Crypto-currencies are propagated for a long time and used as a means to escape the difficulties of abusive, inflationary financial regime. Now the bold is being promoted to bring the entire population of Zimbabwe with the Dai economically from the prison.
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DAI as a rescue?
The use of Bitcoin has increased in Zimbabwe in the last year, since the government is applying increasingly repressive laws on the citizens to support the failing economic system. A prohibition of foreign currency transactions made using local bitcoins increased by leaps and bounds, which has led to high premium on the BTC price in the Region.
The US Dollar to be traded is still on the black market, however, this does not lead to a strong dependence of cash, as digital methods of payment are accessible. For digital payments, the citizens of the local, mobile phone-based payment services. These were banned in October, but after a public Outcry re-introduced.
However, all payments in local currency, affected by the rising Inflation, and the Bitcoin volatility makes it a non-ideal Alternative.
A good day… to work hard
Team Toast, a developer of decentralized, censorship-resistant, Fiat-to-crypto-Gateways DAIHard, has now submitted a Plan for the entire Nation. A kind of “white paper for an economic breakout”, if you will, the was published as “The ZimDai white paper”.
With the Dai Stablecoin, DAIHard and Up as the main instruments, it tries to challenges such as user training and user-friendliness, state, Opposition, gaps and to overcome government-controlled Internet connections, and financing issues.
In essence, the plans revolve around the recruitment of a network of ZimDai agents. Agent can initially be in any of the crypto-currency/Dai-uses services to other Bank-like services.
To the services, among other things, Transfers between cities, international Dai-Transfers for Transfers from abroad, the access to South African Bank accounts, or simply, the training on setting up and using the stable crypto-currency, Dai belong. The agent may require a small Fee for these services, users would avoid the enormous fees of banks and other financial institutions but still.
Crypto for the benefit of all
The project is currently examining a possible Token Sale, in order to procure money from the crypto currency Community, the Plan and begin the recruitment of agents.
Of course, there are a lot of work to do. However, it is nice to see at Christmas is a project, the crypto for the sake of others and not Profit from is. This was not a big part of the whole idea?