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Michael Kimani @pesa_africa
, 6 tweets, 1 min read Read on Twitter
This is an interesting story.

I have 2 thoughts to share about this
1 is regarding the need to ask for permission to use new technology

"Permission" is at odds with the whole point of what's supposed to be disruptive technology

While banks might have to ask for permission

Fintechs and entrepreneurs dont have to.
We have enough permissionless blockchains available that are free and open to use.

Permissioned distributed ledgers
Permissionless distributed ledgers

Which would you rather use?
2 is about this comment by the central bank

"The central bank also said it does not recognize cryptocurrencies, which it said are “associated with anonymity, and commonly used by criminals.”

This comment belongs in the trash bin and bitcoin obituary section
Im pretty confident bitcoin and Cryptocurrencies will be mainstream.

No doubt.
This is closer to the type of hybrid blockchain Kenyan banks might be interested in

Governed blockchain
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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

Related threads

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001/ [article content in this tweet series 001-180 reproduced with permission from Martin Howe QC of Lawyers for Britain @lawyers4britain]
#quote "Leaving the EU on WTO terms: pulling down the barriers to world trade
Introduction: why prices will FALL after Brexit, not rise" /002
002/ #quote "Over the past couple of weeks, the media have been full of lurid scare stories about what will happen if the UK leaves the EU on WTO terms, because negotiations with the EU do not result in a withdrawal agreement." /003
#tariffs #NoDeal #Brexit #WTO #ProjectFear #shortages #food #medicines
003/ #quote "One of the most ridiculous and UNJUSTIFIED of these absurd scare stories is that it will lead to higher prices, and even shortages, of foods and medicines." /004
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'Equality and the fraternity' by Heather Marsh (thread) #BindingChaos #Anonymous georgiebc.wordpress.com/2013/11/12/equ…
Equality for all has been held up as one of the fundamental truisms and virtues of just governance since the widespread rejection of Patriarcha and the divine right to rule. /1
This concept was conflated after French & US revolutions to imply all had equal ability to survive in a trade economy. /2
Read 43 tweets
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@hotgazpacho @SwiftOnSecurity I spend a lot of time with startups. We tell them all that Excel is your worst competitor. Everyone already has it (no new cost), they kind of know how to use it (no onboarding) and it’s very reliable (in general startup software is not). It’s a startup killer.
@hotgazpacho @SwiftOnSecurity As it turns out, you mostly create the quotes and bids for those contracts with pen and paper, maybe Excel and some Word. They look like shit when they go to the client. And we are talking massive bids - they get delivered looking like they were a high school project.
@hotgazpacho @SwiftOnSecurity And it is an incredibly resource intensive business. The number of hours of cleaners, across all your properties is incredibly difficult to track and determine margin, profit etc. And supplies run out b/c there is no central place for cleaners to order more or advise of problems
Read 9 tweets
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I have learnt a lot about blockchain through some of the hidden gems in the following quotes.

I hope this blockchain quotes change your perspective, mindset towards blockchain.

I hope it changes your life.

Kindly RT after reading, someone in your handle might need this.

👇
1- 1-"The invention of bitcoin, the technology that makes it possible, cannot be uninvented. It creates the possibilities for decentralized organization on a scale never before seen on this planet." @aantonop
2- Crypto is stealing from the talent pools of Wall Street institutions, large tech companies, and top tier founders. The industry has too much money, much excitement, & too strong of a belief in freedom - the incumbents don't stand a chance in retaining their talent. @APompliano
Read 38 tweets
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0s and 1s commonly create speech that courts use -- that means precedence is set. #Code is speech -- they're languages made of bits! Point being, ISPs shouldn't be allowed to deny computer speech from being seen by others. #NetNeutrality

Evidence in thread:
#NetNeutrality Evidence case 1: Bradley v. State: @Facebook evidence used to ID assailants and other witnesses. Its compelling because translated bits were used to ID people. It proves third party intermediary bits translated into media are used by courts. scholar.google.com/scholar_case?c…
#SaveNetNeutrality Evidence case 2: Homeland Security v. Twitter: @DHSgov seized data that was digitized and sent to intermediary @Twitter. Twitter sued its an ongoing investigation. Regardless, It appears consumer's translated bits were treated as speech? clearinghouse.net/detail.php?id=…
Read 11 tweets
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Great job this morning by @NateWessler, arguing in the Supreme Court to make sure we don’t have to sacrifice our privacy to use new technology.

A few thoughts on the argument:
Chief Justice Roberts may have set himself up to extend his Riley decision to cellular location data. Justice Alito argued many times that Carpenter is indistinguishable from Smith and Miller. 1/
Alito seemed unpersuaded that location data is any more sensitive than the call records from Smith. And he speculated that many people understand they volunteer their location data to the telecoms. Justice Kennedy said the same. 2/
Read 8 tweets

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