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

Ali Hussein ali at hussein.me.ke
Mon Jan 27 06:41:24 EAT 2020 

@John Karanja <mauxdatabase at gmail.com>

Distribution will mean nothing if the regulators and policymakers decide to
declare it illegal.  I know us tech entrepreneurs think we are invincible
and that regulation and policy mean jack to us. I've come to be disabused
of that notion. I keep on telling anyone who will listen the simple truths
of life. One of them is this:-

*"If you are not at the table partaking the lunch, dinner or
breakfast...guess what? You are on the menu."*

And you can take that to the bank. Pun intended.

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 Fri, Jan 24, 2020 at 5:21 PM mauxdatabase via kictanet <
kictanet at lists.kictanet.or.ke> wrote:

> I don't disagree on Tether et al likelihood of collapse.
>
> The Federal Reserve can't match Facebook in terms of distribution globally
> via the internet (Messenger/Whatsapp/Instagram)  Libra is a more suitable
> vehicle for the e-dollar, however its created; given China Central Bank is
> angling to do the same with Tencent and WeChat and their CBDC. My point is
> there is a scramble for a dominant Internet Currency which is what FB is
> banking on get Libra approved...
>
> On Fri, Jan 24, 2020 at 2:05 PM Mwendwa Kivuva via kictanet <
> kictanet at lists.kictanet.or.ke> wrote:
>
>> There are many claimed dollar fiat collateralized stablecoins (TUSD,
>> USDT, PAX, GUSD, USDC) and now Libra. Many will end in tears. There is an
>> ongoing court case already in New York on Tether (USDT) that it is not
>> backed by $ on one to one as it is claimed, that there is no $$ collateral
>> to match the claimed value of Tether, and Tether is used to manipulate the
>> value of cryptocurrencies by pumping the price if BTC.
>>
>> My point is, a dollar backed stablecoin is not the same as a Federal
>> Reserve Bank cryptocurrency. A Federal Reserve Bank cryptocurrency will not
>> be backed by the dollar because it is the dollar.
>>
>>
>> On Fri, Jan 24, 2020, 12:47 PM mauxdatabase <mauxdatabase at gmail.com>
>> wrote:
>>
>>> 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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>>>>>> _______________________________________________
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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
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>>>>>> _______________________________________________
>>>>>> kictanet mailing list
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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
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>>>>>>
>>>>> _______________________________________________
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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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>>>>
>>>> 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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>>> _______________________________________________
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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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>
> Unsubscribe or change your options at
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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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