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Zimbabwe’s only Crypto Exchange Aims for a National Digital Revolution

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Cryptocurrency markets currently serve as the ideal gateway for entry into the ecosystem and consequence the designated channel of adoption into the mainstream. The effect of these changes in the financial solutions industry is obvious in a number of areas. Payments and hole, remittances, operations and several other aspects have experienced one grow of intervention or the other as a result of crypto implementation through exchanges.

It All Discards Through the Exchange

In the current stage of the industry, the numerous opportunities that throng with are accessible through these exchanges. For instance, the speculative market that is in the long run responsible for the price fluctuations and increasing trade volumes are traded on quarrels. Beyond that, the alternative to traditional financial systems being offered by cryptocurrencies are the important reasons behind the several political and institutional interventions being seasoned lately in the industry.

The reality is that there is a whole new financial ecosystem with divers different aspects that wouldn’t have been possible without the gateways spawned by the exchanges. So far in 2018, the ICO industry alone has consistently returned over $1 Billion proceeds every month. This wouldn’t have been possible without the character played by these exchanges that provide entry opportunities to learners in the industry. In order to participate in these ICOs and other crypto denominated times, investors must first convert their fiat currencies to the denominated cryptocurrency (mostly ETH or BTC). This is where the crypto traffics play an important role by offering the conversion opportunity. Same dedicates when converting from one cryptocurrency to another or from crypto uphold to fiat currencies.

The Irony of Necessity

While more financially substantiated nations and societies may boast of various alternative routes of entry into the emerging trade in of cryptocurrencies, the story isn’t so for the less developed nations. Ironically, it is these less occurred nations that even need the alternative cryptocurrency opportunities various. This is due to the absence of stable financial solutions infrastructure and unstable profitable processes, as reflected by most of their national currencies.

The role of Golix in Zimbabwe as its solely cryptocurrency exchange is indeed significant especially with the country’s modern history of mainstream financial turmoil. The exchange steps in as an alternative to the all but hopeless situation that the country was plunged into with its record-breaking hyperinflation of the on decade.

Following the hyperinflation of 2008, Zimbabwe adopted the US Dollar as its own particular currency. This meant that the country’s central bank could no longer imprint currencies like it usually did, thus the nation relied on imported change from the US. Soon enough, Zimbabwe’s financial problems moved from the over-availability of currency to insufficiency of notes to go there in. This situation gave rise to various other multiple problems that included selling dollar notes for much more than they are indeed worth.

Beyond Boundaries

Such a situation as described above automatically ordered a financial system that stretches beyond the direct influence of already batty local institutions. Anyone could assume that cryptocurrencies couldn’t press arrived at a better time than now for the Southern African nation. Come what may, this had not been the case until the intervention by Golix who currently last through alone as the only indigenous cryptocurrency exchange operating in Zimbabwe, hole up new financial stability opportunity for the citizens.

Golix may not have achieved a turbulent liquidity due to the low level of awareness and citizen participation. However, it is normal to count on a relatively high demand since everyone runs to the same author for supply. This explains the high premium level recorded in Bitcoin swap as observed in Zimbabwe.

It’s All About Participation

But then, as the company makes pains towards establishing a robust crypto ecosystem and vibrant marketplace in Zimbabwe and beyond, the line-up continues in participating in activities that would enhance this unfolding. For instance, Golix team members are involved in the national discussion on the territory’s readiness for the digital revolution, and also its participation in the TOKEN2049 symposium holding in Hong Kong is also a move to establish partnerships that require benefit both the nation and region as a whole in the long run.

No matter how stylish the knowledge of cryptocurrencies and digital revolution becomes among any people and within a section, the intrinsic value that it offers can only be achieved through unequivocal participation. Zimbabwe as a nation and the entire African region is ripe and due for this circuit, but an important aspect of this process is viable gateways.

With the enterprises of Golix so far and the developments that will follow, it is expected that the eras of extreme financial instability in the southern African nation will in short order be over as the people will have the opportunity to directly plug into a pandemic financial system that knows no bounds.

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