A Tanzanian govt minister has also announced to set their crypto advisory team, sources say. The minister announced this after Tanzanian President, Sami Suluhu Hassan’s call for cryptocurrency action.
The popularity of using crypto is increasing in continents like Africa and Latin America that have been meeting different kinds of economic hardships. Whereas, in developed and progressed countries we see the government authorities and financial institutions vowing to control crypto.
Faustine Ndugulile, the ICT (Information and Communication Technology) minister said that this team will have around ten experts.
One of the local media outlets named “The Citizen” reported on July 9th. According to that, the ICT commission of Tanzania has received fourteen days to establish this team. This team will advise the government on legislation, guidelines, and policy to allow the effective use of technology.
The minister’s announcement is the newest response to the President’s call for taking forward-thinking measures and steps towards crypto.
Previously, President Hassan had asked the country’s central banks to prepare for cryptocurrency. It was reported on bitcoin.com news. As per Tanzania’s central bank’s confirmation in Jun they stated that they’re working on the given instructions already.
The ICT minister, Faustine Ndugulile however, is very mindful of crypto technology’s benefits. Therefore, he urges that this technology needs to be well understood before its adoption and implementation. Hence, the task force will be responsible for giving knowledge to government institutions, involved in the system, permanent secretaries, and ministers, on top of their advisory roles. Ndugulile still favors prioritizing public awareness although he completely agrees with making Kigamboni a smart city for testing the use of technology.
In the meantime, the same media outlet has also cited an expert in blockchain and trade named Sandra Chogo. Who explained the significance of spreading awareness about this technology among youngsters in College. She stated:
“Fourth industrial revolution is developing impulse and new technologies are surfacing every day.”
Joseph Matiko who is another expert also stated that ” it was good for the government to allocate funds for model projects.” Mr. Matiko also suggested another significant use of blockchain technology which is storing documents. Blockchain technology can undoubtedly serve as a great tool. It can be used for many purposes like developing important documents like birth certificates, Taxpayer ID numbers, citizenship IDs, passports, and storing government information.
After El Salvador announced the legalization of Bitcoin, the Tanzanian President did a speech pointing out that cryptocurrencies are inevitable. Crypto was well received in Tanzanian circles. Another African country Ghana also announced its jump in the crypto race. That shows that collectively African countries are seriously thinking about adopting crypto, and gradually preparing themselves for challenges to