Cryptocurrencies, blockchain technology, ...

Crypto Keeps Going Mainstream! Tanzania

(update 2021-09-19)

Cryptocurrencies continue to enter mainstream finance. More and more companies, organizations and countries are joining the use of blockchain technology, smart contracts and cryptocurrency as one of the payment methods.


The Guardian 2021-06-14 Monday

The 6th President of Tanzania, Hon. Samia Suluhu Hassan sees crypto trend. In Tanzania, women are respected as mothers and this is expressed with prefix “Mama”, especially in the colloquial speech, to women who matter in our life.

Mama Samia: Ready for new digital money, online business shift

Monday’s The Guardian is in my hands and a portrait of the Hon. President is above my head.

President Samia Suluhu Hassan has directed the Bank of Tanzania (BoT) to prepare for cryptocurrencies, lest Tanzania lag behind as the rest of world embraces new technology.

Opening the BoT 42bn/- zonal branch in Mwanza City, the President said it is prudent to prepare for virtual currencies than being caught unprepared with the technology that is becoming the new normal in global financial markets.

Experts say that cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology, described as a distributed ledger enforced by a disparate network of computers.

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