Cryptocurrency integration inevitable as Nyeri embraces bitcoin

5 months ago
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Betty's Place in Nyeri, which is accepting bitcoin (Photo courtesy)

Got bitcoins to spend? Kenya has not been left behind as merchants start to slowly integrate payment options including digital currencies. Just 151 kilometers from Nairobi, in the town of Nyeri, Betty's place restaurant is now accepting Bitcoin as payment for their commodities

 

In an exclusive interview with Tokenmap, Beatrice Wambugu the proprietor of the business says that she has received so many reactions from people who want to learn more about the digital coin and how it works. So far, She has three customers who have paid for her services via BTC

 

“Money has been evolving for centuries and businesses too have been adapting with the changes since barter trade and the introduction of coins and notes. The digital era that began with PayPal, Visa and MasterCard gave way to MPESA and now cryptocurrency. It is the future of money and I am embracing the future.”

 

The cryptocurrency topic has caused quite a stir here in Kenya in the recent past with Kenyan law-makers in the financial committee calling for the National Treasury to ban or put strict regulations on crypto exchanges and dealers. The members of parliament, as reported earlier by Tokenmap, were concerned about the fact that cryptocurrency transactions are anonymous and untraceable and can be used by corrupt individuals for money laundering. In its part, the Cabinet Secretary, Henry Rotich sticks with his sentiment that the country needs not want to rush into a particular design of regulation, which can kill the development of this technology because there are some positive things which are happening in this technology that the country may want to embrace. 

Back in Nyeri, Beatrice hopes that Kenyans will soon embrace this new currency which is bound to disrupt a lot of industries

“Cryptocurrency is here to stay, not even regulated by CBK. This is a global evolution. They can't help it but accept it. The problem we have is lack of information” She reiterates

 

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