If you are Zimbabwean, sign up here.

We’re a broader community of people in Zimbabwe and around the world who have a passion for the country and for reliable money and banking. ZiTenga isn’t a corporation and neither is it one person. Rather, it is a collective of volunteers who have a vision for this simple idea – Zimbabwe is one of the few countries in the world where a decentralised fixed currency and banking system could be implemented by people living on the ground. You can read more about this on our first Fireside Chat letter:

https://www.zitengacom/2018/11/12/firesidechat1/

No, this is not a pyramid scheme. No one’s earnings are based on what others pay. ZASH is given to everyone for free on sign up, or purchased on the ZiTenga site; only those who refer others are allocated more.

1. Decentralised blockchain to create sound money
   Our goal is to first establish a token that uses blockchain technology to fix the money supply. We want to ensure that nobody – not even us – can change the supply of money as has been created on the blockchain or take people’s money without them providing their private keys to authorise a transaction.

Our current project uses the TRON.Network ecosystem to fix the money supply. The system uses a delegated Proof-of-Stake (“DPOS”) consensus mechanism to ensure that no centralised party has the ability to change the money supply.

2. Decentralise the value creation process
   We believe that the value for everyone is in us, together, developing a network of people all using ZASH. Each additional person who joins the network adds value to everyone else in the network; that means that each participant is responsible for building the community.

What this ultimately means is that when you hold ZASH, you can encourage people to sell their goods to you denominated in ZASH. Encourage people to create accounts and validate themselves on the network. This viral process – a decentralised community – is what will grow the network.

However, relative to the size of the network, the first few participants add the most in terms of building the movement and should be rewarded appropriately.

Accordingly, our entire token distribution model is centred around creating value in the hands of our participants and rewarding those who join early or who build the network with more tokens.

3. Decentralised team
   All crypto projects start off centralised and can only become decentralised as the network grows.

However, we are not crypto anarchists. We want to walk the fine line between engaging with authorities, building a team, and working with decentralised technologies. We try as best as we can to push down the responsibilities of our community to local ambassadors.

Zimbabwe is one of only a few countries that could implement a decentralised currency system on the ground. With the weaknesses in the money and banking system in the past 20 years, people within the country are desperate for a reliable payments solution.

Private keys give you control over what you do with your funds.

• With ZiTenga, you have two options to access ZASH:
  • You can choose to buy ZASH on the exchange; or
  • Signup on our system and get ZASH for free.

  1) Buy ZASH on the exchange

  If you buy ZASH from the exchange, you can create a separate wallet where you hold the private key and transfer your ZASH to that wallet.  You can also keep your ZASH on the exchange if you prefer, or convert to BTC or USDT.

  We do not control these exchanges, nor do we have any input with their management, so we recommend that you don't keep your ZASH on an exchange wallet.

  2) Receive your free ZASH allocation by signing up at ZiTenga

  For users who sign up with ZiTenga and receive a free allocation, the private keys of the wallets are kept securely within the ZiTenga system. This means you do not have access to these private keys.

  People receive ZASH for free by virtue of being verified Zimbabweans. Each person has the ability to pay others on the system.

  Some people may wish to transfer their ZASH to the exchange; however, this is not how our model works. Airdrops of this nature have been done in the past where users who receive their tokens for free go and dump on the exchange, crashing the price and cancelling the project.

  The model works by enabling people to extract the value of their ZASH by transacting with others in a peer-to-peer network. An allocated amount of ZASH is free for people to acquire when they sign up, but they can only use that value in transactions in day-to-day trade.

   

  Exchange liquidity

  Critical to this model is an understanding of exchange liquidity. We need to ensure that there is sufficient liquidity on the exchange before opening up the doors to appropriate users.

  At ZiTenga, our job is not to give people US dollars, but to give people a sound-money token that can be used in a ZASH network. We want to see people pay for goods and services on the ground without the need to cash out to USD or ZWL. The growth in the size and quality of our network will see us achieve this objective.

  As the payments network grows, we believe that this will attract exchange liquidity.

  Our goal is to eventually allow people to transfer ZASH off the ZiTenga wallet and onto other wallets such as the exchange wallet. However, this needs to be done slowly over time and only on the basis of a large ZASH payments network.