In this edition of Business Day Spotlight, our focus is on a new SA cryptocurrency called EOSza.

Our host Mudiwa Gavaza is joined by Rory Mapstone, founder of EOSza. a local developer of blockchain applications, which recently launched what it says is the country’s first digital currency that holds a stable value.

eZAR is a digital coin that is pegged to the South African Rand. In other words, one eZAR coin (or token) will always be worth R1, says Mapstone.

Cyptocurrencies have become notorious for their volatility with the value of one Bitcoin increasing or decreasing by as much as 20% within a single day, making the currency largely unsuitable for daily transactional usage. Stablecoins have attempted to fill the gap by making it possible to use digital money as a fully fledged payment method to pay for goods and services.

In this discussion, Mapstone explains their rationale for creating eZAR, how it works, the mechanism that ensures a constant value in the market and where can people use the digital coin.

He also gives his thoughts on Facebook’s plans for a digital currency – Libra and details some plans to make their coin tradeable on exchanges like AltX Trader or Luno.

Listen in to hear thoughts around these and other questions.

Business Day Spotlight is a MultimediaLIVE Production.