Following the call by Tanzanian President Samia Suluhu Hassan for measures to be taken on cryptocurrency, a government minister has now announced that it will set up a crypto advisory team. According to the Minister for Information and Communication Technology (ICT), Faustine Ndugulile, this team will consist of no more than 10 experts.
The advisory team is to be set up in 14 days
In addition, as a media company reported on July 9, the Tanzanian ICT Commission has 14 days to set up this team. This team is expected to “advise the government on policies, legislation and guidelines to enable effective use of the technology”. This announcement by the minister is the latest reaction from the Tanzanian authorities to President Hassan’s call for forward-looking steps on crypto.
As previously reported by Bitcoin.com News, Hassan asked the country’s central banks to prepare for cryptocurrencies. The country’s central bank has already confirmed that it is “working on the given directive”.
However, Ndugulile, aware of the benefits of the technology, argues that this needs to be well understood before launch. Therefore, in addition to its advisory role, the Task Force will be responsible for “raising awareness of government institutions involved in the system, ministers and permanent secretaries”. Ndugulile added that while he agrees with the idea of ”making Kigamboni a smart city to test the use of technology,” he is still in favor of prioritizing public awareness.
Support for Tanzania’s pivot to blockchain and crypto
The same media report, meanwhile, also quotes Sandra Chogo, an expert on commerce and blockchain, and explains the importance of making young people in college aware of this technology. She said:
The fourth industrial revolution is picking up speed and new technologies are emerging every day.
Another expert, Joseph Matiko, suggested that “it was good for the government to raise funds for model projects.” Matiko also points to another important use case of blockchain technology, the storage of documents. He noticed:
“The blockchain can be a great tool for storing government information and even preparing important documents like citizenship cards, birth certificates, passports and even tax identification numbers.”
Do you agree with Tanzania’s approach to appointing an advisory team to lead its cryptocurrency adoption efforts? Let us know what you think in the comments section below.
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