The public has raised about the predatory practices of the unregulated Digital Service Providers.Among the complaints include high payback cost, unethical debt collection...
To increase crypto awareness in Africa, various companies and countries have established several Web3 education programs in Kenya
EthSafari, an Ethereum-sponsored event, is...
Crypto adoption and usage have remained on the rise as Kenyan investors explore new ways to preserve their wealth and carry out international transactions for individual remittances and commercial purposes, including importing goods.
Crypto experts have touted the payment of imports through digital currency as quick and convenient. People do not have to buy dollars using Kenya shilling or transfer money to cash transfer firms. Nevertheless, Kenyans, mainly the youth, have previously lost their hard-earned millions in crypto scams due to a lack of regulation in the sector.
Kenya's record within Africa's cryptocurrency has increased significantly over the years. Firms such as LocalBitcoins have adequately contributed to the rate of peer-to-peer...
The introduction of CBDCs would have far-reaching consequences for decades for households, businesses, and the monetary system. If successful, CBDCs will usher in a new era of money. Nonetheless, it is still early days. It is still hard to tell.
No generally applicable best practices or standards will ensure CBDC issuance’s eventual success. On the other hand, a maturity evaluation might help the CBK make decisions on CBDCs. This position informed the CBK’s decision to seek feedback from the public on the applicability of a CBDC in February 2022.
401(k)s can include bitcoin in retirement portfolios without breaching their fiduciary duty
Fiduciary duty is an inalienable right that fund managers owe to...
The new administration under Kenya’s fifth president, William Samoei Ruto, has taken over in the midst of a global digital revolution. Globally, technologies such as the metaverse and crypto are slowly but steadily taking root.
Kenya has not been left behind in the growth and development of technology. East Africa’s most prosperous economy stands tall within the fourth industrial revolution and web3. Kenya stands tall as a global leader in P2P cryptocurrency transactions in matters of the crypto ecosystem.
However, a lot needs to be done, and the new administration has enough space to execute its plan regarding advancing the Kenyan digital space and the place of blockchain, web3, and crypto.
The four million Kenyans who have been affected by the crash are mainly young and small and medium traders. The youth have, in recent years, stormed into cryptocurrencies hoping to get quick returns, despite warnings from the Central Bank of Kenya about the emerging digital markets.
