Decentralized finance, or DeFi, is slowly making an impact globally. One of the regions currently of interest is Zimbabwe, at least where the Ethereum community is concerned.
A new Reddit post shows how the community is looking to bring DeFi to Zimbabwe fairly soon.
DAI Offers Hope for Zimbabwe
A new whitepaper has been provided that aims to highlight what this initiative is all about.
Zimbabwe is one of the many countries where financial hardship has become the new normal in recent decades.
Extreme inflation has crippled the domestic economy and continues to wreak havoc every single day.
To make things worse, Zimbabwe is home to a plethora of banking restrictions, which hinders financial inclusion.
It has proven very difficult, if not impossible, for individuals or small projects to make much of an impact in this country.
Cryptocurrencies and digital assets can make a big impact, assuming they are given a fighting chance.
How ZimDai will fare in this regard, has yet to be determined.
Through the Dai stablecoin, a stable economy can be provided to Zimbabwe.
This is another example of how popular this stablecoin has become in recent months, and the potential it carries.
The overall response by community members appears to be relatively positive.
For now, the project is in the early stages, but more information will be made public in the months to come.