The use of blockchain technology in the Kenyan market is on the right course following the completion of a report proposed by ICT cabinet secretary Joe Mucheru.
The Kenya Blockchain Taskforce Report will be handed to Mr Mucheru before being released to the public, said Michael Onyango during the Introduction to Blockchain Development – Anonymity and its Identity event by Belfrics Academy, a subsidiary of Belfrics Kenya, held at JKUAT.
“We’ve actually asked for an appointment with the CS so we can hand over the report to him so he can release it to the public,” he said.
Mr Onyango is a member of the Blockchain and Al Taskforce which was instituted in February 2018 to explore the use of distributed ledger technology and artificial intelligence for development in Kenya.
The 192 page report looked at various fields where the blockchain technology can be applied in line with the government’s Big Four agenda.
“As a taskforce, we had about 150 presentations and finally ended up having about 90 people who came and saw us including international presentations,” added Mr Onyango.
Previously, the 11-member task force had recommended the creation of a central bank digital currency that is traceable.
This announcement comes at a time when International Monetary Fund’s Christine Lagarde has implored central banks to consider issuing digital currencies.
“The use of cryptocurrency will offer immediate, safe, cheap, and potentially semi-anonymous transactions, she said at the Singapore Fintech Festival after the release of an IMF paper titled Winds of Change: The Case for New Digital Currency.