[kictanet] KICTANet Digest, Vol 168, Issue 12

[Adrian Teri]

As the digital currency(Just a ledger) will be 1:1 to all other forms of
money that CBK has the legal right to issue, the question I ask is why
every adult/person who has reached the age of consent doesn't have an
account directly with the #CBK.

It'll avoid inefficiencies such as going through intermediaries or special
purpose vehicles when a nation is writhing in economical crisis such as
what the last 2 years has been. As Scott Galloway has said during the
pandemic "we need to be very harsh on companies but compassionate on
households and people. You put money in people's pockets and they will
spend it!". It would also spare the theatrics like what we saw in the US of
cheques/checks containing an individual's signature.

Also an idea I have heard and thought of in matters UHC. It involves the
gov't/CBK directly depositing/marking up funds in your account every fiscal
year and if you don't exhaust it you get to spend it on a holiday or
anything else.

Yours Kindly,
Adrian

On Thu, 10 Feb 2022 at 13:47, <kictanet-request at lists.kictanet.or.ke> wrote:

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> Today's Topics:
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>    1. Can Digital Currency Help Kenya? CBK Has a Discussion Paper
>       (David Indeje)
>
>
>
> ---------- Forwarded message ----------
> From: David Indeje <davidindeje at gmail.com>
> To: KICTAnet ICT Policy Discussions <kictanet at lists.kictanet.or.ke>
> Cc:
> Bcc:
> Date: Thu, 10 Feb 2022 13:43:43 +0300
> Subject: [kictanet] Can Digital Currency Help Kenya? CBK Has a Discussion
> Paper
> [image: image.png]
> Listers,
>
> As Central Banks explore possibilities of rolling out 'Central Bank
> Digitial Currency" - CBDC, Kenya is not being left out with an aim of
> meeting its future payments needs in a digital economy.
>
> As a result, the Central Bank of Kenya has developed a discussion paper
> centre on:
>
>
>    1.  Kenya’s Payments Landscape
>    2. CBDC: Opportunities and Risks
>    3. Overview of Other Jurisdictions’ CBDC Projects and
>    4.   Applicability of CBDC in Kenya
>
>
>   "It is quite apparent that CBDCs are receiving more attention than ever
> before. However, a key point to note is that despite the traction in
> attention, the motivations for the issuance of CBDCs vary across countries,
> as do the policy approaches and technical designs. Further, CBDC design and
> the potential benefits of a Kenyan CBDC remain unclear, similar to many
> jurisdictions across the world. Issuing a CBDC could also pose considerable
> risks." CBK at it Conclusion. Find a link to the paper
>
> https://www.centralbank.go.ke/uploads/discussion_papers/CentralBankDigitalCurrency.pdf
>
>
> This leads us to "Towards an Inclusive and Sustainable Fintech Ecosystem
> in Kenya" which looked at the current outlook, challenges and policy
> options for the Fintech Sector in Kenya.
>
>
> https://www.kictanet.or.ke/mdocs-posts/towards-an-inclusive-and-sustainable-fintech-ecosystem-in-kenya/
>
>
> Adios!!
>
> *Kind Regards,*
>
>
> *David Indeje *_____________________________________
> +254 (0) 711 385 945 |  +254 (0) 734 024 856
> <https://www.linkedin.com/in/david-indeje/>
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