Apparently Safaricom has quietly collapsed its innovation unit Safaricom Alpha back into the mainstream company and a good number of the team has already departed
Alpha was struggling to build a payments integrated messenger app 😆/n
Safaricom alpha was trying to innovate a new product for its mother company Safaricom
The product was a messaging app, Bonga chat, integrated with Mpesa so you could send messages and money (think Venmo, Wechat) /1
“one of the innovation center’s first products “as a messenger solution with full payment integration to better support the kind of social patterns that our customers are already using informally.” techcrunch.com/2017/10/18/saf… /3
"Fully 38% of smallholder farmers are youth aged 16-34 years, according to a Comparative Analysis of Smallholder Farmers in Kenya, Zambia, and Tanzania conducted by AFA with Nathan Associates." 1/
"Young people are technologically engaged, but they need help migrating from the subsistence-style farming of their parents to a more productive approach to farming as a business." /2
"The review showed that young farmers face tighter time constraints than older adults and have greater difficulty accessing land, financing, practical skills, markets, inputs, and input-specific extension services." /3
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/
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
The Kenyan Tax Authority now wants to track individual mobile money and bank transactions in an effort to raise more tax from as many people as possible. kenyans.co.ke/news/33631-kra…
"Kenya Revenue Authority (KRA) plans to acquire Kenyans' financial data in order to try and match the amount and volume of bank transactions to their respective holder’s profession such as doctors, teachers and even informal sector players like transport Industry and suppliers."
"According to the Authority, only 4 million people in a country of 18 million eligible voters regularly pay taxes and so they are seeking to raise Ksh 60 billion from an additional 0.5 million Kenyans."
Money is a relationship between people masquerading as a relationship between things -Marx
"On the 30th of December 1919, Colonel Amery, the British Acting Secretary of State for the Colonies, approved the establishment of the East African Currency Board (EACB)"
"Yet the EACB, attempting to replace the Indian rupee as the currency in use in the colonial East African territories, originated in crisis and went on to preside over considerable
chaos in markedly inauspicious circumstances."
"Vinay worked on starting the smart contract court system called Mattereum, which creates smart contracts with the legal force of natural language contracts. Mattereum is a crypto court that will function as commercial arbitrator in a company dispute. "
"For the future, Vinay thinks there will be a very strong regulation regarding anonymous currencies and the tokenization of new classes of property rights."
"There is no single person in existence who had a problem they wanted to solve, discovered that an available blockchain solution was the best way to solve it, and therefore became a blockchain enthusiast."
"The next use case for blockchains could be serving as the backbone for a decentralized consumer trust network."
"Today, banks do a very simple low-information version of this already. They aggregate the trust of depositors, and then make loans out on their behalf.
But a peer-to-peer system of trust could be far more efficient than the traditional banking system."
"Imagine a platform on which you had hundreds of people who trusted you financially, and in return trusted hundreds of other people (and each of those people had hundreds of their own relationships). It would change how you measure credit, extend loans, borrow money, etc."