The second Edition of Kenya Blockchain and Crypto Conference (KBCC) 2024 Kicked off today and highlighted the need to shape the Africa’s economic landscape through innovation of impactful blockchain projects.
The Conference saw the attendance of
Various industry stakeholders like; Global BlockChain Business Council (GBBC), KBBC, Kotani Pay, Little Cabs and other stakeholders.
During the conference, critical ideas were discussed including, Policy development,
Contribution to the creation of forward-thinking policies that will shape the future of Kenya’s digital asset landscape, Well-formulated policies that will support the growth of the digital asset industry in Kenya, Increased awareness and understanding of the potential of digital assets to drive economic growth, stronger position for Kenya as a leader in the African blockchain and crypto space.
“Kotani Pay is here to make sending money simpler, faster, and more secure than ever before,Gone are the days of complex and costly remittance processes with innovative approach involving converting your money into stablecoins. We are a blockchain startup that operates in four African countries.
I think the focus areas of the various panels today are very timely, because we have issues to do with regulation, we have issues to do with taxation and issues to do with stability.
There are people from the public sector here, lawyers, people from various regulatory bodies here as well, KRA, CBK and others.
Regarding regulations the draft bill has already been tabled in Parliament and it’s only a matter of public participation and preparing for the various readings.
There’s a mandate that has also been given to the National Treasury to set up a multi-agency task force focused on matters of digital assets.
The thing about the blockchain space is it’s a very wide ranging space and it usually requires some personal research on the part of the consumer or the customer.” Said Felix Masharia Co-Founder and CEO Kotani Pay.
The digital asset landscape in Africa is a complex and evolving landscape, presenting both opportunities and challenges for all involved. The Kenya Blockchain and Crypto Conference (KBCC) 2024 is dedicated to addressing these complexities and fostering crucial discussions that will shape the future of blockchain regulation in Africa.
As part of this commitment, we’re excited to introduce the Virtual Assets Strategic Policy (VASP) Hackathon, an initiative designed to position Kenya as a leading digital asset hub in Africa. The VASP Hackathon is an integral part of the Kenya Blockchain and Crypto Conference.
John Walubengo who is tech policy thought leader and has over 20 years experience in ICT sector observed that, there are cases of scams in Blockchain and the Government should come in place to put parameters or regulations around the Blockchain Space and virtual assets are more than just financial.
“When you say you want to float a token or you want to tokenize an apartment, you know, we’ve heard about real estate tokenization. There’s a lot of opportunities around that space. We have standards. We audit white papers. We audit the codes that have developed because I’ll give you an example of exit scams or ragpulls. Ragpulls are scams that are designed by nature to fleece or take your funds after a specific duration. So basically what the coder or the fund of that particular.” Said Edwin Sikini Blockchain, Wallets, Vaults. Secretary-Security and Bank Fraud Sub-Committee at Kenya Bankers Association.
GBBC is a leading advocate for the responsible adoption of blockchain technology, working with regulators, businesses, and changemakers worldwide. With over 500 institutional members and 300+ Ambassadors in 117 jurisdictions, GBBC fosters collaboration and dialogue across borders and disciplines. GBBC leads multiple initiatives focused on blockchain standards, financial services, legal frameworks, social impact and more.
