The post Bitcoin Atm Kenya Launch, When not perhaps? appeared first on iceCUBED Bitcoin and Litecoin Exchange - South Africa.

Will we see a Bitcoin ATM Kenya Wide?

Bitcoin ATM Kenya? Yes, Please!

Here we analysze that question, as a possible solution to Kenya’s banking problems.

Kenya has a long and rich (excuse the pun) history of problematic banking. Over 30 banks have gone under in the last 30 years.

The case for Bitcoin in Kenya is clear. In the mainstream Kenyan press Michael Kimani recently made a compelling argument for electronic cash broadly, and Bitcoin more specifically. The piece only appeared in print, but was very well received.

His fascinating article came on the back of a run on Chase Bank Kenya. This was after social media reports that the bank had misrepresented its loan situation. Chase was the third Kenyan bank in less than a year to face such issues.

Kimani’s piece focuses primarily on electronic cash. His affinity for Bitcoin as a money substitute is well documented, particularly on social media.

Opinion: Why Kenya Should Embrace Virtual Currencies http://www.techweez.com/2016/05/31/kenya-virtual-currencies/ … via @techweez

— Michael Kimani (@pesa_africa) 31 May 2016

Of course, we agree with Mr. Kimani. We are fans of his work and general contributions to the space.

In his article Mr. Kimani notes that “Kenya’s recent banking troubles behove us to look at alternative forms of storing value.”

Will see a Bitcoin ATM Kenya Wide? As a solution to Kenya’s banking woes

The Central Bank of Kenya is following the larger global pattern, tightening its noose around the cash economy. We are left to wonder how exactly Bitcoin can really assist Kenyans.

Perhaps the answer lies in Bitcoin ATMs. We have covered the topic of Bitcoin ATM’s before. They have met with some degree of success in South Africa. Though globally, they haven’t really taken off. Yet they do provide a simple and effective way to get Bitcoin into an economy.

Bitcoin ATMs area possible solution for any economy where the banking system is ailing and the citizens require an alternative.

We look forward to working more closely with thought leaders in Africa markets like Kenya. We hope to play a part in developing solutions.

As Mr. Kimani rightly notes, bitcoin is the “hope of a digital bearer asset” realized. A hope that was thought “all but gone”, until Bitcoin appeared in 2009.

We remain committed to realizing that dream. All individuals in Africa should have equal access to this tool.

In markets like Kenya the core question with Bitcoin is not ‘why’, but ‘how’.

The post Bitcoin Atm Kenya Launch, When not perhaps? appeared first on iceCUBED Bitcoin and Litecoin Exchange - South Africa.