[kictanet] Vodafone snubs Libra in favour of growing M-Pesa digital money

Fri Jan 24 12:05:02 EAT 2020

It will be hard to dislodge the dollar. Federal Reserve Bank cas create a
dollar serve stablecoin and tht will end the debate

On Fri, Jan 24, 2020, 9:34 AM mauxdatabase via kictanet <
kictanet at lists.kictanet.or.ke> wrote:

> Libra will probably launch when China rolls-out their digital currency via
> TenCent and AliPay.
>
> Its an inevitability that the Worlds next reserve currency will be an
> Internet Currency so the race is on....
>
> On Fri, Jan 24, 2020 at 8:53 AM Ali Hussein via kictanet <
> kictanet at lists.kictanet.or.ke> wrote:
>
>> @Willis
>>
>> Facebook went to great lengths to assure partners it won’t control Libra.
>> To the extent of creating a consortium with representation across the
>> divide. I guess they failed to dispense the fears of regulators and policy
>> makers. I’m very convinced that the pressure to leave the Libra Consortium
>> came from other quarters other than the reasons being given by those who
>> are now bailing out after paying $10 million to join the Libra Consortium.
>>
>> Read more about the Libra Consortium below.
>>
>> https://techcrunch.com/2019/06/18/facebook-libra/
>>
>> *Ali Hussein*
>> +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
>>
>> On 23 Jan 2020, at 8:50 PM, Willis Muriu via kictanet <
>> kictanet at lists.kictanet.or.ke> wrote:
>>
>> 
>> For me, the one major issue was that it was "controlled" by Facebook
>> (centralized) unlike Bitcoin (decentralized.)
>>
>> Another reason, I think, is because it proved to be serious competition
>> to the Dollar, and you have heard what happens when you challenge the
>> Dollar.
>>
>> Regards,
>> Willis Muriu
>> +254 715 530 349
>>
>> On Thu, Jan 23, 2020 at 6:37 PM Ali Hussein via kictanet <
>> kictanet at lists.kictanet.or.ke> wrote:
>>
>>> Interesting...Most of the incumbent players are one by one abandoning
>>> Libra. What gives? Pressure from regulators?
>>>
>>> Here
>>> <https://www.forbes.com/sites/sergeiklebnikov/2019/10/21/here-are-all-the-companies-that-bailed-on-facebooks-libra/#674681de3487>
>>> are some of the other companies that have bailed out on Libra. The list
>>> includes Visa, Mastercard, Stripe, Mercado Pago and eBay.
>>>
>>> Pressure from regulators and policy makers is real.
>>>
>>> Regards
>>>
>>> *Ali Hussein*
>>>
>>>
>>> Tel: +254 713 601113
>>>
>>> Twitter: @AliHKassim
>>>
>>> Skype: abu-jomo
>>>
>>> LinkedIn: http://ke.linkedin.com/in/alihkassim
>>> <http://ke.linkedin.com/in/alihkassim>
>>>
>>>
>>>
>>>
>>> Any information of a personal nature expressed in this email are purely
>>> mine and do not necessarily reflect the official positions of the
>>> organizations that I work with.
>>>
>>>
>>> On Thu, Jan 23, 2020 at 4:10 PM Mwendwa Kivuva via kictanet <
>>> kictanet at lists.kictanet.or.ke> wrote:
>>>
>>>> Vodafone has withdrawn from Facebook’s digital currency initiative
>>>> Libra, as regulators and bureaucrats circle overhead.
>>>>
>>>> While Facebook might have become accustomed to sitting in the
>>>> regulatory spotlight, it seems other companies are not as accepting of the
>>>> attention. In an increasing tsunami of regulatory scrutiny, Vodafone has
>>>> become the latest company to withdraw from the Libra initiative, joining
>>>> the likes of Paypal and Mastercard.
>>>>
>>>> “Vodafone Group has decided to withdraw from the Libra Association,” a
>>>> Vodafone spokesperson said.
>>>>
>>>> “We have said from the outset that Vodafone’s desire is to make a
>>>> genuine contribution to extending financial inclusion. We remain fully
>>>> committed to that goal and feel that we can make the most contribution by
>>>> focusing our efforts on M-Pesa. We will continue to monitor the development
>>>> of the Libra Association and do not rule out the possibility of future
>>>> co-operation.”
>>>>
>>>>
>>>> https://telecoms.com/501960/vodafone-snubs-libra-in-favour-of-m-pesa/
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>> The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform
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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.
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