Kioneki Profile picture
Mar 6 23 tweets 4 min read
I wish more people realized the current political crisis of digital currency is only the beginning of a multi-year trend of technology fragmentation based on political ideals.

Right now it's digital currency.
Next year it will technology platforms like Facebook and Android
I am most excited by the implications for Africa b/c Africa 🌍 is a net consumer of technology.

This means Africa is best placed to adopt a diversity of technology/ digital currency with allegiance to no one.
Especially decentralized tech like crypto, Bitcoin, p2p.
Governments, Central Banks, cartels in African nations have no choice but to accept and play the trend OR turn ape shit authoritarian.
The continent of Africa 🌍 is 1 massive market of millions of digital currency arbitrageurs on smartphones.
For me, if you are building for Africa 🌍 you have to pick a side

Either build for the (oppressed) people OR sell out and build for authoritarians. There is no in between.
We are at a critical juncture in Africa's (digital) history, where we (as teachers and venture builders) hold the key to change the course of history by enabling our people to resist status quo.

African Governments and central banks should be worried.
The classic example today of how African Central Banks have already lost is p2p Bitcoin / crypto trading.

Central Bankers already lost, they just don't know it yet.
Ask yourself, who are you building for?

The people? Or the oppressors?

True leaders are forged in times of crisis.
🎶
A common misconception cof the current crop of African focussed technology entrepreneurs (especially crypto/web3 bros) as builders is misguided where in fact they are modern day rebels dressed up as builders.
China Leads Africa's Digital Currency Race

With years of public investment and plenty of penetration for its phone makers, China is well placed to establish a digital currency in Africa

coindesk.com/policy/2021/02…
Battleground

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More from @pesa_africa

Feb 13
There are several ways to think about Cross border payments in context of Africa 🌍

1) Between African countries
2) Between Africa and off shore countries
3) Between Africa and the virtual world
It is my opinion that 3) cannot be addressed by African local currencies. Only foreign currencies like USD stablecoins or cryptocurrencies
It is my opinion that 2) cannot be addressed by African local currencies. Only foreign currencies like USD EUR or RMB or GBP can work here.

Cryptocurrencies can also play a role here
Read 38 tweets
Feb 11
Today I purchased a newspaper for the first time in 5 years to read about the @CBKKenya plans to issue Kenya shillings backed Central Bank digital currency

ICYMI ⬇️
Call me a cynic, but, I don't see the point of a CBDC for a country with real time payments (mobile money and bank payments)
Also I'm wondering how an account with the Central Bank versus an account with a commercial bank makes a difference when both are plagued with inflation risks (of the KES) and even worse, heightened surveillance risk.
Read 23 tweets
Feb 8
A quick test on hiring for early stage start-ups is to ask potential hires to put together a half-page work plan to manage a defined project.

Work plan has

- Date
- Task/actionable
- Status (complete, ongoing)
- Outcome
If you cannot communicate a projects, (any project for that matter) in this fashion you are too much work to manage / you require handholding / not cut out for startups

😐
If you cannot communicate (anything) in

- 1 page
- double spaced
- Arial 12
- 275 words or less.

You are not cut out for startups.

😐
Read 5 tweets
Dec 12, 2021
⚡️Crypto regulations are coming to key African markets THREAD

⬇️ What follows explains why I expect a shift in balance in crypto transactions - from decentralized 🔜 centralized - backed by findings
❌ In the past 5 - 7 years, banking and mobile money gateway restrictions stifled certain crypto business models at the benefit of others
🚀 P2p emerged the winner, reaping all the benefits of Central Bank sanctions. Volumes for Africa moved to Paxful, localbitcoins, binance p2p and others as a gateway into bitcoin and stablecoins.
Read 22 tweets
Dec 11, 2021
💯 A great source for crypto African products / features from @TheDFSLab ‘s blockchain bootcamp cohort 1

🤩 Here is a short list of my favorite picks and why

medium.com/dfs-lab/result…
@joinstax - offline crypto and DeFi / crypto assets on USSD with SIM card security (key pairs like native crypto)

@bmlyon you have a great foundation for crypto !
✅ Bonafide a wallet that lets you save and win prizes weekly in dollars

Great spin on fintech savings/investments/yield products. weaving games and fun/ social with financial instruments. Crypto natively enables fun programming

A great add to African consumer fintech
Read 7 tweets
Oct 24, 2021
What's next in web 3?
Africa 🌍

Africa was never part of all the technology narratives that shaped the web & internet pre-Android & smartphones

That's about to change now that Africans too are part of the web.

Web3 has a place for Africa to participate and shape the future
Imagine all the bias built into the web & internet infrastructure b/c Africans were never co-participants in designing the web?
An example is online wallet like PayPal versus Mpesa prepaid mobile wallet

African users often report frozen funds when receiving $1000 via Paypal yet in Kenya, Mpesa users can send and receive upto $3000 per day

Read 7 tweets

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