Kenya is quickly adopting blockchain and crypto to further bolster development

Kenya is moving fast to adopt blockchain and crypto.

A few days ago, the country’s electoral authorities suddenly announced the implementation of blockchain into its voting system. And now, the East African country is preparing to launch a blockchain-powered cryptocurrency by the end of September.

The crypto project is called TMX Global Coin which is initially intended for value supply chain and is aimed at solving issues in the logistics industry across the African region.

The original intention of TMX Global Coin

The TMX Global Coin has been under development since last year. Initially, it was meant to be a decentralised smart contracts platform to eliminate problems related to national and international imports and exports.

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The CEO of TMX Global, Anthony Njoroge, says the decision to launch a cryptocurrency arose after many complaints were lodged exposing deficiencies in the supply chain sector in Africa.

“We are using blockchain technology to enhance cargo logistics business to have more open, transparent and democratised process using a decentralised system where all users can talk to each other on an open platform,” Njoroge said.

What users can do with TMX

Users of the TMX platform will be able to place orders online and monitor the whole process of the supply chain. They will also be able to view which documents they require to start trading.

“The consumer as well gets to know the amount of money required through the different processes the cargo goes through and the estimated amount of time,” the CEO adds.

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Kenya has recently decided to implement blockchain in its bid to bolster economic and political development.

Recently, the country’s Independent Electoral and Boundaries Commission Chairman Wafula Chebukati also announced that the government is eyeing distributed ledger technology (DLT) to improve the efficiency and transparency of the nation’s electoral system.