Citizens have expressed satisfaction on the introduction of the digital gold tokens highlighting that the move was noble as it allows those holding small amounts of local currency to exchange it with tokens in order to store value.
Speaking to this publication today, one vendor, Chenai Shambare who sells her vegetables in the capital, expressed her gratification over the introduction of the digital gold tokens. She stated that this showed Government`s commitment in leaving no one and no place behind as it makes strides to ensure that everyone enjoys the fruits of the Second Republic’s economic successes.
“The Second Republic is indeed the Government of the people, which serves the people. Everyone will soon enjoy a piece of the national cake. This is being witnessed by the Government`s introduction of digital gold tokens to accommodate some of us who are low income earners.
“We are now able to exchange our few dollars with tokens in order to store value. This entails that my money stored in the form of gold tokens will maintain its value up until the day I will think of disposing it. We really thank our Government for this initiative,” said Shambare.
An economist from a local university who preferred anonymity applauded this positive development illustrating that gold has always been treated as a store of value since time immemorial.
“This move by the Central Bank will see more investors trickling in the country. We all know that gold is seen by many as a precious store of value. As economists, we are now confident that by 2030, a lot of companies would have jetted in and one can deduce that Vision 2030 is indeed achievable,” said the economist.
The introduction of the digital gold tokens, a form of electronic money backed by gold held at the Reserve Bank of Zimbabwe (RBZ), would represent the first strides by the central bank towards using the country`s gold reserves to secure the Zimbabwe dollar’s value.
Monetary authorities envisage that the digital gold tokens will allow those holding small amounts of Zimbabwe dollars to exchange their money for tokens in order to store value and hedge against exchange rate instability.