Kenya is finally considering adopting blockchain technology following formation of a special task force by the ICT cabinet secretary Joe Mucheru. Dr. Bitange Ndemo will be heading the task force that will explore explore the use of distributed ledger technology and artificial intelligence for development in Kenya. The task force will consist of an 11 member team with a tenure of three months. The task force main agenta is expected to provide a clear road map for the use of blockchain technology locally. Others members are John Gitau, Mahmoud Mohammed Noor, Dr Charity Wayua, Elizabeth Ondula, John Walubengo, Lesley Mbogo, Michael Onyango and Fred Michuki.
What is Blockchain Technology and how will it benefit Kenya?
The blockchain can best be described as a digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value without being susceptible to data corruption. In simple terms, blockchain technology resembles a spreadsheet that can be duplicated numerous times across a network of computers and is updated regularly. This information saved on a blockchain is shared and regularly reconciled as opposed to a database that’s stored in a single location. Since a centralized database is susceptible to hacking, data on a blockchain is therefore incorruptible and safe from hackers.
The blockchain technology is therefore an undeniably ingenious invention – the work of group of people known by the pseudonym, Satoshi Nakamoto, however; it has now grown into something greater, and the main question every single person is asking is: What is Blockchain?
By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet.
Bitcoin has been called “digital gold,” and for a good reason. To date, the total value of the currency is close to $9 billion US. And blockchains can make other types of digital value. Like the internet (or your car), you don’t need to know how the blockchain works to use it. However, having a basic knowledge of this new technology shows why it’s considered revolutionary. So, we hope you enjoy this, what is Blockchain guide.
Dr Bitange Ndemo has been appointed chairman of a government taskforce that will explore the use of distributed ledger technology and artificial intelligence for development in Kenya.
Here in Kenya, the cabinet secretary noted intention of the government to utilize a distributed ledger technology for various applications in the education and lands sectors. The team is also expected to formulate a way to decentralize incubation hubs beyond Nairobi and explore the “possibility of an innovation SACCO and/or fund within the next 12 months”.