Akoin (AKN), the cryptocurrency developed by American singer Akon, is set to become the exclusive cryptocurrency of the Mwale Medical and Technology City in Kenya. It has been reported that the trial phase was launched back in November 2020 at the time of the AKN listing on the Bittrex crypto exchange. However, after the success of the initial pilot, the Akoin crypto is now ready for full deployment in the $2 billion complexes in July. Commenting on the success of the pilot p

Report said that Kenya’s planned Digital Service Tax (DST) came into effect at the start of 2021. It has been reported that the DST is part of the country’s 2020 revamped Finance Act that focuses on the digital services market among other sectors. However, based on the provisions of the new tax regime, e-market transactions including cryptocurrency payments now attract a 1.5% levy. Reginald Alango, a Kenya country representative at Bitzlato, a noncustodial peer-to-peer crypto

Etherisc, a decentralized insurance protocol, and ACRE Africa, a microinsurance issuer, has planned to deliver affordable coverage for the nearly 250,000 smallholder farmers in Kenya. It has been reported that the Chainlink Community Grant program has been announced this project, which many of whom are expected to be disproportionately affected by climate change over the next three years. However, the planned platform will also provide insurance policies with payment installm

A report from the United Nations’ drugs and crime agency said that blockchain technology can help countries like Kenya from losing billions of dollars to corruption. It has been reported that David Robinson, the Regional Anti-Corruption Advisor at the UN’s Office on Drugs and Crime, said that new technologies like blockchain will help Kenya combat government corruption and other economic crimes. However, Robinson claimed that blockchain-based solutions can provide full tracea

YENTS, a stablecoin developed by Kenya’s Young Entrepreneurs Network (YEN), has entered into testing under the local regulatory sandbox. It has been reported that YEN, which organizes golfing tournaments to facilitate networking opportunities for Kenyan entrepreneurs, plans on initially using the stablecoin as a means of payment for sporting events and training programs. Kamau Nyabwengi, the CEO of the network, said that YEN intends to launch the token in November, and hopes

Three national units of the Red Cross cooperated on a blockchain-based currency scheme for aid delivery and boosting local economies. On Nov. 26 Thomas Reuters Foundation reported that a two-year plan is launched to replace cash and voucher provision in aid delivery and development with blockchain-backed “local currencies” within the Red Cross societies of Norway, Denmark, and Kenya. The Red Cross is the largest humanitarian donor just after the United Nations. Boosting Local