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Kenya to set up blockchain taskforce

Kenya to set up blockchain taskforce

Kenya's Ministry of ICT plans to establish a taskforce to drive the use of blockchain and Internet of Things (IOT) technology.

Speaking at the Africa's Digital Symposium at Strathmore College, President Uhuru Kenyatta said that technology will be an enabler of his second term agenda to tackle job creation, affordable housing, food security and universal health.

"We need to better understand the opportunities for blockchain technology, the risks of cybersecurity and the essential education and skills that our young people will need to make new technology work for them," the President said.

He added , "To this end, the Ministry of ICT will set up a taskforce on blockchain and Internet of Things technology – because, as a country, we cannot let these opportunities pass us by."

Uhuru also said the country's economy had benefitted from digitisation. "As a matter of fact, the internet and associated digital trade of goods and services have led up to ten percent rise in employment in Africa."

"M-Pesa , M-Kopa, GroIntelligence, Andela and others, show that we can lead the world with innovations that drive financial inclusion, access to energy, better data to drive our agriculture, and the essential skills required to support the young innovators of the future," he said.

In January this year, the Cabinet Secretary for ICT Joe Mucheru affirmed the government's intention to set up a taskforce on blockchain.

He said that his ministry had already received applications from interested parties who sought inclusion into the discussions.

Meanwhile the Central Bank of Kenya and the Capital Markets Authority (CMA) have warned the public to be wary of crytpocurrencies and blockchain technologies.

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