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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">That energy has a purpose, and provides value to a consumer somewhere. The energy used in “mining a currency” provides no value at all, but is calculating sums
for no reason other than to control supply of such currencies. It’s not to say that banks, data centers or ATMs should not be more energy efficient, but it is important to question why a process is designed to waste resources.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal" style="background:white"><b><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#404040">Senior Director, Public Affairs<o:p></o:p></span></b></p>
<p class="MsoNormal" style="background:white"><b><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#404040">Huawei Southern Africa</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black"><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#595959">Mobile: +254-7909-85886
</span><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> Sidney Ochieng [mailto:sidney.ochieng@gmail.com]
<br>
<b>Sent:</b> Monday, January 29, 2018 10:37 AM<br>
<b>To:</b> KICTAnet ICT Policy Discussions <kictanet@lists.kictanet.or.ke><br>
<b>Cc:</b> Adam Lane <adam.lane@huawei.com><br>
<b>Subject:</b> Re: [kictanet] World's biggest ever digital currency 'theft'<o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">I find numbers like this thrown around without context mean nothing. How much of the worlds current energy is used on other financial transactions, running banks, credit cards, atms etc? Would anyone say that energy is wasted? <o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">On 29 January 2018 at 09:41, Adam Lane via kictanet <<a href="mailto:kictanet@lists.kictanet.or.ke" target="_blank">kictanet@lists.kictanet.or.ke</a>> wrote:<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">Let’s not forget the biggest flaw of all with crypto currencies is that they depend on basically wasting
energy (Which may or may not be sustainably produced, even so it could be better used than on crunching pointless numbers):</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"> </span><o:p></o:p></p>
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<span style="font-size:10.0pt;font-family:Symbol;letter-spacing:-.05pt">·</span><span style="font-size:7.0pt;letter-spacing:-.05pt">
</span><i><span style="font-size:16.0pt;font-family:"Georgia",serif;letter-spacing:-.05pt">In 2017:</span></i><o:p></o:p></p>
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<li class="MsoNormal" style="mso-margin-top-alt:auto;margin-bottom:10.5pt;mso-list:l0 level2 lfo1;background:white">
<i><span style="font-size:16.0pt;font-family:"Georgia",serif;letter-spacing:-.05pt">42.67 TWh: The annual energy consumption of Bitcoin and Ethereum combined</span></i><o:p></o:p></li><li class="MsoNormal" style="mso-margin-top-alt:auto;margin-bottom:10.5pt;mso-list:l0 level2 lfo1;background:white">
<i><span style="font-size:16.0pt;font-family:"Georgia",serif;letter-spacing:-.05pt">0.19%: The percentage of the world’s electricity used by Bitcoin and Ethereum</span></i><o:p></o:p></li><li class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l0 level2 lfo1;background:white">
<i><span style="font-size:16.0pt;font-family:"Georgia",serif;letter-spacing:-.05pt">8.49: The number of U.S. households that could be powered for a full day with the same energy as single bitcoin transaction</span></i><o:p></o:p></li></ul>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"> </span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;background:white">
<b><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#404040">Senior Director, Public Affairs</span></b><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;background:white">
<b><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#404040">Huawei Southern Africa</span></b><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;background:white">
<span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#595959">Mobile: +254-7909-85886
</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"> </span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> kictanet [mailto:<a href="mailto:kictanet-bounces%2Badam.lane" target="_blank">kictanet-bounces+adam.lane</a>=<a href="mailto:huawei.com@lists.kictanet.or.ke" target="_blank">huawei.com@lists.kictanet.or.ke</a>]
<b>On Behalf Of </b>Admin CampusCiti via kictanet<br>
<b>Sent:</b> Sunday, January 28, 2018 6:12 PM<br>
<b>To:</b> Adam Lane <<a href="mailto:adam.lane@huawei.com" target="_blank">adam.lane@huawei.com</a>><br>
<b>Cc:</b> Admin CampusCiti <<a href="mailto:info@campusciti.com" target="_blank">info@campusciti.com</a>><br>
<b>Subject:</b> Re: [kictanet] World's biggest ever digital currency 'theft'</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Lesson:-<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">That we are not safe anywhere from thieves? :-)<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;margin-bottom:12.0pt">Seriously though one of the fundamental flaws of cryptocurrencies is that once you have been liberated from your cryptos you have no recourse. This is a design flaw that we are all hoping
will be resolved. Sooner rather than later.<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b>Ali Hussein</b><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b>Hussein & Associates</b><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:13.5pt;font-family:"Helvetica",sans-serif">+254 0713 601113 </span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:13.5pt;font-family:"Helvetica",sans-serif"> </span><o:p></o:p></p>
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<p style="margin:0in;margin-bottom:.0001pt">Twitter: @AliHKassim<o:p></o:p></p>
<p style="margin:0in;margin-bottom:.0001pt">Skype: abu-jomo<o:p></o:p></p>
<p style="margin:0in;margin-bottom:.0001pt">LinkedIn: <a href="http://ke.linkedin.com/in/alihkassim" target="_blank">http://ke.linkedin.com/in/alihkassim</a><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Blog: <a href="http://www.alyhussein.com/" target="_blank">www.alyhussein.com</a><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;margin-bottom:12.0pt"><o:p> </o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">"Discovery consists in seeing what everyone else has seen and thinking what no one else has thought". ~ Albert Szent-Györgyi<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;margin-bottom:12.0pt"><o:p> </o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Sent from my iPad<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;margin-bottom:12.0pt"><br>
On 27 Jan 2018, at 8:53 PM, Victor Kapiyo via kictanet <<a href="mailto:kictanet@lists.kictanet.or.ke" target="_blank">kictanet@lists.kictanet.or.ke</a>> wrote:<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Tahoma",sans-serif;color:#20124D">Dear Listers,</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Tahoma",sans-serif;color:#20124D">One of Japan's largest digital currency exchanges says it has lost some $534m (£380m) worth of virtual money in a hacking
attack on its network. </span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Tahoma",sans-serif;color:#20124D">Coincheck suspended deposits and withdrawals for all crypto-currencies except Bitcoin as it assessed its losses in NEM,
a lesser-known coin. If the theft is confirmed, it will be the largest involving digital currency. Another Tokyo exchange, MtGox, collapsed in 2014 after admitting that $400m had been stolen from its network.</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Tahoma",sans-serif;color:#20124D">Read more: <a href="http://www.bbc.com/news/world-asia-42845505" target="_blank">http://www.bbc.com/news/world-asia-42845505#</a> </span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Tahoma",sans-serif;color:#20124D">What lessons can we learn from this?</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Tahoma",sans-serif;color:#20124D">Regards,</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-family:"Tahoma",sans-serif;color:#20124D">Victor Kapiyo</span></b><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:7.5pt;font-family:"Tahoma",sans-serif;color:#351C75">Partner |
<i>Lawmark Partners LLP</i></span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:7.5pt;font-family:"Tahoma",sans-serif;color:black">Advocate of the High Court of Kenya, Commissioner for Oaths & Notary Public</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><i><span style="font-size:7.5pt;font-family:"Tahoma",sans-serif;color:black">Suite No. 8, Centro House, Westlands, Nairobi | </span></i><i><span style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black">Web:
<a href="http://www.lawmark.co.ke" target="_blank">www.lawmark.co.ke</a> </span></i><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;margin-bottom:12.0pt"><span style="font-size:7.5pt;font-family:"Tahoma",sans-serif;color:black">====================================================<br>
<i>“Your attitude, not your aptitude, will determine your altitude” Zig Ziglar</i></span><o:p></o:p></p>
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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
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<p class="MsoNormal"><span style="font-size:10.0pt">Regards,</span><span style="font-size:9.5pt"><o:p></o:p></span></p>
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<p class="MsoNormal">Sidney<span style="font-size:9.5pt"><o:p></o:p></span></p>
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<strong><span style="font-family:"Verdana",sans-serif">Twitter:</span></strong></span></b><span style="font-size:10.0pt;font-family:"Verdana",sans-serif;color:#333D47"> <a href="https://twitter.com/princelySid" target="_blank">@princelySid</a> | <b>Web: </b><a href="http://sidneyochieng.co.ke/" target="_blank">sidneyochieng.co.ke</a><br>
<b>Skype: </b>sidney.ochieng | <b>Github:</b> <a href="https://github.com/princelySid" target="_blank">
princelySid</a></span><span style="font-size:8.5pt;font-family:"Verdana",sans-serif;color:#333D47"><o:p></o:p></span></p>
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