Crypto in Africa: Launch of rand to BTC trading and fraud alerts hits SA

Crypto in Africa: Kenya’s electoral body seeks to adopt blockchain

Blockchain is still in play as countries use its technology to solve major issues in Africa. In 2017, Ghana used the technology to create a land registration system that allows registration and allocation of lands. This system has helped solve major land disputes that have been going on for years. Kenya is also looking into this technology to help solve electoral issues in the country.

Electoral body in Kenya to use blockchain technology

The Kenyan Independent Elections and Boundaries Commission (IEBC) is turning to blockchain for a better election experience. Reports indicate that the electoral body is looking for a solution that will bring to an end election disputes in the country.

IEBC is undertaking electoral reforms in preparation of Kenyan’s next elections in 2022. According to IEBC chairperson Wafula Chebukati, the country is considering the use of the blockchain to help provide real-time results. In his statement, he stated that the technology would be used to enable candidates in elections to access results.

The electoral body wants the new reforms to avoid the political turmoil that was seen in the country in the last general elections. IEBC believes blockchain will provide the much-needed solution in creating a good political environment.

This comes a year after the country’s last general election was held. Kenya had to go through a re-election process after the opposition leader, Raila Odinga, disputed results announced by the IEBC. By creating a transparent and secure environment, Kenya will no longer have to spend millions in re-elections or handle disputes between electoral participants.

Since the creation of a multi-party system in 1991, elections have been quite a sensitive matter in the country. Kenyan elections have always been associated with rigging and irregularities, and a lack of trust in the election system led to violence in the country in 2007.

To prevent previous events from reoccurring, the electoral body has decided to make use of the blockchain in the upcoming election. IEBC hopes that this new direction will shine a light on the electoral process in Kenya.

In addition to using the blockchain for the electoral process, Kenya’s president, Uhuru Kenyatta, recently launched a blockchain and artificial intelligence (AI) task force. According to reports, the task force is tasked with the mandate of deploying blockchain technologies within the country. The task force is comprised of 11 members that are supposed to create a roadmap that will be used for the next 15 years to help eliminate corruption and other vices in the country.

The Kenyan Parliament also tasked the cabinet secretary of finance with the responsibility of conducting research on Bitcoin adoption in the country. This is aimed at analyzing the country’s position in regards to blockchain and its technologies in order to set up the necessary regulation. The Parliament has yet to deliberate on the matter.

Currently, some chamaas in Kenya are using blockchain in record keeping and transactions. Different partnerships, like the one between Twiga Foods and IBM that provides microcredit loans to retailers, have helped spread blockchain usage and its technologies within the country.

Virtual crypto expands to South Africa

Virtual Crypto Technologies is making arrangements to expand into the cryptocurrency market In South Africa. The Israeli-based company develops software and hardware for the purchase and sale of cryptocurrencies via point-of-sales systems like ARMS (Advanced Retail Management Systems), PCs, and tablets. Virtual Crypto has signed a licensing agreement with another company, Virtual Crypto SA, to bring blockchain to South Africa.

The company plans to target cryptocurrency markets not only in South Africa, but also in Namibia, Botswana, and 13 other countries. According to a press release issued by the company, South Africa has great potential for blockchain and its technologies.

Virtual Crytpo recently finished the development of its fourth crypto solution for the B2B and B2C marketplaces. According to Alon Dayan, the CEO of Virtual Crypto, due to an increase in cryptocurrency popularity, the country provides the best marketplace to set up Virtual Crypto solutions. He added that the company decided to set up in South Africa as a result of a stable cryptocurrency market in the region.

The cryptocurrency market in South Africa keeps inviting new players. A few months ago, Golix, the largest cryptocurrency exchange in Zimbabwe, expanded its operations into South Africa.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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