thoughts about pesa and the people of East Africa. From cryptocurrencies to cash and everything in between.
Could Kenya’s cryptocurrency peer to peer networks become agents or exchange points in a future where digital currencies and crypto assets are commonplace ?
The lack of an official or formal bitcoin payment gateway has done little to dampen the adoption rate of cryptocurrencies in Kenya. Quite the opposite in fact. People have adapted to this service gap by forming peer-to-peer networks where anyone can buy or sell cryptocurrency. These informal networks, resemble the airtime currency informal networks of pre-2006, that powered remittance payment networks before Mpesa became a thing.
Let me explain.
How many of us think deeply about the pesa we use everyday? Here are 9 lenses we can look through to analyze all the pesa we use in Kenya today.
How many of us think deeply about the pesa we use everyday? In my experience, only a handful of us are conscious of the nuances of our day to day pesa. Yet, Kenya has one of the most colourful pesa diversity in the world. Bangla pesa, bonga points, Mpesa, Chama Pesa, Bitcoin, Cash and airtime are all part of Kenya’s money montage.
Here are 9 lenses we can look through to analyze all the pesa we use in Kenya today.
