However, of particular interest to you dear reader, may be the presentation prepared and delivered by Mr Mussie Haile , an Eritrean-born blockchain expert who studied in Kenya and America. Mr Mussie’s primary concern at the workshop was to share use cases on how blockchain and cryptocurrencies can disrupt markets in Kenya.
“We are all fascinated by cryptocurrencies, but that’s not where the money is, the real potential lies in the technology behind bitcoin, which is blockchain.” Said Mr Mussie.
True to his words, everywhere you look there’s more talk about bitcoin’s exponential rise, than the underlying technology – blockchain. As the founder of a Blockchain-As-A-Service company, RevoltCypher, Mr Mussie gave an insightful presentation on the various applications of blockchain technology in the Kenyan Financial space.
Get to The Future First, It Matters
The future is hard to predict, but rather than wait and see how the landscape may settle, Mr Mussie urged investment advisors to consider investing in blockchain technologies as well as partner with blockchain companies for purposes of consolidating and expanding their service portfolio, value adds and carving out new roles.
At the end of the three-day workshop, the key lesson for all present was that investing in bitcoin is not investing in blockchain technology. In fact, when you think about it, owning a bitcoin only means having an electronic document stating you have a bitcoin.
On the other hand, investing your money on profit-making companies that are looking to harness blockchain technology rather than speculating on crypto has higher chances of yielding a return.
Think of it like buying gold mining companies versus the gold itself. However, this too has created challenges in the market.
Here is the Chairman, ICIFA, talking about regulation in the space: