Zimbabwe May Be Inching Closer To Creating a CBDC As RBZ Launches Consumer Survey

The Reserve Bank of Zimbabwe has launched a survey to get public input on the proposal for the creation of a Central Bank Digital Currency (CBDC).

The RBZ in a tweet on Thursday called for reviews by the public on its plans to explore a digital currency.

“As part of efforts to explore Central Bank Digital Currency (CBDC), the Bank is conducting a Consumer Survey on CBDC. Your response is important. Follow this link to complete the survey https://t.co/V47cxv4FHc Kindly respond by 7 December 2022.” the tweet read.

Recall that last week, the deputy director for economic research at the RBZ, Nebson Mupunga disclosed plans to explore the CBDC.

Mupunga who was speaking during the CEO Africa Roundtable annual conference in Victoria Falls said that the survey was to gauge market sentiment and awareness of digital currencies after Cabinet gave them the nod to explore ways to introduce CBDC in Zimbabwe.

“The Cabinet has approved that the bank explores the possibility of introducing a CBDC in the economy,”

“We are going to survey to gauge consumer awareness and readiness to adopt the CBDC. This is what we are doing in the bank in terms of the digitization agenda on the monetary front,” he said.

A look at the survey reveals that the RBZ promises confidentiality of responses given by people.

“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.” the RBZ said in a note.

The survey also asked participants to explain the differences between a CBDC and the Zimbabwe dollar.

Other questions asked include the willingness to use digital currencies or otherwise, gauging the importance of features such as privacy, transparency, and transaction speed.