Building bridges between Kenya and the Blockchain economy

One of the main objectives of this project is to integrate the non-banking population in conventional finance, exploiting new technologies, in particular the Blockchain. This offers the possibility of decentralized financing (DeFi: Decentralized Finance), and even more if the mass adoption of mobile money is taken into account Kenya.

This scenario is beneficial both for those who have banks and for those who are not. Functionality such as convenience, speed and low transaction fees are increasingly attracting those that are banking.
On the other hand, it is known that despite the many potential benefits of Blockchain technologies for developing countries, sub-Saharan Africa is still lagging behind in adopting the cryptocurrency. But if this progresses, stable currencies could provide distressed communities with access to capital, liquidity and the gateway to global markets.

Building bridges between Kenya and the economy Blockchain - TokenPesa

What are the underlying problems and challenges?

  1. Lack of dedicated cryptographic markets. Cryptocurrency exchanges today do not provide a direct mechanism for entering and exiting markets quickly Kenyan shilling.
  2. Cryptocurrency Volatility Despite the growing interest of Kenyan traders in adopting the blockchain, most are still skeptical of the possible loss of value due to the price volatility associated with cryptocurrencies.
  3. Regulatory uncertainty The Central Bank of Kenya has hesitated to recognize cryptocurrencies as legal tender, mainly due to its anonymous nature. The institution has advised, again and again to the general public, not to negotiate with cryptocurrencies, which further inhibits the adoption.

The TokenPesa solution for Kenya and the world

Decentralized finance (DeFi: decentralized finance) covers a wide range of categories: from stable currencies, insurance and forecast markets, to decentralized exchanges. But fortunately, DeFi projects can be composed together, to form higher order entities.

TokenPesa

And proximity tourism comes in play TokenPesa, which is a triple solution of Decentralized Finance, which aims to strengthen the adoption of Blockchain technology in Kenya and potentially divert the development of saturated economies in developing countries.
So we can say that this project aims and embarks on this to create bridges of mutual growth in which it is possible to find a solution that integrates a stable federated shilling currency of Kenya with a decentralized network of asset management and exchange, to allow a vibrant blockchain in Kenya ecosystem.

TokenPesa Reach

In essence, the TokenPesa network is composed of:
1) KSH wrapped *: an activity-supported token (stablecoin) linked 1: 1 to the value of the Kenyan shilling
DAO TokenWatch *: resource management and management of decentralized and autonomous tokens wrapped KSH
PesaDEX *: a decentralized digital resource exchange (DEX) network that exchanges KSH Wrapped with multiple ERC20 tokens, for example (WKSH-HOT)

Wrapped KHS (WKSH) is a token ERC20 on Ethereum supported 1: 1 from Kenya Shilling. The WKSH follows the framework of wrapped tokens, but instead of relying on multiple custodians, it is based on a single custodian of the network and a consortium of agents. WKSH uses a simple model of federated government and is committed to promoting usability.
This brings liquidity (the main bridge between the fiat KSH and the world of cryptocurrencies), faster transactions (accelerates Kenyan shilling transactions), transparency (activity of mining, fully verifiable registration and transfer in Ethereum's public scouts), lower commissions (transactions can be made with rates close to the ZERO blockchain and the federal government
(All agents in the network will be members of TokenPesa DAO (Decentralized Autonomous Organization).
2) TokenPesa DAO is a strong, scalable, decentralized autonomous organization based on the DAOstack operating system. TokenPesa DAO Token (TDAT) is the native DAO token, while TDAT reputation is the DAO reputation / rating points.
All DAO members will hold the TDAT reputation. Reputation points are non-transferable assets that represent the influence (voting power) on the DAO. However, unlike the native token that cannot be removed by its owner, the reputation can be removed if its owner acts against the interests of DAO.
3) PesaDEX is a decentralized hybrid exchange, based on the Hydro protocol. The WKSH will be used as a basic token in PesaDEX trading pairs, for example (WKSH-WETH, WKSH-TDAT, WKSH-HOT); thus providing a liquidity gateway to and from more ERC20 tokens.
PesaDEX does not store funds or customer information and only serves as a secure routing and order matching layer. Unlike traditional DEXs, Hydro allows the development of decentralized exchanges that are immune to order collisions and frontal attacks.
Other advantages include:
1. A fast and robust order matching algorithm
2. Asymmetric velocity structures. The trading fees are charged via the basic token, WKSH
3. Market makers obtain reimbursements from producers for the provision of liquidity
4. Free cancellation of the order
5. Share hybrid liquidity

Conclusion

The stable currency of the TokenPesa network, decentralized exchange and asset management is simple and mutually beneficial.
Stablecoin allows DEX to provide more intuitive trading pairs and improve liquidity. In return, the DEX provides arbitration and settlement mechanisms, critical processes to keep the currency stable.
Furthermore, the inherent stability of stable currency prices allows for a coherent and decentralized asset management market; while DEX provides more access points to the ecosystem.
This could help the better and more reliable growth of an emerging economy.

Official links:

Web: https://tokenpesa.network
Contact: [email protected]