02 Sep '13, 12pm

Kenya: Are Bitcoins the Future of Mobile Money? - Think Africa Press #bitcoin

Kenya: Are Bitcoins the Future of Mobile Money? - Think Africa Press #bitcoin

Want to go to the market, pay for a taxi or send money back home? In Kenya, all you need is your mobile phone. Ever since Safaricom, Kenya's largest mobile-network operator, launched the mobile-payment system M-Pesa in 2007, some two-thirds of Kenya's adult population have subscribed, and an astonishing 31% of the country's GDP is now spent through mobile phones. Kenya has been at the forefront of popular technological innovation for the past 5 years, and now there are indications that the country could usher in a new era of mobile banking. On 1 July, a company called Kipochi launched a new 'digital wallet' service that allows Kenyans to not only send and receive money domestically but, using the online peer-to-peer currency Bitcoins , transfer it internationally. M-Pesa's groundwork "In a country like Kenya it doesn't make sense to compete directly with M-Pesa on what it ...

Full article: http://thinkafricapress.com/kenya/mobile-money-kenya-cont...

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