A task force looking into the deployment of new technologies in Government processes has proposed the setting up of a blockchain trading platform.
According to the Government Task Force on Distributed Ledgers Technology and Artificial Intelligence, the State could use the platform to make initial coin offerings to facilitate public trading of blockchain ledgers.
However, there is yet a concrete roadmap for implementation. The task force has flagged lack of capacity and policy framework to embark on some of the recommendations even as Kenya looks to best practices applied in other countries.
“Several currencies have been developed or are in the process of being developed, albeit without a framework,” says the task force in the report released last week.
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“Evidently, this is a matter that policymakers cannot wish away.”
The team has also proposed the use of blockchain technologies in future elections.
“In the short-term, the priority set forth by the task force would be to implement this in elections for schools, Saccos, professional associations, and public and private institutions, together with benchmarking of best practices from other successful polls,” says the report.