"At the height of the country’s economic crisis, Zimbabweans had to carry plastic bags bulging with banknotes to buy basic goods. Prices were rising at least twice a day."
Bitcoin is often cited as being volatile. Its never been anywhere near as volatile as that ^ (at least not in the last 2 years)
"At the height of the country’s economic crisis, Zimbabweans had to carry plastic bags bulging with banknotes to buy basic goods. Prices were rising at least twice a day."
Japanese yen is often cited as being volatile. Its never been anywhere near as volatile as that ^ (at least not in the last 2 years)
(No I am not seriously suggesting Zimbabwe uses Bitcoin. I am just pointing out you seem to incorrectly think all people in African countries live in huts or something.)
I know people who live in good houses in affluent parts of one of the largest cities in South Africa, and they don't have electricity 24/7 http://loadshedding.eskom.co.za/loadshedding/description.
Load shedding's occurrences have also only been something more recent (past few months).
For the good part of the last 3 years it's hardly been there (so unnoticeable one would probably say power is hardly/never cut). Its just been more impactful in the past few months & the last few months of last year.
Generators/Inverters aren't rare in the suburbs or in the further outlying areas. At least not anymore. Not everyone, but one could hear someone else's close by/a neighbors.
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Sometimes Botswana Pula and Zambian Kwatsha are also used (esp. near the borders) but ATMs dispense USD.
As is well known and is mentioned in the article, what they actually used was other countries' currencies. Namely the South African Rand and the US Dollar. South Africa is the economically largest neighbour, and is stable by comparison. The US Dollar is the "global reserve".