[kictanet] Should a Technology be regulated? - The current state of blockchain regulation

Tue May 9 13:45:11 EAT 2017

Ngigi

Absolutely. Unfortunately what happens in cases where potential for disruption is high is that incumbents play the fear factor to try and block it from happening. Unfortunately for them they will simply be swept by the wayside..

Ali Hussein
Hussein & Associates
+254 0713 601113 / 0770906375

Twitter: @AliHKassim
Skype: abu-jomo
LinkedIn: http://ke.linkedin.com/in/alihkassim
Blog: www.alyhussein.com

"Discovery consists in seeing what everyone else has seen and thinking what no one else has thought".  ~ Albert Szent-Györgyi

Sent from my iPad

> On 9 May 2017, at 1:13 PM, Ngigi Waithaka via kictanet <kictanet at lists.kictanet.or.ke> wrote:
> 
> Ali,
> 
> The criminal argument against Blockchain is probably the weakest, especially from a Kenya PoV where you might want to ask, how many criminals have been caught in the mainstream financial system viz-a-viz the amounts of monies laundered?
> 
> Rgds
> 
>> On Tue, May 9, 2017 at 5:21 AM, Ali Hussein via kictanet <kictanet at lists.kictanet.or.ke> wrote:
>> Dear Listers
>> 
>> BlockChain Technology is in its infancy the world over. From the US to China to Europe, countries and players haven't really figured out how to play this ground breaking Technology when it comes to regulation. It doesn't help that the Technology is marred by the criminal elements that use Bitcoin to launder money and generally use it to hide from law enforcement agencies. For example Kidnappers and Denial of Service Hackers insist on being paid by Bitcoins because of its potential anonymity.
>> 
>> However, criminals since time immemorial have always conducted their activities using mainstream financial engineering methods and tools to hide their ill gotten wealth. Should we confine a Technology that has the biggest potential to positively impact the world in a way not seen since the advent of the internet to criminality because it is being used by criminal elements? Or should we harness its great potential while mitigating its darker side? 
>> 
>> Many of us know that the Internet has a darker side - The dark web, where activities like Mass Identity Theft, Child Pornography and DDoS Ransoms routinely happen. This hasn't stopped it becoming mainstream and being unequivocally a force for good.
>> 
>> http://weartv.com/news/local/dark-web-542017
>> 
>> So why then is the conversation around Bitcoins, other cryptocurrencies and the Technology that makes them possible so marred in controversy? 
>> 
>> The article below and a research linked therein seeks to answer some of these questions.
>> 
>> https://t.co/ZV903HSohf
>> 
>> However, even as we read global stories on BlockChain we must chart our own path. This will take players from diverse backgrounds and motivations to pull together to ensure we are not left behind and we harness the full potential of BlockChain Technologies to advance ourselves.
>> 
>> Ali Hussein
>> Principal
>> Hussein & Associates
>> +254 0713 601113 
>> 
>> Twitter: @AliHKassim
>> Skype: abu-jomo
>> LinkedIn: http://ke.linkedin.com/in/alihkassim
>> 
>> "We are what we repeatedly do. Excellence, therefore, is not an act but a habit."  ~ Aristotle
>> 
>> 
>> Sent from my iPad
>> 
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> 
> 
> 
> -- 
> Regards,
> 
> Waithaka Ngigi
> Chief Executive Officer | Alliance Technologies | MCK Nairobi Synod Building
> T +254 20 525 0750 |Office Mobile: +254 716 201061 | M +254 737 811 000
> www.at.co.ke
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> The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform for people and institutions interested and involved in ICT policy and regulation. The network aims to act as a catalyst for reform in the ICT sector in support of the national aim of ICT enabled growth and development.
> 
> KICTANetiquette : Adhere to the same standards of acceptable behaviors online that you follow in real life: respect people's times and bandwidth, share knowledge, don't flame or abuse or personalize, respect privacy, do not spam, do not market your wares or qualifications.
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