain, and cryptocurrency is not, because the technology of the distributed registry is above them,” explained John Mangudya, noting the need for a cautious approach to the issue.

However, Bank Governor stressed that before accepting the cryptocurrency in the country, it is necessary to thoroughly examine their nature.

“We are against things that are not in our jurisdiction. First we need to know where the bitcoins are mined, and who hunts them. So before you take them, we need to understand what they are”, said John Mangudya.

He also said he believes the cryptocurrency analogue electronic money, arguing that they also need a wallet for storage.

It is noteworthy that in may the Reserve Bank of Zimbabwe has banned financial institutions from conducting any transactions with bitcoin and other cryptocurrencies.

Due to the pressure of the Central Bank in June, the leading bitcoin exchange Golix decided to move out of the country.