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Creating bridges between Kenya and the Blockchain Economy by coinatory

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· @coinatory ·
Creating bridges between Kenya and the Blockchain Economy
<center></center> <br/><p>One of the main objectives of this project is to integrate the unbanked population into conventional finance, taking advantage of new technologies, especially the <a href="">Blockchain</a>. This offers the possibility of decentralized finance (DeFi: Decentralized Finance), and even more so if you take into account the mass adoption of mobile money in Kenya.</p>
<p>This scenario is beneficial for both those who have banks and those who
do not. Features such as convenience, speed and low transaction fees also
attract more and more, those that are banked.</p>
<p>On the other hand, it is known that despite the numerous potential
benefits of Blockchain technologies for the developing world, sub-Saharan
Africa still lags in the adoption of cryptocurrencies. But if this progresses,
stable currencies could provide distressed communities with access to capital,
liquidity and the gateway to global markets.</p>
<p><strong>What are the underlying problems and challenges?</strong><strong></strong></p>
<ol><li>Lack of dedicated
crypto markets. Cryptocurrency exchanges, today, do not provide a direct
mechanism to enter and exit the markets in the Kenyan Shilling quickly.</li><li>Cryptocurrency
Volatility Despite the growing interest of Kenyan merchants to adopt the
blockchain, most are still sceptical about the possible loss of value due to
the price volatility associated with cryptocurrencies.</li><li>Regulatory
uncertainty The Central Bank of Kenya has hesitated to recognize cryptocurrencies
as legal tender, mainly due to its anonymous nature. The institution has
advised, again and again to the general public, not to negotiate with
cryptocurrencies, which further inhibits adoption.</li></ol>
<p><strong>The TokenPesa solution for Kenya and the world</strong><strong></strong></p>
<p>Decentralized finance (DeFi: Decentralized Finance) encompasses a wide
range of categories: from stable currencies, insurance and prediction markets,
to decentralized exchanges. But fortunately, DeFi projects can be composed
together, to form higher-order entities.</p>
<p>And this is where the TokenPesa comes into play, which is a triple
solution of Decentralized Finance, which aims to boost the adoption of
Blockchain technology in Kenya and potentially divert the development of
saturated economies to the developing world.<br>
Then we can say that this project aims and embarks on this to create
bridges of mutual growth where a solution can be found that integrates a stable
federated currency of the Kenyan Shilling with a decentralized network of asset
management and exchange, to allow a vibrant Kenya blockchain ecosystem.</p>
<p><strong>TokenPesa Reach</strong><strong></strong></p>
<p>In essence, the TokenPesa network consists of:</p>
<p><strong>1) Wrapped KSH *</strong>: An asset-backed
token (stablecoin) that is linked 1: 1 to the value of the Kenyan Shilling<br>
TokenPesa DAO *: Asset Management and Asset Management of Decentralized
and Autonomous Token Wrapped KSH<br>
PesaDEX *: A decentralized digital asset exchange network (DEX) that
exchanges Wrapped KSH for multiple ERC20 tokens, for example (WKSH-HOT)</p>
<p>Wrapped KHS (WKSH) is an ERC20 token on Ethereum backed 1: 1 by Kenya
Shilling. The WKSH follows the framework of wrapped tokens, but instead of
relying on multiple custodians, it is based on a single network custodian and a
consortium of agents. WKSH uses a simple federated government model and strives
to promote usability.</p>
<p>This brings liquidity (the main bridge between the fiat KSH and the
world of cryptocurrencies), faster transaction (accelerates the Kenyan Shilling
transactions), transparency (fully verifiable mining, recording and transfer
events in Ethereum public scouts), fees lower (transactions can be made with
rates close to ZERO blockchain and federal government<br>
(All agents in the network will be members of TokenPesa DAO
(Decentralized Autonomous Organization).</p>
<p><strong>2) TokenPesa DAO</strong> is a strong and
scalable Decentralized Autonomous Organization, based on the DAOstack operating
system. TokenPesa DAO Token (TDAT) is the native DAO token, while the TDAT
reputation is the DAO reputation/voting points.<br>
All DAO members will be holders of the TDAT reputation. Reputation
points are non-transferable assets that represent the influence (voting power)
that one has on the DAO. However, unlike the native token that cannot be
removed from its owner, the reputation can be removed if its holder acts
against the interests of DAO.</p>
<p><strong>3) PesaDEX</strong> is a hybrid
decentralized exchange, based on the Hydro Protocol. The WKSH will be used as
the base token in PesaDEX trading pairs, for example (WKSH-WETH, WKSH-TDAT,
WKSH-HOT); thus providing a liquidity gateway to and from multiple ERC20
<p>PesaDEX does not retain funds or customer information and only serves
as a secure layer of order routing and correspondence. Unlike traditional DEXs,
Hydro allows the development of decentralized exchanges that are immune to
order collisions and frontal attacks.</p>
<p>Other advantages include:</p>
<ol><li>A fast and robust
order matching algorithm</li><li>Asymmetric rate
structures. Trading fees are charged through the base token, WKSH</li><li>Market makers get
refunds from manufacturers for providing liquidity</li><li>Free order
cancellation</li><li>Share hybrid liquidity</li></ol>
<p>The stable-coin of the TokenPesa Network, decentralized exchange and
asset management is simple and mutually beneficial.</p>
<p>Stablecoin allows DEX to provide more intuitive trading pairs and
improve liquidity. In return, the DEX provides arbitration and settlement
mechanisms, critical processes to keep the currency stable.</p>
<p>Besides, the inherent price stability of the stable currency allows for
a consistent decentralized asset management market; while the DEX provides
multiple entry points to the ecosystem.</p>
<p>In this way, the best and most reliable growth of an emerging economy
could be helped.</p>
<p><strong>Official links:</strong><strong></strong></p>
 <br /><center><hr/><em>Posted from my blog with <a href=''>SteemPress</a> : </em><hr/></center> 
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@abrish ·
What a wonderfull innovation is that. You know, despite great economic potential of cryptocurrencies, as you said Africa lags far behind the benefits and opportunities of today’s digital economy.
But I think Kenya is well developed as compared to other sub-Saharan countries and in a better position easily understand and adopt new technologies like cryptocurrency. I really appreciate you Kenyan. You are one step ahead of other east African countries. You are always first mover.
I also share the idea which you have stated in your post as main challenges and problems. It is also a problem in my country, Ethiopia. Frankly speaking, I want to learn from you and share ideas with you and other Kenyan crypto community like you. I want to build network with you. Followed
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@coinatory ·
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