India, Oct. 26 -- Zimbabwe's push for digital payments with the ZiG, a gold-backed currency, aims to enhance trust and usability.

However, success hinges on public confidence, institutional control, and voluntary adoption.

Lessons from Cambodia and Namibia show that while technology can improve convenience, trust in the currency must be built through credible monetary policies and transparent systems.

Zimbabwe's central bank wants people to use the ZiG, a gold-backed local currency launched in April 2024, alongside the US dollar. A proposed real-time payment system based on Indian technology could help make the ZiG easier and cheaper to use.

But digital payments will strengthen the currency only if people have good reasons to trust it...