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Kenya Blockchain Taskforce Recommends The Creation Of Kenya Own Cryptocurrency.

By Tony Chimdiuto Jul14,2018
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Last updated on December 31st, 2019 at 07:02 am

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The Kenya Blockchain Taskforce recommends the creation of a country’s local digital currency. The taskforce was commissioned in February with Dr. Bitange Ndemo as the Chairman.

The 11-member taskforce has recommended the creation of a digital currency by the Central Bank of Kenya. A digital currency that is traceable. A trusted identity for each of the country’s citizen was also recommended via the currency usage.

The creation of this digital currency was one of the top recommendations from the report made by the Taskforce Team.

It was recorded that the Head of ICT, NTSA, Fernando Wangila, has proposed a similar identity system for the Kenya citizens to enabled them have a wide range of access to government services which will be identifiable to them.

The Capital Markets Authority finalizes its report tagged “The Fintech Sandbox Policy” by the end of July. This policy aims to regulate how financial startups and innovators bring their products to the Kenyan market “Block chain Tech Startups inclusive”. It is expected to be ready by the end of July, says the CEO of Capital Markets Authority of Kenya, Paul Muthaura.

This policy will also affects how blockchain activities will be executed in the Kenyan Blockchain Market.

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By Tony Chimdiuto

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