Note from the CEO: FintekNews just doesn’t know where to go with this. Its real news BUT it certainly has some irony and humor to it, hence we’re filing it under our “Fintech Humor” section, typically reserved for our (wholly fictional) tales. Zimbabwe finds bitcoin “risky”????? Unlike their 100 TRILLION dollar note??? Perhaps our offer to buy all of Zimbabwe for 20 bitcoins is way too risky.
“Various banks around the world have issued warnings about cryptocurrency in the past. When the central bank of the Zimbabwe starts warning about Bitcoin, smart people will know something is up. Then again, the Reserve Bank of Zimbabwe doesn’t have the most stellar of reputations either when it comes to the financial sector.
The primary selling point of Bitcoin is how it connects people to the financial system. Particularly the unbanked and underbanked regions of the world are in dire need of such services. Since banks will not make a profit from serving customers there, a void has been established which needs to be filled.
Bitcoin presents an excellent solution in this regard. Users of the cryptocurrency can send global money transfers in seconds. They can do so at a fraction of the costs associated with traditional solutions. More importantly, there is no third party involved to seize funds and delay the transfer by days or even weeks.”