{"id":84247,"date":"2023-04-08T14:00:13","date_gmt":"2023-04-08T11:00:13","guid":{"rendered":"https:\/\/www.capitalfm.co.ke\/business\/?p=84247"},"modified":"2023-04-08T09:15:58","modified_gmt":"2023-04-08T06:15:58","slug":"american-digital-currency-exhange-platform-worldcoin-enters-kenya","status":"publish","type":"post","link":"https:\/\/www.capitalfm.co.ke\/business\/2023\/04\/american-digital-currency-exhange-platform-worldcoin-enters-kenya\/","title":{"rendered":"American digital currency exhange platform Worldcoin enters Kenya"},"content":{"rendered":"<p><strong>NAIROBI, Kenya, April 8 &#8211; Worldcoin, a protocol that is intended to be the world\u2019s largest, most inclusive identity and financial public utility and to be owned by everyone, is expanding throughout Nairobi.\u00a0<\/strong><\/p>\n<p>The organization is teaming with local organizations to provide\u00a0access to the global digital economy and to offer educational resources to Kenyans\u00a0about blockchain technology and emerging web3 technologies.<\/p>\n<p>One of the key features of Worldcoin&#8217;s entry into Kenya is the launch of a peer-to-peer\u00a0(P2P) exchange that allows individuals to quickly and easily access digital currencies\u00a0and US dollars directly with one another, without the need for a centralized third party to\u00a0facilitate the transactions.<\/p>\n<p>This P2P exchange is developed by\u00a0Tools for Humanity\u00a0(TFH), a technology company that supports the Worldcoin protocol.<\/p>\n<p>Since its pilot phase, Worldcoin has garnered over 360,000 sign-ups and the World App\u00a0has been downloaded over 1,200 times per day.<\/p>\n<p>With 16 locations across Nairobi, the\u00a0product provides Kenyans with access to the USD and cryptocurrencies, which were\u00a0previously limited and expensive to acquire.<\/p>\n<p>The P2P agents are also Worldcoin\u00a0Operators, providing an added layer of transparency and trust.<\/p>\n<p>The cryptocurrency industry in Kenya has been steadily growing in recent years, with a\u00a0rising number of crypto projects and increasing adoption by the general population.<\/p>\n<p>In\u00a02022, the\u00a0UNTCAD\u00a0estimated that there were around 1.5 million active cryptocurrency\u00a0users in the country, and this number is expected to continue to rise.<\/p>\n<p>Kenya&#8217;s strong\u00a0mobile money infrastructure, with services such as M-Pesa, has been a significant\u00a0driver of crypto adoption in the country.<\/p>\n<p>Additionally, the Kenyan government has set up\u00a0a task force to explore the potential use cases for the technology in various industries.<\/p>\n<p>\u201cKenya is the financial and tech hub of East Africa, and there\u2019s a strong, natural interest here in the technologies that are shaping the global digital economy. Worldcoin is a good example of that kind of technology, not only because of the service it provides but because, through the engagement of Tools for Humanity, it allows Kenyans to learn more about cutting-edge financial and identity products,\u201d\u00a0Wangechi Mwangi, Market Manager for TFH in support of Worldcoin East Africa said.<\/p>\n<p>Worldcoin&#8217;s entry into Kenya also includes initiatives focused on education and\u00a0engagement. In April 2022, TFH introduced local Kenyan founders and entrepreneurs to\u00a0World ID, a new privacy-first digital identity protocol.<\/p>\n<p>The World ID for East Africa event\u00a0focused on developing use cases for the technology that would be most relevant to\u00a0Kenyans.<\/p>\n<p>Worldcoin also sponsored ETHSafari, the first ETH conference in sub-Saharan Africa,\u00a0alongside organizations like Polygon and Celo.<\/p>\n<p>The multi-day event brought together\u00a0individuals from around the world to learn, hack, discuss, and celebrate the\u00a0decentralized future.<\/p>\n<p>Worldcoin also sponsored a hackathon in parallel with ETHSafari,\u00a0awarding the best projects developed with the World ID SDK.<\/p>\n<p>In addition to these initiatives, TFH has been working with Strathmore University, one of\u00a0the country&#8217;s leading schools for commerce and technology, to teach students about\u00a0emerging technologies like blockchain and web3.<\/p>\n<p>The collaboration ranges in scope\u00a0from summits about the evolution of web3 to upcoming hackathons building with the\u00a0World ID\u00a0Software Developer Kit.<\/p>\n<p>Worldcoin&#8217;s entry into Kenya aims to provide access to the global digital economy and\u00a0to offer educational resources to Kenyans about blockchain technology and web3.<\/p>\n<p>The\u00a0P2P exchange, developed by TFH, provides easy and inexpensive access to digital\u00a0currencies and US dollars, which were previously limited and expensive to acquire.<\/p>\n<p>With a focus on collaboration and education, Worldcoin&#8217;s expansion into Kenya aims to provide opportunities for economic growth and technological innovation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NAIROBI, Kenya, April 8 &#8211; Worldcoin, a protocol that is intended to be the world\u2019s largest, most inclusive identity and financial public utility and to be owned by everyone, is expanding throughout Nairobi.\u00a0 The organization is teaming with local organizations to provide\u00a0access to the global digital economy and to offer educational resources to Kenyans\u00a0about blockchain [&hellip;]<\/p>\n","protected":false},"author":14381,"featured_media":84248,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,13,3],"tags":[7265,1488,9230,10099,934,822,10100],"coauthors":[6664],"class_list":["post-84247","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kenya","category-technology","category-world","tag-american","tag-digital-currency","tag-enters","tag-exhange-platform","tag-featured","tag-kenya","tag-worldcoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>American digital currency exhange platform Worldcoin enters Kenya - Capital Business<\/title>\n<meta name=\"description\" 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