The Guardian 2021-06-14 Monday www.ippmedia.com
The 6th President of Tanzania, Hon. Samia Suluhu Hassan:
Samia: Ready for new digital money, online business shift
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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