Mozambique economy, COVID-19, Trading and Bitcoin Cash

In the latest report by World Bank in relation to the economy of Mozambique, it can be noted that the institution is confident of a recovery only starting in 2022, that same economic recovery will only reach a mere 4% after the country has been affected by Hidden Debts contracted. without the endorsement of the Assembly of the Republic (which was a scandal with international repercussions), cyclones that affected and continue to affect the country, and now also for a year facing the catastrophic effects of COVID-19.

All of these calamities together affected the Mozambican economy so strongly that the country plunged into a very bad financial crisis and led many young people to unemployment, to a terrible standard of living, raising the informal sector as the most competitive in the search for better living conditions. This rise in trade and business as a dominant part of the Mozambican financial sector has come to testify that in Africa this sector will have a lot of influence on the economy of the continent and of countries in particular.

Increasing the informal sector has also allowed citizens of many African countries, who are major sellers of staple foods like rice, oil, sugar and more in their stores (often made from containers) to increase their participation in the Mozambican financial market by paying imposed on the state. Not only are African traders in the informal sector but also people from Asia such as India (which has a long history with Mozambique for many years with many nationalized Mozambicans) and China which started its expansion in the African continent a few years ago but with great weight throughout Africa, they came to Mozambique and established businesses, many of whom also reside in the country bringing with them manners and customs that on the part help Africans to understand how the outside world works.

This imigration has greatly affected globalization and can also influence the development of cryptocurrencies in many African countries and in particular in Mozambique, since these traders who work and reside in Mozambique have left families in their countries and the way to send value is using cryptocurrencies. Many merchants also use cryptocurrencies to pay for their products purchased abroad and negotiate directly with their supplier paying for the merchandise first hand, avoiding scams by third parties who previously had to participate in the negotiation and sell dollars that would consequently have to be sent to the supplier increasing the waiting level and with a security in the transaction is also not very good.

Using cryptocurrencies the whole thing changes and the security in the transaction is very good, the flexibility is also guaranteed and the payment is made in the blink of an eye. All of these approaches to immigrant involvement in the Mozambican economy have not diminished or brought something beneficial to Mozambicans who have lost their jobs, most influenced their reduction as many of these new entrepreneurs have been hiring Mozambican labor, however the standard of living remains extremely high. high caused by the constant pandemics (COVID-19) that came once again to plague the free market and with the constant demands to reduce the level of infection, they once again led the country to see its population suffering in loco.

These lockdowns and quarantines are putting the country with an inflated currency, the currency practically does not work, often leading the population to despair. In other words, as much as there is value in your pocket, it cannot support the Mozambican home because everything is expensive and the currency has lost its trading value and with the advancement of COVID-19 this only tends to get worse ...

What to do when the currency no longer has a trading value

As I mentioned above when talking about foreign traders working in Mozambique, the best way to have safe money is using cryptocurrencies, but not any more but one that can serve as a bargaining chip, protect against inflation and can also be used as a reserve of value giving the bearer the same financial security and mobility to use when and how they wish, and this digital currency can only be Bitcoin Cash. Bitcoin Cash is the best option for protection against inflation, the currency has a total of twenty one million coins as a maximum circulation limit and over the years it values, differently from the government money that can be issued at any time increased the market flow and reducing purchasing power.

It is also an effective means of exchange, being digital and decentralized it can be moved at incredible speeds with almost instant confirmation very secure and all transactions registered on the blockchain, increasing the level of trust between parts and can be verified by anyone in the world since the system uses open source.

But does everyone have this knowledge

Well, this is the part that requires more work in the promotion and promotion of the product on the continent and in Mozambique in particular, Bitcoin Cash is the best choice of digital decentralized electronic money the fiat currency will become obsolete in a few years and people will use it but the digital world but not everyone has this kind of worse access in Africa where the system is still very deficient, where governments control everything with an iron fist, but with a rampant rise of new young entrepreneurs I believe that Bitcoin Cash has a future in Mozambique. Many young people are open to new forms of business and many of them travel abroad where they go to get the raw materials of their business and in this exchange they learn to use Bitcoin Cash to make payments for goods and services and the demand is increasing as it no longer there is so much need to look for dollars in the square, the phone in hand and the installed Bitcoin Cash wallet is everything to be able to move business safely and effectively.

Mozambique is growing and in the same proportion, or even faster, the use and demand of Bitcoin Cash also acquiring an extremely important weight in the country's young population and this is very good for the financial empowerment of this layer so marginalized by the government, opening a new era in the digital economy in the country, the era of peer-to-peer electronic cash payments...