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Michael Kimani @pesa_africa
, 3 tweets, 1 min read Read on Twitter
In an ideal world

All Kenya SACCOs, cooperatives and unions would run as an app on a SIM card menu

This cant happen today because all SIM cards are owned by someone else (a gate keeper) 1/
/2
In a parallel universe, the SIM card and cellular network are replaced by open networks on the internet with same private key security model ( a blockchain?)

Then SACCOs and Cooperatives and Unions and Chamas pretty much run as Dapps on this hypothetical blockchain /3
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Looking at Kenya's Capital market transition from paper share certificates to > immobilized electronic record form to > de-materialized form housed by the Central Depository Service Corporation (CDSC) has some lesson for transition physical records and assets to blockchain 1/
First here is a list of Financial Intermediaries in Kenya's Capital Markets /2
Second, here is a list of participants involved in the Clearance and Settlement of Securities in Kenya 3/
Read 20 tweets
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People forget that the next generation of mama mbogas and boda boda people and taxi drivers and the whole of informal sector will be educated upto college/university level.

They'll be digital natives.
They'll be exposed to global trends 1/
The early signs of this shift are evident now

Young graduates leaving school and straight into informal sector

Formal employees quitting 9-5 jobs to go into biashara

For example Met a lady who quit her job to sell bags from mitumba via social media. 2/
In the near future matatu touts will be educated, on the same platforms as everyone else (fb, whatsapp, mobile phone, mpesa, Instagram)

Nairobi's street hawkers will be educated too and on the same platforms as you and I

Why does this matter ? /3
Read 15 tweets
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Here is a useful stack to think about blockchain/DLT/ "whatever you want to call it"

layer 1 - 4 : all the technical stuff for devs
layer 5: governance
layer 6 & 7 : what average person calls "use cases"

source: Financial Cryptography in 7 Layers by Ian Grigg 1998 1/
Right no, a lot of the activity is at the bottom layers 1 - 4

these are the chain wars POW vs POS vs DPOS vs "whatever else"
these are the "private" vs "public" / permissioned vs permissionless
these are the Bitcoin vs Bitcoin cash/ Ethereum vs EOS

technical jargon area 2/
Right now layer 5 is becoming a hot topic

How do we resolve issues that have nothing to do with logic? eg threat of theft or abuse exists from parties who are trusted to manage the system.? This problem can be overcome with a wide variety of techniques ie governance /3
Read 7 tweets

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