The government of Zansibar wants to obtain the opinion of the interest groups into cryptocurrencies - emerging countries
The government of Zansibar wants to obtain the opinion of the interest groups into cryptocurrencies - emerging countries
Zanzibar is interested in experiencing the views of the interest groups to realize the introduction of digital currencies before a final decision is made, said a government minister.
how important it is to catch up with the views of stakeholders
In his explanations during a Interview Soraga, the Minister of State, is known that his government is planning to meet with interest representatives in the third week of November. Soraga also explained why such a meeting is necessary. He said:
We get opinions on this topic before we decide whether it is sustainable or not. You cannot make such a decision without receiving the input of interest groups, including banks and finance and foreign ministries.
According to The Citizen report, Soraga has already met with Joe Chuene, a representative of Hypertech, and discussed how the island state can best introduce cryptocurrencies.
The report also quotes Haji Semboja, a professor at the economic department of the State University of Zansibar, who supports the government's decision to first include interest groups. However, Semboja warned that the government of Zanzibar, since finance is a matter of the Union, is obliged to get in touch with the Tanzanian government through the Bank of Tanzania.
This agreement will develop the two governments guidelines that explain the goals of the digital currency, how it works and their advantages, the report.
definition of the cryptocurrency key
In the meantime, Sandra Chogo, a cryptocurrency expert and author of the book entitled Jielimish Kuhusu Blockchain, is quoted in the report, which first emphasizes the importance of defining or clarifying the status of cryptocurrencies. Only when this has happened will the government be able to issue regulations and determine which authority should regulate cryptocurrencies.While many of the experts cited in the report seemed to support the tendency of the Zanzibar government on cryptocurrencies, an unangerable economist had a different opinion. According to this economist, cryptocurrencies must be accepted by central banks worldwide if they are to become efficient and effective exchange.
"currencies are stable worldwide because they are supported by the central banks by a strong monetary policy," said the economist.
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