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

Fri Jan 24 12:47:26 EAT 2020

Agreed, Libra according to Facebook will largely be backed by USD so it is
really a Corporate manifestation of the eDollar; plus we are talking about
a generational play here driven globally by millennial's and younger they
are looking(demanding) for both convenience and choice.

They will run to whichever e-currency(s) have both, which is why its a
race...

On Fri, Jan 24, 2020 at 12:05 PM Mwendwa Kivuva via kictanet <
kictanet at lists.kictanet.or.ke> wrote:

> 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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> KICTANetiquette : Adhere to the same standards of acceptable behaviors
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