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Kioneki Profile picture
@pesa_africa
Nov 22, 2017 • 63 tweets • 9 min read • Read on X
Mega Thread:

Kenya Bitcoin Fraud Case at Nairobi's Milimani Court

Police Case No. 113/205/2017
On the morning of Friday 17, November '17 Emma visited Equity Bank to inquire why her bank account reflected a negative balance 1/

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More from @pesa_africa

Kioneki Profile picture
Jun 2, 2023
The Central Bank of Kenya 🇰🇪 @CBKKenya says

"Implementation of a Central Bank Digital Currency (CBDC) may not be a compelling priority in the short to medium term" /1
In addition

"Kenya's pain points in payments could potentially continue to be addressed by other innovative solutions around the existing ecosystem" /2
This was obvious from the beginning. Kenya 🇰🇪 has sufficient payment systems, available on cards and mobile phones both feature and smartphones. All regulated by the central bank.

No need for a *retail* CBDC here. I am glad this issue has been laid to rest. /3
Read 12 tweets
Kioneki Profile picture
Jul 4, 2022
Some thoughts on the effect of the sweeping tide of digital currencies on economies of East Africa from my current research ...
The East African community member states are at risk of dollarization from

- digital currencies issued by sovereign states eg dollar stablecoins, Digital Yuan, Digital Euros

- non-sovereign digital currencies like bitcoin
Dollarization refers to the process of adopting a foreign currency (typically but, confusingly, not always, the U.S. dollar) in lieu of a local sovereign currency. It happens both in an informal, bottom-up way and a top-down manner
Read 13 tweets
Kioneki Profile picture
May 30, 2022
In my experience there are 3 broad mindsets that require interventions in order order to develop and accelerate crypto/web3 in key African markets.

- learner mindsets
- builder mindsets
- investor mindsets
a learner mindset is walking into crypto & trying to make sense of it. Can be a student/professional banker/ a policy maker.

This state is transitory, b/c the initial mindset may be learning but the end goal may be to invest or build (an app or policy) or invest (in crypto)
a builder mindset wants to create something out of crypto - build an app, a community / creators who want to manifest crypto creations / policy makers who want to craft frameworks.

sometimes people learn > in order to build. Hence mindsets are transitory states
Read 12 tweets
Kioneki Profile picture
Mar 20, 2022
Some advice to crypto companies trying to grow markets in Kenya and East Africa 🌍, there is no winning if your approach is just selling crypto for your own business pipelin agenda.

What is required is a neutral, ecosystem building approach. A neutral brand.
I am happy to support ecosystem building/ accelerating initiatives.

But if you asking me to add value to your business agenda - that's a wholly different conversation
After spending 5 years accelerating crypto ecosystem in Kenya and East Africa by 1000% I was disappointed by the selfish ways of many whom I met and interacted with. Many want the benefits of public investments w/out contributing to the public good resources
Read 13 tweets
Kioneki Profile picture
Mar 18, 2022
This week my African crypto / fintech people are in Dubai. My guess is they all probably exploring Middle East to Africa corridor financial outflows (remittances), inflows (e-commerce) and crypto licenses in Dubai 1/
1) Lots of Africans working in Middle East send money back home to family

2) Lots of African merchandise purchased from Middle East to resell / final use

3) Dubai is positioning itself as home to crypto ventures (and startups too)

Did i miss anything else? /2
Context

Chipper Cash
Eversend
Lazor pay
.... plenty more /3

Read 4 tweets
Kioneki Profile picture
Mar 6, 2022
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.
Read 23 tweets

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