Zimbabwe Stock Exchange has expressed interest in adopting blockchain products, according to Cointelegraph. The CEO of the exchange has come forward to admit that if there is regulatory support and approval, ZSE will most probably adopt the blockchain technology.
In particular, Mr. Bgoni, the CEO of ZSE, said that these blockchain-based services and products can be anything from real estate investment trust securities or REITS to exchange traded funds. Here is Mr. Bgoni’s comment on blockchain:
Each transaction, you can see who owns it so it is easy to audit it that is why people like it, is easy to verify it, it is transparent and takes away fraud, that part of the technology you can see everything and it makes sense, it is definitely an area that ZSE can explore.
However, as the CEO has commented, the most important aspect of adopting the blockchain technology for the Zimbabwe Stock Exchange is the regulatory approval that it needs to have. According to the local news outlet, ZSE has managed to earn the trust of various stakeholders such as the government and people of Zimbabwe. So, any “innovation” or addition of products should be supplemented with 100% regulatory clearance.
The country is currently trying to figure out its place in the cryptocurrency world and how it can benefit from blockchain while not exposing itself too much to the risks that digital coins hide.