Zimbabwean Central Bank Launches CBDC Consumer Survey

Zimbabwean Central Bank Launches CBDC Consumer Survey

The Zimbabwean central bank has said it is “conducting a CBDC [central bank digital currency] Consumer Survey to solicit opinions on the design and nature of the CBDC and its overall acceptance by the public.” The bank said the information obtained via this process will be “treated with the utmost confidentiality and the results will only be used for purposes of research on the design.” Assessing the ‘Acceptability of a CBDC in Zimbabwe’

The Reserve Bank of Zimbabwe (RBZ) has said residents can now share their views and thoughts concerning “the design and nature of the CBDC [central bank digital currency].” According to the bank’s Nov. 9 tweet, which links to the survey form, Zimbabwean residents need to complete the exercise on or before Dec. 7, 2022.

The commencement of the consumer survey comes just a few months after the RBZ said it would unveil a document that would kickstart a public consultation process. As reported by Bitcoin.com News in mid-August, the Zimbabwean central bank believes the involvement of residents and other stakeholders helps to foster “a broad and transparent public dialogue regarding the potential benefits and risks of CBDC.”

However, in its note to prospective survey participants, the RBZ seemingly attempts to reassure residents who may be skeptical about taking part in the study. The RBZ said: Please note that the information you are going to provide will be treated with the utmost confidentiality and the results will only be used for purposes of research on the design, nature and acceptability of CBDC in Zimbabwe.

In some of the survey questions, participants are asked to explain the differences between a CBDC and the regular Zimbabwe dollar. Participants are also asked to rate their chances of using digital currencies or to state why they are willing or unwilling to use the digital Zimbabwe dollar.

In addition to asking participants to rate the importance of several features like privacy, transparency, and transaction speed, the RBZ also wants them to pick between the CBDC and cryptocurrency.

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Tags in this story CBDC, central bank digital currency, Cryptocurrency, rbz, Reserve Bank of Zimbabwe, zim dollar

What are your thoughts on this story? Let us know what you think in the comments section below. Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route. Nigerian Currency Gains Versus US Dollar Days After Tapping All-Time Low AFRICA | 22 hours ago Report: Zimbabwe Proceeding With Digital Currency Plans, Central Bank Undeterred By Slow Adoption of Nigerian CBDC AFRICA | Nov 3, 2022

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