On Wednesday, the head of the reserve Bank of Zimbabwe (RBZ) John Mangudya (John Mangudya) attended the Alpha Media Holdings Banks and Banking in Harare and made a number of statements about the technology of blockchain and cryptocurrency, which indicate insufficient knowledge of the issue.
The country’s Central Bank, recently banned financial institutions from working with cryptocurrency companies, now intends to study the technology of the blockchain and the possibility of its application in public administration.
Mangudya said that the technology of the blockchain is «global emerging innovation», and also noted that the RBZ is ready to accept this technology into service following the example of Central banks of other countries.
«We can no longer ignore this new phenomenon. However, we should clarify that we are talking about the study of the technology of the blockchain, cryptocurrencies and not as the technology of the distributed registry is above them,» explained Mangudya.
Further Mangudya still touched on the issue of cryptocurrencies, but has demonstrated complete incompetence in this matter:
«We are against those things, which are not amenable to regulation. So first we want to understand where bitcoins come from and who produces them. Cryptocurrency is as mobile money, because you need a wallet where you store them. But what or who is their source? How did they get there?».
Comments Mangudi represent another example of how cryptocurrency victims of arbitrary measures imposed by politicians and regulators who are not fully qualified. The decision of the Central Bank in Harare had serious consequences for the nascent cryptocore Zimbabwe, which offered a way out of some financial problems.
In June because of pressure from RBZ cryptocurrency exchange Golix decided to move outside Zimbabwe and there is already information that the exchange is in three other African countries to stay afloat.