Sarafu Credit
= "in partnership with blockchain-startup Bancor, Kenyan vendors have been signing up to accept cryptocurrency versions of these community currencies".
Description
Aaron Fernando:
"As a country, Kenya has been one of the fastest countries in the world to wholeheartedly embrace mobile money and mobile payments, with two-thirds of the population using it on a daily basis. So, not surprisingly, it is also among the first countries where blockchain-enabled community currencies are being used by merchants who might otherwise be too cash-strapped to transact with each other. The organization Grassroots Economics has been operating multiple community currencies in Kenya and and South Africa for the past few years to increase the buying and selling power of various communities. Recently, in partnership with blockchain-startup Bancor, Kenyan vendors have been signing up to accept cryptocurrency versions of these community currencies which they already accept in paper form." (https://www.shareable.net/blog/10-blockchain-projects-to-keep-an-eye-on)
More information
- Chamapesa: "Another Kenya-based project making use of Kenyans' high rates of adoption in mobile banking is Chamapesa, which is using blockchain technology to facilitate lending circles with smartphones. The organization has pointed out that it is not trying to change any core behavior, but rather is using blockchain to facilitate this type of community finance scheme — in one tweet, it said "We're not changing Chamas behaviour except that instead of using paper books were going to be using smart phones."