Zimbocash is a payments wallet, primarily for Zimbabweans, that uses a decentralized currency called ZASH. ZASH works like the currency system and has a fixed supply. ZASH is a currency system based on blockchain technology. 4.5 billion ZASH tokens have been created and allocated to Zimbabweans.

The printing of currency has been the cause of shortages of fuel and essential commodities in Zimbabwe. The creation of currency on a grand scale robs ordinary people of value and undermines the productive capacity of a country. Zimbabwe has been experiencing a second significant inflation period with Zimbabwe dollars. Moreover, established cryptocurrencies such as Bitcoin and Ethereum have limited access in Zimbabwean markets. Thus, people and businesses face extreme difficulties making international payments.

While Bitcoin is a global reserve sound-currency system, it still struggles to replace the traditional currency. Thus, ZASH comes into the picture. ZASH tokens seek to keep the benefits of Bitcoin and limit the weaknesses. ZASH is a decentralized currency that people can use in day-to-day trade. The value of ZASH seeks to increase as the network expands and more people join in to use ZASH as the medium of exchange. Each Zimbabwean who joins the system aims to get 400 ZASH allocated until the total available supply is allocated. Additionally, there aims to be a referral incentive of 10% for each active referral one makes into the system.

ZASH has a ZIMBOCASH development program, developing the top candidates as ambassadors for the movement. One needs to have received at least ten First Payment Rewards to apply for the ambassador’s position, which can even be small amounts paid to friends who have been already verified. The long-term aim of Zimbocash (ZASH) is to become a tradeable currency first in Zimbabwe and then in the rest of the world.

Philip Haslam is the cofounder and spokesperson of Zimbocash. Haslam is an economist from South Africa who was inclined by decentralized currencies and believed that they could solve Zimbabwe’s current challenges.