The blockchain has garnered a lot of hype thanks to its potential to disrupt various industries from healthcare and banking to the supply chain and elections. However, there is still a huge gap between blockchain hype and actual implementation.
BitcoinAfrica.io spoke with Kingsley Ndiewo, CEO of Nairobi-based blockchain development and education startup Funtrench, to hear his views on how this gap can be bridged.
Awareness is Everything
The first step towards moving from a lot of talk about what the blockchain could do to adoption is awareness. According to Ndiewo, the Kenyan government and the private sector should spearhead the sensitisation of civil servants, policymakers, and the public.
“When government functionaries are well-informed about the technology itself then they can better push for adoption within government bodies and recognise the benefits that accrue from widespread adoption. Institutions such as NITA and TVET can be equipped to train blockchain skills at a vocational level through private sector partnerships,” he said.
The National Industrial Training Authority (NITA) and the Technical and Vocational and Educational Training (TVET) programs focus on instilling hands-on skills to learners. Ndiewo believes that for blockchain technology adoption to actually happen, hands-on training is important as well.
Moreover, for real blockchain adoption to take place in Kenya, the private sector needs to develop market-ready blockchain solutions.
“Only by well-implemented and viable solutions being in use can adoption become possible. A sensitised government will provide opportunities for the private sector to implement blockchain-based solutions,” he added.
To this end, little is being done towards increasing awareness and executing blockchain-based solutions in Kenya.
For instance, the Kenyan government created a Blockchain and AI Taskforce in 2018 whose report is yet to be released publicly while only a handful of companies – such as Twiga Foods and the Kenya National Chamber of Commerce and Industry (KNCCI) – have announced partnerships for blockchain-based solutions.
Leading by Example: Blockchain Solutions and Education
With less than a year in the blockchain space, Funtrench is eager to make a change with its three blockchain-based solutions, Ndiewo noted.
The first solution the technology company is working on is a portable DLT. This solution will offer a portable solar-powered blockchain network.
The second solution is SACCO Chain, a mobile app that seeks to solve the challenge of fractional ownership of machinery, vehicles, and other assets.
Ndiewo explained: “Fractional ownership is a key aspect of table-banking and SACCO operation in Africa. The solution will manage member elections on investment and administrative decisions and manage revenue distribution and virtual meetings.”
The third solution is Ganji, a cross-border payments and asset exchange platform. The solution solves the issue of cross-border trade in Africa and the high-cost of remittances.
Additionally, Funtrench has partnered with US-based certification company Blockchain Training Alliance (BTA) to offer blockchain education courses such as Blockchain Business Foundations, Blockchain Security Professional, Blockchain Solutions Architect, Blockchain Developer Hyperledger, and Blockchain Developer Ethereum.
The Nairobi-based startup is also working with organisations such as Oshwal College, AkiraChix, BlackRhinoVR, Kesholabs, Hyperledger Community, Kenya’s Blockchain & AI Taskforce, and Botlab to promote the blockchain and other emerging technologies in Kenya.
Most Kenyan Companies Will Adopt Blockchain in the Next Five Years
In the next five years, the Funtrench CEO envisions an environment where most businesses, including SMEs, will have deployed blockchain solutions in their operations. Moreover, he expects that blockchain solutions in Kenya will be prevalent in government agencies where they will be used to enhance transparency and secure data.
“We expect that blockchain solutions will be as commonplace as databases and their benefits will be more deeply understood by the general public. This will increase confidence in systems that employ blockchain technology and subsequently increase demand for blockchain-savvy professionals,” Ndiewo concluded.
Zippie Rolls Out Blockchain-Based Mobile Solution for Africa
Blockchain startup Zippie has rolled out a blockchain-based mobile solution for Africa in collaboration with Zambia’s AfriDelivery, Musanga, and Tigmoo. The three online companies will use the Zippie mobile blockchain platform to reward their customers for making purchases, giving referrals, and using delivery services.
Rewarding Customers via Zippie
AfriDelivery, Musanga, and Tigmoo will start rewarding customers with airtime using the Zippie blockchain-based mobile platform enabling them to have more customers and to maintain the most loyal ones.
The rewards wallet is accessible on the companies’ websites or apps allowing customers to receive airtime in their blockchain wallets. Customers can also send this airtime to other people by sharing a payment link through chatting apps like WhatsApp and Facebook Messenger.
“We are focusing our efforts on the continent where even the smallest earning opportunity can make the biggest impact. The rapidly growing smartphone adoption and online commerce, the young entrepreneurial population of which most work in the informal sector, and the leadership in taking mobile money into use offer a fertile ground for Zippie to take off on the continent,” said Pasi Rusila, COO and co-founder of Zippie.
Zippie is a white label super app whose goal is to democratise opportunity for everyone by enabling online businesses to reward their users.
Scaling Zippie’s Adoption in the African Market
According to Rusila, the first three partnerships will help Zippie to sell its blockchain solution to other online businesses.
“The market entry provides us the opportunity to get the Zippie platform to the hands of thousands of end-users within months. This enables us to gather the always-so-critical user feedback and steer the product development in the right direction, fulfilling genuine market needs,” he stated.
The company is confident that Zippie will have a positive impact on the lives of Africans by seamlessly transferring value between businesses and people.
“We are pleased to say that there are numerous other partnerships in the pipeline in several countries ready to start rewarding their users with mobile airtime and other valuable items,” Rusila added.
With Zippie, users are guaranteed security, the elimination of middlemen, and free sharing of rewards. On the other hand, the process of integrating Zippie with a product is easy. Businesses are, therefore, assured of a seamless integration process.
According to UNCTAD, e-commerce in Africa is still lagging behind compared to the rest of the world. Zippie could be a solution that pushes more Africans to shop online.
Medici Land Governance Signs MoU with Liberia’s Ministry of Finance to Digitise Government Services
Medici Land Governance (MLG) has signed a memorandum of understanding with the Ministry of Finance and Development Planning in Liberia. The aim of the agreement is to explore the potential for the digitisation of current government services and the creation of e-government platforms.
The Pilot Project
The pro bono pilot project will support the Pro-poor Agenda for Prosperity and Development (PAPD) and the Pillar II (Economy and Jobs) in the PAPD agenda. This is agenda is a Liberian government initiative.
Additionally, the pilot project will investigate how to shift Liberia to a digital and blockchain-focused economy and how to enable interoperability among government services.
MLG will also train Liberians through knowledge transfer as well as create jobs during the initial phase of gathering data and after the implementation stage where trained personnel will be needed to maintain the system.
Through the pilot project, Liberia joins countries like Rwanda and Zambia who are undertaking blockchain projects in partnership with MLG.
Ali El Husseini, the CEO of MLG, said: “Medici Land Governance’s work is a major component of Medici Ventures’ goal to create ‘a blockchain tech stack for civilization. Liberia is well-positioned to explore implementing a blockchain backbone for e-government, which connects the various government ministries as their services are digitised and brought online. This pilot project is an excellent opportunity for Medici Land Governance to demonstrate how we can tailor our products and services to the needs of Liberia’s government and economy.”
MLG is a blockchain subsidiary of Overstock Inc., a Utah-based online retailer and technology company.
Digitising Liberia’s Economy
According to the Minister of Finance and Development Planning, Samuel Tweah, the agreement with MLG is a sign that Liberia is ready to digitise its economy and move government services to a digital platform.
“We believe that the free pilot project when implemented, will showcase Liberia’s readiness to digitise the economy and migrate to an e-government platform that will facilitate full interoperability of the Government of Liberia services and systems,” he said in a press release.
Medici Ventures aims to introduce blockchain technology to existing markets in order to “eliminate middlemen, democratise capital, and re-humanise commerce.”
Patrick M. Byrne, Chairman of MLG and founder and CEO of Overstock, observed: “In 2019, I have been pleased and honoured to see African nations growing enthusiastic about the possibility of using blockchain to accelerate their development. Liberia now becomes the third African country to agree to give [our suite of blockchain-based land governance products] a try.”
South African Reserve Bank to Conduct Central Bank Digital Currency Feasibility Study
The South African Reserve Bank (SARB) is set to conduct a central bank digital currency (CBDC) feasibility study according to an expression of interest (EOI) issued on April 29, 2019. Through the EOI, SARB is looking for solution providers to offer technological infrastructure and skills to the project.
The CBDC Feasibility Project Charter
Developed in May 2018, the CBDC Feasibility Project Charter aims “to investigate the feasibility and desirability of central bank issued digital currency to be used as electronic legal tender, complimentary to cash.”
Additionally, the purpose of the feasibility project will be finding out how issuing a CBDC can support SARB’s vision of leading “in serving the economic well-being of South Africans through price and financial stability.”
The establishment of this project was as a result of a mandate the Currency Management Department of the SARB gave in 2016. The order required the selected team to investigate the case of a CBDC issued and backed by SARB.
According to the expression of interest, the CBDC feasibility project will be carried out in a contained innovation lab environment. The innovation lab will comprise of software, technical skills, infrastructure, and business skills. However, SARB makes it clear that the CBDC feasibility project is exploratory in nature and does not constitute any long-term plan or commitment to issue a government-backed digital currency.
The study only focuses on issuing the CBDC as an electronic version of cash as opposed to a universally accessible form of central bank reserve money or a central bank issued version of commercial bank account money.
CBDC Project Stages
The feasibility project will be carried out in the innovation lab in two stages. The first stage will be internally conducted and will entail testing principles, validating the feasibility of recommended technical solutions, and increasing the body of knowledge.
The second stage will extend participation to external banks and mobile network operators and potentially to payment service and niche technology providers. In addition, the set of use cases will be increased to incorporate the full value chain so as to establish the possibility of the solution to satisfy SARB’s objectives.
In the EOI, SARB makes it clear that there is no preference of basing the project on a distributed ledger technology platform, the blockchain, or existing traditional technology.
“It is envisaged that a solution could be based on any one or a combination of technologies,” SARB explains.
Some of the policies that will guide CBDC include:
- Only SARB must issue the CBDC as legal tender
- Commercial banks must issue the CBDC under SARB’s regulatory oversight
- Must enable the issuance and distribution of CBDC to commercial banks or licensed service providers
- CBDC must be issued on a one-on-one parity with the rand
- CBDC transactions must be free or low-cost to consumers
- CBDC must provide an incentive to increase its use
- CBDC must be accepted as a means of payment by all businesses and the government
- Consumers must be able to make transactions with CBDC without the need for a bank account
- CBDC must not be easily counterfeited
- CBDC must be scalable
- It should be possible to cancel a CBDC serial number that is proven to be a counterfeit
The CBDC feasibility project comes after the successful trial of SARB’s blockchain-based Project Khokha. Once the project is complete, SARB will decide on the next steps to take based on the outcomes.
Applications of the expression of interest will close on June 6, 2019, at 11:30 am.
Bet With Bitcoin
Humaniq Doubles Number of Nations Where it Brings Global Unbanked Better Options
Places in Africa Where You Can Find a Bitcoin ATM
EcoHack Africa 2018 Aims to Build Blockchain-Based Green Economy Platform for Africa
Kenya’s RideSafe to Receive $140,000 in Funding from Aeternity Starfleet Incubator
Humaniq Wins Online Vote for Blockchain Economic Impact, Beating Competition from Hundreds of Startups
Bitcoin Loophole – Another Crypto Scam to Avoid
5 Ways to Earn Free Bitcoin Cash (BCH)
Top 5 Best Bitcoin Apps That Enable You To Earn Cryptocurrency
“Bitcoin Gold Wants to Bring Mining Back to the People as per Satoshi’s Original Vision” – An Interview with BTG’s Community Manager for Africa
What is Particl and Why Should You Know About It? – An Interview with “Crypto Ramble”
Press Releases9 months ago
Humaniq Doubles Number of Nations Where it Brings Global Unbanked Better Options
Altcoins1 year ago
Humaniq Global Challenge Winners Go To Kenya
Altcoins1 year ago
Humaniq Brings Financial Inclusion to Five More Countries in Africa
Press Releases12 months ago
Humaniq wants YOU for Hack.Summit (Blockchain)
Bitcoin1 year ago
Kenyans Are Among Highest Bitcoin Holders Per Capita According to Citi Report
Bitcoin1 year ago
Meet Africa’s Youngest Blockchain Entrepreneur: Token Media’s Elisha Owusu Akyaw
Altcoins1 year ago
5 Ways to Earn Passive Income with Cryptocurrencies
Blockchain Technology1 year ago
Nigerian Blockchain Startup SureRemit Raises $7 Million in Biggest African ICO To Date