BY IRENE MOYO
AN online skills empowerment organisation, Nui International, has introduced the Bulawayo community to the world of network marketing.
This involves trading in cryptocurrencies.
Plans are also afoot to establish an academy that will enlighten traders on this new currency, which has taken markets by storm.
A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.
Many cryptocurrencies are decentralised networks based on block-chain technology — a distributed ledger enforced by a disparate network of computers.
A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.
The advantages of cryptocurrencies include cheaper and faster money transfers and decentralised systems that do not collapse at a single point of failure.
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The disadvantages of cryptocurrencies include their price volatility, high energy consumption for mining activities, and use in criminal activities.
However, most Zimbabweans are not familiar or do not know cryptocurrencies, hence the need for more training and awareness on it.
At a workshop hosted by Nui International in Bulawayo recently, various experts made presentations on how traders can do business online using cryptocurrencies.
Beneficiaries of the workshop were drawn from Bulawayo, Hwange and Victoria Falls. Nui International member Vengai Dzvedere, who also presented at the workshop, said their aim was to empower everyone with the knowledge on how to use or transact using cryptocurrencies.
“We equip individuals with a lifetime skills on cryptocurrency so that they will be able to make money in the comfort of their homes,” Dzvedere said.
“It is also our goal to create 1 000 millionaires within the next coming three years, so those who are privileged to receive such an opportunity should grab it with both hands.”
Another presenter, Silethokuhle Khumalo, said Nui International saw an opportunity to revive hope to those who had lost it as a result of bogus schemes.
“What pushed us to introduce the cryptocurrency programme in Bulawayo is that, we have seen many people succeeding in this business of network marketing under the supervision and knowledge of our organisation,” Khumalo said.
“Many have been scammed by different companies in this field of business and we are here to provide all the trusted knowledge on cryptocurrency through the academy.”
Khumalo said once the academy has been established in Bulawayo they will spread their wings into different cities around the country.
In the meantime the company has over 1 000 students who joined and some are already making money through cryptocurrency trading.
Nui International has more than five years in the financial markets.
It has joined hands with Nzwedaz Bitcon Academy, a South Africa’s leading Crypto education company which was official formed in March 2018 with the aim to train people to trade and benefit from Bitcon.