12 Jul '13, 4pm

One Third of Kenyans Now Have a Bitcoin Wallet

One Third of Kenyans Now Have a Bitcoin Wallet

Thanks to bitcoin, it's about to become a lot easier to move money in Africa. M-Pesa , a successful mobile money platform in Sub-Saharan Africa, is embracing bitcoin. The service will give rise to transactions with negligible fees (~$0.04), and could dramatically slash revenues of existing money transfer services like Moneygram, Western-Union and Paypal. That is, if the famed untraceable digital currency catches on. Kipochi , the bitcoin wallet service is now being integrated into M-Pesa, which more than one third of Kenyans have already signed up for, as well as five million Tanzanians . A team of 8,300 brand agents is also currently canvassing East India, targeting 'unbanked' people . (Update: Just to clarify, that one third of Kenyans now has access to a bitcoin wallet service doesn't mean that all of those people use bitcoins. We'll see how usage growth pans out after ...

Full article: http://motherboard.vice.com/blog/one-third-of-kenyans-now...

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