Win for Kenya as taskforce gives nod to digital currencies

4 months ago
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 It will deal with so many other issues especially corruption. (Pic - Pixabay)
 

Kenya Blockchain taskforce chairman, Bitange Ndemo has given the nod to digital currency citing it as an unavoidable technology. Speaking during an interview with Kenya Citizen TV, the former Information PS acknowledges that there is a need for the country to forge forward and embrace crypto as it endeavors not to be left behind in this digital shake-up. 


"The digital currency is the same as cash. it's just in digital form. There is no need to print cash if we get used to digital cash. The good thing about it is also traceability. It will deal with so many other issues especially corruption. "


Bitange heads an The 11-member task force appointed by Kenya’s cabinet secretary for information, communications, and technology, Joseph Mucheru in February this year. The task force is for the idea of the creation of a central Bank digital currency to facilitate transactions upon adoption of Blockchain technology in Kenya. 

Kenya made headlines earlier this year with the launch of Nurucoin on 1st February 
2018. The virtual currency promises to address the root causes of the perennial imbalance of Intra-African trade currently at only 11% compared to Africa-Europe trade which stands at 66%.

 
Merchants have also started to slowly integrate digital currencies in payment for commodities as seen at Betty's place restaurant in Nyeri. One can pay for food at the restaurant using bitcoin.

Cabinet Secretary Joe Mucheru recently expressed his support of blockchain technology. As reported Token map  earlier this week, the former Google Kenya head told the Blockchain Summit in Morocco that the new technology “is really critical and important for us” because it “allows us to have a trustless system.”
The CS has on an earlier occasion been quoted as a beneficiary of cryptocurrency as he has bought and ripped big from bitcoin.

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