Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
In a follow-up to Tanzanian President Samia Suluhu Hassanâs call for cryptocurrency action, a government minister has now announced plans to set up a crypto advisory team. This team, according to the Information and Communication Technology (ICT) minister Faustine Ndugulile, will consist of not more than 10 experts.
Advisory Team to Be Set Up in 14 Days
In addition, as one media outlet reported on July 9, the Tanzanian ICT Commission has been given 14 days to set up this team. This team is expected to âadvise the government on policy, legislation and guidelines to enable the technology to be used effectively.â This announcement by the minister is the latest response by Tanzanian authorities to President Hassanâs call for forward-thinking steps regarding crypto.
As previously reported by Bitcoin.com News, Hassan asked the countryâs central banks to prepare for cryptocurrencies. Already, the countryâs central bank has confirmed it is âworking on the directive given.â
However, Ndugulile, who says he is cognizant of the technologyâs benefits, argues that this needs to be well understood before its adoption. Therefore, on top of its advisory role, the task force will be responsible for âproviding awareness to government institutions that will be involved in the system, ministers and permanent secretaries.â Ndugulile added that while he agrees with the idea of âmaking Kigamboni a smart city for testing the use of the technology,â he still favors prioritizing public awareness.
Support for Tanzaniaâs Pivot to Blockchain and Crypto
Meanwhile, the same media report also quotes Sandra Chogo, an expert in trade and blockchain, explaining the importance of raising awareness about this technology among young people in college. She said:
The fourth industrial revolution is gaining momentum and every day, new technologies are emerging.
Another expert, Joseph Matiko, suggested that âit was good for the government to allocate funds for model projects.â Matiko also makes reference to another important use case of blockchain technology, the storage of documents. He noted:
âThe blockchain can be a great tool for storing government information and even the preparation of important documents such as citizenship IDs, birth certificates, passports and even Taxpayersâ Identification Numbers.â
Do you agree with Tanzaniaâs approach of appointing an advisory team to guide its crypto adoption drive? Tell us what you think in the comments section below.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.