A new thread on central bank digital currencies commonly referred to as CBDCs and apologies for some typos in the long thread on cryptocurrencies. Twitter doesn’t allow editing so I have to fall on my sword🤦‍♂️.
CBDCs are an innovation spinning out from the technology which cryptocurrencies are based. If anything, it has not been all about speculation as some useful technology has emerged out of this mania. The Bahamas became the first country to roll out a CBDC
A CBDC is simply a tokenised representation of fiat issued on a blockchain. This innovation presents an opportunity for central banks to have real-time tools and analytics on currency distribution and potential issues. South Africa’s Central bank has already done a pilot CBDC
The key advantage of CBDCs is that they can take away the cost for printing physical money and replacing it upon damage. It can also do away with the need for coins. CBDCs are just as good as the fiat money they are pegged to unless they are to be backed by a commodity
In our Zimbabwean economy, backing money with assets could offer a more stable currency. Most people don’t realise that fiat currencies are no longer backed by anything but simply trust.
This is the reason why companies in US are buying bitcoin as 20% of all USD in circulation was introduced in 2020 following the pandemic. Do companies holding a lot of cash in treasury, it means their money is losing value. The US Fed is currently pursuing a 2% inflation target
Gvts are simply printing money and all that is backing it is the printer.
I have pondered upon the benefits of a CBDC in Zimbabwe’s economy issued on a public blockchain and for those interested you can have a read. 👇🏿 link.medium.com/6OPzV3gd5db

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More from @mentorshipzim

23 Feb
Now to this last thread:

We are going to be very basic for the benefit of everyone so those in the know bear with me. What we are going to talk about is what is involved for one to buy/invest in shares/stock/equities/portion/part ownership of a company on a Stock Exchange.
What is a Stock Exchange?
It's a market created so that companies can raise money in a regulated manner. If Twitter wants money to expand it can raise it on a Stock Exchange (ZSE from now). But its owners will have to give up a portion/stock in exchange for cash.
What is a stock?
Stocks, also known as shares are issued by companies listed on ZSE. The 1st time Twitter use shares to raise capital it’s called Initial Public Offering (IPO). The 2nd would be a RIGHTS OFFER. Of their 100% ownership eg 100 shares, they might sell 30 to public.
Read 26 tweets
23 Feb
When I was at Lynton-Edwards Stockbrokers, we did a little digging of how the Stock Exchange started in Zimbabwe.

Not a surprise who started the @ZSE back in Rhodesia

Below are the founding members of the Rhodesia Stock Exchange in 1946 Image
Upon the colonisation of the country in the 1890’s, the first stockbroker set up a broking firm in 1891 to act as an intermediary between settlers & the JSE & LSE. 4 Stock Exchanges were then established in Salisbury, Bulawayo, Gwelo (Gweru) and Umtali (Mutare) from 1894 – 1898. The Bulawayo Stock Exchange...
The first of which was the Salisbury Stock Exchange which was opened on the 20th of June 1894. It had 33 members and 18 listed companies. There was massive interest in British and South African mining companies in the country and they needed to raise capital for development. Image
Read 80 tweets
23 Feb
Good morning all. Someone once said early birds catch the worm! So we start early. Our day will be like this.

We start on a historical note about how Stock Markets started. We then look at my career path & investment journey. And last how you can start yours
Its an honour to be on this platform to talk about a subject that most pple on Twitter know me for. To those not in the know, my Twitter handle @kudzie_sharara probably talks more about the subject of the day than any other subject. I am talking about the Stock Market @ZSE_ZW
The idea of trading goods dates back to the earliest civilizations. Early businesses would combine their funds to take ships across the sea to other countries. These transactions were either implemented by trading groups or individuals for thousands of years.
Read 15 tweets
22 Feb
This will probably be the last thread and it is aimed at innovators and startups in Fintech sector. I have been engaged with various regulators especially @ReserveBankZIM on allowing crypto startups to take part in the token economy under supervision by authorities.
New York City (US) has been awarding what is called a Bitlicense to fintechs innovating in crypto which is a way of keeping a tab on what they are doing and protecting the public. RBZ announced a Fintech Regulatory Sandbox Framework.
From my engagement with @ReserveBankZIM this will permit crypto startups to make an application which the regulator can then assess and waiver or relax rules which otherwise would stop testing on live markets. I would say this is the most progressive approach a regulator can take
Read 14 tweets
22 Feb
Now I am doing a thread for lawyers and why it is important to keep up with what is going on in the cryptocurrencies space. Cryptocurrencies have become the new front for economic rights and freedoms. time.com/5486673/bitcoi…
But importantly, there is a good chance that you will either prosecute or defend a client accused of crypto crimes. If in the corporate world, you could have a client who wants to launch a crypto or blockchain project. The worst thing would be to have no idea of the issues
This article I wrote was targeted at lawyers and it raises key areas where cryptocurrencies can interact with the legal profession. It could be administering an estate for the dead, divorce proceedings e.t.c uclanlaw.wordpress.com/2018/06/01/deb…
Read 7 tweets
22 Feb
It’s my pleasure to share with you all on this platform. I think this is a good way of knowledge exchange. I have always had a passion for law and administration whilst growing up and I am not one of those born with a silver spoon. I grew up in the ghetto.
I did my A’s and got 11 pts which meant I couldn’t make it to UZ as it was the only main law school at the time. I instead studied Software Engineering at UZ (Ansted School of Technology) which I ended mid-way and moved to UK. The UK has a split legal profession.
Barristers and solicitors. Solicitors have limited rights of audience whereas barristers can appear in any court and they mainly work as self employed whereas the bulk of solicitors tend to work for law firms. Qualifying through any of the two routes is quite difficult.
Read 59 tweets

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