Is Zash (Zimbocash) a fiat currency and other Frequently Asked Questions

ZASH is not Fiat money (Fiat money is paper money , and coins issued by government decree and people have no choice but to use it) There is no government money (Fiat) in the world that is backed by gold. The gold standard (where money used to be backed by gold) ended 50 years ago) The value of ZASH and other cryptos such as BTC come from the size and quality of the network, it’s use cases, and the confidence people have in the coin, as well as the fixed supply of the token. As more and more people join the network, accepting the token/coin as a means of payment, and actually transacting with it on the ground, the value of ZASH will increase due to market forces of supply and demand.

1.How much gold in ounces in your reserves do you have? 

None, gold deposit is not a prerequisite for the valuation of both Fiat(refer to the above - gold standard ended) and Crypto.

2.What is the position of RBZ FIU

The position of RBZ FIU is that we do not have regulation that prohibits or allows cryptos in Zim. So it is not a crime to trade or hold cryptos. The recent Fintech regulatory sandbox especially excluded Cryptos and CBDCs However with the finance minister now exploring the possibility of a government issued digital currency (CBDC) we remain hopeful that regulation for digital currencies will soon come

3.Are you a member of the deposit corporation? How much did you deposit there? 

No and there’s no need. That only applies to banks and other financial institutions as determined by existing law.

4.Where are your offices

We are a decentralised team with no central offices. However if and when the need arises we will look into setting up an office and it shall be announced

 

5.Why are you not connected to zimswitch?

Our ZIMBOCASH ecosystem works outside the bank system. The Zimswitch platform works with the current banking system. We are not part of that system. So there’s no need for us to be part of that system. If future we will have prepaid cards that people will use to swipe and point of sale, but they will be using our own POS devices and not Zimswitch enabled ones.

6.Which networks or platforms are you riding to provide your solution?

Tron network, listed on BitGlobal exchange

7.Where do you store users's data/server location

Amazon servers in multiple locations for redundancy

 

8.Do you have reputable angel Investors who invested 1 million and above

We have a great team of founders and founders who not only reputable, but full of integrity as well as a genuine passion for what we do and the common desire to transform the monetary and banking system of Zimbabwe for the better. The desire is to see the lives of ordinary man and women in Zim transformed with sound money.

9.How many transactions are you processing per day/hor/minute?

Our numbers stand at under 160 000 registered users. We also hit 145 000 transactions and 36 000 blockchain addresses. Information which is publicly available on Tron network. Here is the link

10.What is your daily, monthly active users?

Our numbers stand at under 160 000 registered users. We also hit 145 000 transactions and 36 000 blockchain addresses. Information which is publicly available on Tron network. Here is the link

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_Went looking for a sign but instead i got a message_