[kictanet] Cryptocurrency

Thu Nov 30 14:19:17 EAT 2017

As far as I can recall, the CBK issued a caveat emptor regarding
cryptocurrencies (vs outright ban), and consequently bitpesa link to MPESA
was severed. This was despite the KYC processes that BitPesa had in place.

It is possible to set up accounts on some of the crypto exchanges as a
Kenyan with your ordinary details, though the KYC process may take some
time.

Some recent interesting announcements:

http://www.newsbtc.com/2017/10/01/ripple-eyes-swift-primary-target-overtake/
https://thenextweb.com/hardfork/2017/11/28/iota-microsoft-data-marketplace-cryptocurrency/

On Thu, Nov 30, 2017 at 1:19 PM, gertrude matata via kictanet <
kictanet at lists.kictanet.or.ke> wrote:

> Dear listers,
>
> The conversation on the subject was interesting, sorry to take you back.
> It was all Greek to me so I consulted with a player in the field who shared
> what I have reproduced below.
>
> As a small scale investor, I have faced several challenges trading from
> Kenya due to strict controls. It is ironic that one of  the pioneer and
> currently thriving blockchain startups in Africa(Bitpesa) was founded in
> Nairobi where it has its headquarters but cannot serve Kenyans looking to
> invest in ICOs, Cryptocurrency and other Blockchain Assets.
>
> International exchanges are also not available for Kenyans for the same
> reason which means that the only way to get into the business is through
> proxy bank accounts abroad or cloud mining. The former may present
> unpredictable challenges in future due to lack of clear classification of
> income earned from cryptotrading and other transactions.
>
> Despite the risks in this young industry, the possibilities it has opened
> up for fluid global business and reinventing all public and private
> institutions is a paradigm shift that our country cannot afford to miss out
> on especially considering recent institutional challenges such as graft and
> electoral justice.
>
>
> *Here is a small list of unique block-chain solutions that may be adapted
> for our local institutions. *
>
>
>    1.  *Ripple* *(hyperfast money transfer system Supported by global
>    financial institutions including Standard Chartered*)
>    https://ripple.com/
>    2. * TETHER *(*Cryptocurrency hybrid between FIAT currency and
>    Blockchain allowing backing by a Central Bank)* https://tether.to/
>    3. *CIVIC* *(Blockchain ID Security that can be implemented in
>    government systems including ecitizen, IFMIS and KIMS)*
>    https://www.civic.com/
>    4. *IOTA* *(Secure management of smart devices,equipment, vehicles and
>    any other internet enabled technology)* https://iota.org/
>    5. *NEO* *(Securing and decentralizing Intellectual Property,
>    Contracts and any other digitized assets)* https://neo.org/
>
>
> NOTE: Due to the highly secure nature of the ledgers used in all these
> blockchain solutions, the unique keys produced in the block confirmations
> double as currency that can be successfully used to exchange value within
> and outside the individual system.
>
> From  ( kelvin at fitimagestudios.com )
>
>
>
>
> GERTRUDE MATATA CO. ADVOCATES
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-- 
Josiah Mugambi
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