Odaily Planet Daily News The Reserve Bank of Zimbabwe (RBZ) stated that the upcoming launch of GBDT (gold-backed digital tokens) "for transaction purposes" is currently "at an advanced stage of preparation." The central bank said the launch of GBDT would "complement the U.S. dollar in domestic transactions, as retailers will provide a safer, more convenient, and more valuable medium of exchange".
In the recently released Medium-Term Monetary Policy Statement, RBZ Governor John Mangudya revealed that the central bank will soon launch a campaign with the goal of “educating the public on the use and benefits of GBDT.” Mangudya also revealed that key stakeholders such as the Confederation of Zimbabwean Industries (CZI) have committed to configuring their systems to allow the issuance of GBDT-denominated cards.
The RBZ launched a gold-backed digital token in May in response to local demand for dollars. A few months after its launch, Mangudya said: "GBDT has proven to be an effective monetary policy tool with strong potential to help domestic financial and capital markets return to normal in the short term." The "divisibility" of the means that people from all economic backgrounds can access or obtain them. (Bitcoin.com)
Earlier in July, the Central Bank of Zimbabwe was said to have started a "trial run" to test the feasibility of issuing a gold-backed digital currency that would be used as a means of payment. The digital currency, which will be accepted as legal tender for peer-to-peer transactions, is part of a series of measures by the Reserve Bank of Zimbabwe aimed at stabilizing the local currency.