2ND EDITION

KENYA BLOCKCHAIN &

CRYPTO CONFERENCE
“Role of Blockchain in Shaping Africa’s Economic Landscape”

6TH - 7TH JUNE, 2024 | CEMASTEA, KAREN NAIROBI, KENYA

EVENT REPORT
KBCC 2024 Report | www.kenyablockchainandcryptoconference.co.ke
 Kenya Blockchain &
Crypto Conference 2024

Sponsors and Partners

KBCC 2024 would not have been possible without the generous support of our sponsors and the invaluable partnerships
we forged. Thank you for making KBCC a huge success.

SPONSORS EXHIBITORS COMMUNITY

PARTNERS

MEDIA PARTNERS LOGISTICS PARTNER

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 Kenya Blockchain &
Crypto Conference 2024

Media Coverage
The Kenya Blockchain and Crypto Conference attracted
media
coverage from leading media outlets in the country
• Citizen TV- https://youtu.be/KJmLa_ml-_k?si=-
q0-Hf--248xsD0ET
• Citizen Digital- https://www.citizen.digital/news/
blockchain-and-dig- ital-assets-players-urge-govt-to-
strike-balance-in-sector-regula- tion-n342942
• KBC TV- https://youtu.be/bQJRvO5OXCs?t=3685
• TV 47- https://youtu.be/F9CZpVt1iiI?si=eltdyQ-
Q4sSUb60wq
• The Star Newspaper- https://www.the-star.co.ke/-
news/real- time/2024-06-11-stakeholders-want-better-
regulations-to-unlock-block- chain-sector/
• NairobiCityCountyNews-https://nairobi.go.ke/
nairobi-county-in-the-fore- f ront-of-creating-a-
supportive-environment-for-blockchain-adoption/
• Financial Fortune Media- https://
www.financialfortunemedia.com/
blockchain-and-crypto-stimulants-for-
transforming-kenyas-economic-land- scape/
• Garowe Online - https://garoweonline.com/en/
featured/business-n/bet- ter-regulatory-f ramework-
vital-in-unlocking-the-potential-of-block- chain-
industry-experts-say

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Introduction
The Kenya Blockchain and Crypto Conference 2024 (KBCC)
was a premier gathering of industry experts, thought
leaders, and enthusiasts passionate about the transformative
potential of blockchain and cryptocurrencies.

The Kenya Blockchain and Crypto Conference 2024 marked a

pivotal moment in the intersection of technology and
economic development on the African continent.

Following the success of the 2023 conference, which focused

on “Mainstreaming Blockchain in Africa”, this year’s event
delved deeper into the “Role of Blockchain in Shaping
Africa’s Economic Landscape.” The conference was a nexus
of ideas, innovations, and collaborative efforts as we explore
the transformative potential of blockchain technology in
propelling Africa towards economic prosperity.

The Kenya Blockchain and Crypto Conference 2024 provided

a platform for in-depth discussions on key industry issues,
fostering collaboration among stakeholders, and inspiring
new ideas for harnessing blockchain’s potential for economic
growth.
 Kenya Blockchain &
Crypto Conference 2024

Four Key Pillars of the Conference

Fostering Adressing Regulatory

01 Adoption
03 Framework Challenges

Promoting Building Collaboration

02 Innovation 04 and Partnerships

The conference content and sessions were

co-designed by the community. We engaged
a selected group of stakeholders representing
different sectors and companies in the Web3
space to ensure a diverse and inclusive
conference. The individuals represented 17
companies that included;

A BIG THANK YOU

to our KBCC 2024 steering group committee.

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 Kenya Blockchain &
Crypto Conference 2024

Conference Attendees
The KBCC 2024 brought together a vibrant community
from across the blockchain and crypto ecosystem.

• Web 3 Startups • Bankers

• Developers and Builders • Regulatory Bodies
• Investors and Funders • Association Ecosystem Members
• Legal Practitioners • Academia & researchers
• Government Agencies • Media amongst others
• FinTech Professionals

68 + 316 +
Speakers Guests

The KBCC 2024 edition had 68 speakers, which is 61.90% more than KBCC 2023 which had 42 speakers. There were
also 316 guests in KBCC 2024, reflecting a 72.68% increase from KBCC 2023 which had 183 guests.

The gender distribution at KBCC, with 213 males and 103 females in attendance, highlights the need for greater inclusion
of women in the blockchain and crypto ecosystem. To bridge this gap, it is crucial to implement measures that educate
and empower more women, fostering a diverse and equitable environment in the rapidly evolving world of blockchain
and digital assets.

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 Kenya Blockchain &
Crypto Conference 2024

KeyNote Speakers

Sandra Ro, CEO, Global Blockchain Business Council (GBBC)

In her keynote address on the global state of blockchain and digital assets, Sandra emphasized
GBBC’s mission to promote blockchain adoption for secure, equitable, and sustainable societies.
She outlined GBBC’s three pillars of success— Education, Partnerships, and Standards while
highlighting the synergy between AI and blockchain, the tokenization of carbon markets, and
blockchain’s role in verifying value. Sandra also discussed digital money in Web3 and the influence
of monetary unions on its future, urging stakeholders to embrace innovation and collaboration.

Jamiel Sheikh, CEO, Scifn

Jamiel delivered a keynote on “The Future of AI,” emphasizing the transformative potential of AI and
Machine Learning. He distinguished between traditional AI, which focuses on prediction and
discernment, and the new generative AI, which emphasizes creation and generation. Sheikh
discussed the associated risks, including the complex dynamics between humans and machines
and the challenges governments face in exerting control. He also highlighted the paradoxical shift
from humans training AI to AI training humans, urging stakeholders to navigate this transition
thoughtfully.

Emmanuel Kimeu, Secretary ICT - Security and Audit Control Ministry of Information,
Communications, and the Digital Economy, highlighted the strategic alignment of blockchain
technology with Kenya’s Digital Superhighway and Creative Economy initiatives, as well as Vision
2030’s Digital Economy Blueprint, highlighting its potential to drive the nation’s digital
transformation.

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 Kenya Blockchain &
Crypto Conference 2024

Mike Mayo Gumo Nairobi

County ICT Executive Committee
Member, denoted blockchain’s
practicality in devolved
Ray Youssef: CEO, NoOnes,
stressed the link of Blockchain to
government, including business
Pan-African trade which is to
and property data management,
catalyze a peer to peer revolution
public service and governance,
to overturn “Financial Apatheid”
and healthcare and identity
opining that conventional money
management.
movement is “killing trade.”

Ali Hussein Kassim: Chairman, Lorrien Gamarrof: CEO,

Association of Fintechs in Kenya, in his Centbee, twisted the
keynote on “Establishing a Robust conversation. A proponent
Blockchain Ecosystem: Insights and of a single Blockchain, he
Lessons Learned from Other debunked the “myth”
Transformative Technology Sectors,” associated with Blockchain
highlighted that infrastructure barriers & Crypto & championed and
to blockchain adoption in Africa regulatory compliance.
include digital literacy, connectivity,
and power supply. He emphasized that
unlocking the transformative potential
of blockchain in Africa requires
creating opportunities for developing
innovative blockchain-based solutions
that address local challenges.

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Kenya Blockchain &
Crypto Conference 2024

Panel Discussion
1. Africa’s Economic Landscape and the Role of Blockchain Key Takeaways
Moderator: Apollo Sande - Country Manager, Luno (Kenya) • The discussion highlighted challenges in
• John Walubengo - Tech Policy Thought Leader implementing blockchain technology in
• Edwin Sikini - Founder, Blockchain Technologies Limited government due to hierarchical structures.
• Mumo - Educator, SatoshifyMe Solutions • There is need to promote blockchain and
• Wesley Ndirangu - Country Manager, Bitmarkets (Kenya) cryptocurrency awareness through education
at the grassroots level.
• Additionally, the potential of blockchain
technology to benefit sectors beyond finance,
such as aiding small-scale farmers, was explored.
• The need for careful consideration of
regulations when developing blockchain
innovations was also emphasized.
• A crucial point raised was the need for enabling
legislation that gives confidence to civil
servants to onboard young innovators to build
blockchain systems. Once this legislation is in
place, bureaucrats will be more comfortable
inviting digital ledger technology to develop
solutions for the public sector, facilitating
innovation.

The panelists discussed the underlying principles of Blockchain, its potential applications, its impact on various industries,
regulatory considerations, and emerging trends in the sector in shaping Africa’s Economic Landscape.

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 Kenya Blockchain &
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2. Why Stablecoins Matter

Moderator: Eric Michubu
• Felix Macharia - CEO, Kotani Pay
• George Mosomi - Blockchain Engineer
• Saruni Maina - Associate VP Stablecoins
Segment, Flutterwave
• Lucy Manzi - Chapter Lead, Women in DeFi
• Juliet Kanjukia - Senior Associate, Project
Management, Save the Children
• Denis Gitonga - Partner Operations, Haraka

This panel looked into the growing importance of stablecoins in the global financial landscape. Stablecoins, a type of
cryptocurrency designed to maintain a stable value, are increasingly used for payments, remittances, and within
decentralized finance (DeFi) platforms. This discussion explored the potential of stablecoins to drive financial inclusion,
particularly in emerging markets, and address the challenges and opportunities they present for both individuals and
institutions.

Key Takeaways
• Stablecoins are a hedging tool against crypto market volatility and a critical building block for the growth of
Decentralized Finance (DeFi).
• Stablecoins have the potential to shape the future of finance by introducing new possibilities and transforming
traditional financial systems.

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 Kenya Blockchain &
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3. Fireside Chat: Tokenization of Assets: Unlocking

Economic Value
Moderator: Robert Muoka - Senior Partner T.M.M &
Partners Advocates
• Trevor Kimani - CEO & Co-Founder alphabloQ
• Kevin Dylan - Founder, One Million Avocados
• Aly Ramji - Director, Mediapix Limited
• Ed Nwokedi - CEO, RedSwan CRE
• Juliana Mwangi - Head of Operations, Safariex

The panelists explored the potential economic value unlocked by asset tokenization, including its impact on financial
markets, regulatory challenges, and the future of asset ownership. They discussed practical applications, benefits, and
risks associated with this transformative technology, while also considering its implications for various industries and
stakeholders.

Key Takeaways
• Asset tokenization is enhancing liquidity and democratizing investment opportunities, making traditionally illiquid
assets more accessible to a wider range of investors, especially in emerging markets.
• Blockchain technology’s role in increasing transparency and reducing fraud was highlighted as a key benefit.
However, regulatory challenges remain significant, necessitating clear and supportive frameworks for sustainable
adoption.
• Collaboration among regulators, industry players, and technology providers is essential to navigate these challenges.
• Tokenization’s versatile applications across industries, from real estate to agriculture, indicate its potential to reshape
asset ownership and management in the future.

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 Kenya Blockchain &
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4. The intersection of AI and Blockchain for Africa’s

economic prosperity
Moderator: Mutembei Kariuki - CEO, Fastagger
• Jeff Mkungusi - CEO, Africa Blockchain Center
• Tim Theuri - Executive Head of Cybersecurity, M-Pesa
Africa
• Jamiel Sheikh - CEO, Scifn
• Moses Liech - Co-Founder & CEO Investa Farm
• David Lumala - Blockchain Software Architect and
Engineer, GreenAntfarm

This panel discussion looked into the exciting possibilities

that emerge when artificial intelligence (AI) and
blockchain technology converge, specifically within the
context of Africa’s economic development.

Key Takeaways
• The emergence of large language models (LLMs) presents exciting possibilities for personalized learning about
blockchain technology. LLMs can demystify complex topics like zero-knowledge proofs in plain language and tailor
explanations to individual understanding.
• The potential of AI to enhance smart contract security through anomaly detection was highlighted, with MetaMask and
Rabby Wallet cited as examples of such advancements.
• Fostering innovation in this space requires collaboration with regulators. A prime example is Safaricom PLC’s successful
partnership with the government to create M-Pesa, a mobile payment solution that addressed real-world needs for the
Kenyan population.
• A recurring theme throughout the event was the importance of developing solutions that solve problems impacting
everyday people.

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 Kenya Blockchain &
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5. Crypto Regulation NOW: Necessity or Constraint?

• Moderator: Grace Waswa - ESG Lead, MMW Advocates
• Richard Odongo - Legal Associate, Bowmans (Law Firm)
• Stella Muraguri - Managing Partner, MMW Advocates LLP
• Bill Okello - Partner, Okello & Kiume Advocates
• Edline Murungi - Senior Legal Counsel East Africa, Yellow
Card Financial

This timely panel discussion looked into the critical question of

whether immediate and comprehensive crypto regulation is
necessary or potentially a constraint on innovation in Africa.
The panelists explored the various regulatory approaches and
their potential consequences for consumers, businesses, and the
broader economy. The panelists identified potential solutions
and best practices that balance innovation with responsible
oversight and contribute to the ongoing conversation about
shaping effective and sustainable crypto regulation in Africa.

Key Takeaways
• The rapid evolution of blockchain technology presents both challenges and opportunities. To ensure this technology
fosters innovation while upholding ethical and sustainable practices, we need regulations that strike a balance.
• Current trends show a global move towards stricter frameworks. The interplay between regulation, education,
and innovation in blockchain isn’t just a regulatory hurdle, but a strategic necessity for sustainable business practices.

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 Kenya Blockchain &
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6. Startup Roundtable
Moderator: Timothy Gachucha - Strategic Partnerships
Lead, Power Learn Project
• Ronald Nzioki - Incubator Program Manager, Celo
Foundation
• Stephen Kimoi - Co-Founder & CTO, Investa Farm
• Innocent Magothe - CEO, Stratinev
• Benaiah Wepundi - Founder & CEO, PaydHQ

The Startup Roundtable was designed to foster dialogue and

networking among founders, investors, and ecosystem
supporters of startups. This facilitated discussion provided
valuable insights into the challenges and opportunities
faced by startups, shared strategies for success, and explored
the role of various stakeholders in supporting startup
ecosystems.

Key Takeaways
• The discussion emphasized the importance of “investor pitching.” Investors should actively engage with founders and
developers, providing guidance beyond just financial backing.
• The discussion highlighted a shift away from abstract ideas and toward securing traditional bank support.
• Furthermore, it emphasized transitioning hackathons from bounty-hunting exercises to launching real-world projects.

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 Kenya Blockchain &
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7. Collaboration for a Thriving Ecosystem: Exploring

synergies between banks, exchanges, payment providers,
fintech companies and regulation

Moderator: Andrew Pal- Consultant to Touch-Fire Trading

and TradeFlow
• Norman Gabula - Advocate, High Court of Kenya
• Francis Gwer - Financial Sector Policy Specialist, FSD
Kenya
• Lydia Wangari - Digital Assets Analyst Officer, KRA
• Keega Gakuua - Partner, Dunda, Kimani and Keega
Advocates

pratical_document (4).pdf
This session highlighted potential synergies between checklist_document (5).pdf
traditional financial institutions, emerging fintech checklist_document (6).pdf
companies, and regulatory bodies. checklist_document (7).pdf
pratical_document (5).pdf
Key Takeaways
• Collaboration between banks, exchanges, payment providers, fintech companies, and regulators is essential for creating
a robust financial ecosystem. This synergy drives innovation, efficiency, and consumer protection.
• Effective partnerships streamline cross-border transations, enhance financial inclusion, and support the development of
tailored financial products in Africa.
• There is a need for balanced regulations that encourage innovation while protecting consumers. Clear policies and
public-private partnerships are crucial for addressing infrastructure challenges like digital literacy, connectivity, and
power supply, facilitating the broader adoption of blockchain and fintech solutions across the continent.

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 Kenya Blockchain &
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8. Breakout Sessions Key Takeaways

i) Bitcoin’s role in shaping the African • Bitcoin’s influence in Africa encompasses significant contributions to
Economic Landscape economic development, financial inclusion, and technological
Moderator: Sharon Murugi - Community Builder
• Felix Mukungu - Founder, The Core innovation. Its potential to empower underserved populations
• Roselyne Wanjiru - Markets & Research through access to global financial networks and alternative banking
Analyst solutions is clear, yet challenges like regulatory uncertainty,
• Jason - CEO, Tando.Me
• Ry Sterling - BD, EMEA IBEX. infrastructure limitations, and educational gaps must be addressed
for widespread adoption.

• A collaborative effort involving entrepreneurs,

policymakers, and the community is essential to
navigate these challenges, foster regulatory clarity,
build robust infrastructure, and promote
comprehensive education initiatives. This
collective approach will be instrumental in shaping
Bitcoin’s trajectory in Africa, ensuring it fulfills its
promise of driving socio-economic progress across
the continent in the coming years.

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 Kenya Blockchain &
Crypto Conference 2024

ii) Regulation and Policy Hackathon Facilitators This timely workshop came as a result of Kenya’s Finance
• S.A Kakai - Virtual Assets Policy Specialist Act 2023 which introduced a 3% Digital Asset Tax (DAT) on
• Fredrick Ogutu - Senior Legal Associate, Bowman’s revenue from the sale of digital assets, effective September 1,
(Law Firm) 2023. This tax encompassed a wide range of assets, including
• Theophilus Matundura - Managing Partner, T.M.M & cryptocurrencies, NFTs, e-books, and other digital content.
Partners Advocate
The Kenya Revenue Authority required platforms to deduct
The primary aim of the Virtual Assets Strategic Policy (VASP) and remit this tax within 24 hours of the transaction. While
Hackathon was to position Kenya as Africa’s leading digital aimed at capturing revenue from the growing digital
asset hub and a crucial node in the global network of digital market, experts criticized the administrative burden and
asset hubs. This ambitious endeavor sought to position Kenya potential disincentives for traders, suggesting it could drive
at the forefront of technological innovation and financial trading to less regulated platforms.
prominence. The VASP Hackathon involved collaborative and
innovative activities focused on the formulation of policies
related to digital assets. Participants engaged in
brainstorming sessions, policy development workshops, and
discussions with industry experts to contribute to the
evolution of this critical field.

The hackathon looked into the 4 pillars of regulation

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Key Takeaways
• There is a need for a regulatory framework that
promotes innovation while ensuring compliance and
consumer safety. Specifically, there is a call for
real-time tax calculation systems integrated into
virtual asset service provider (VASP) platforms to
enhance transparency and fiscal responsibility.
• A flexible licensing approach for decentralize finance
(DeFi) platforms was advocated to retain developers
and entrepreneurs withinnKenya, preventing business
relocation due to more favorable regulatory
environments elsewhere.
• Additionally, regulatory safeguards are deemed
essential to protect consumers and promote trust,
particularly in sectors like trade, SMEs, logistics, and
supply chains.
• The balance between regulatory minimalism and
effective AML measures was highlighted to foster
sustainable economic growth through technological
advancements in the virtual asset sector.

KBCC 2024 Report | www.kenyablockchainandcryptoconference.co.ke

ii) Celo Workshop - Scale your Celo dApps with MiniPay
Facilitators The workshop highlighted the potential of
• Jordan Muthemba - Celo Ambassador: Kenya MiniPay to address the financial challenges
• Ronex Ondimu - Blockchain Developer, Celo Africa Dao faced by many in Africa, such as poor
infrastructure, high unemployment, and
The CELO workshop focused on scaling dApps with MiniPay, a new currency instability. By enabling seamless
web3 payments wallet developed by Opera in collaboration with the financial transactions and providing a stable
Celo Foundation. MiniPay, integrated with the Opera Mini browser way to store and send money using digital
for Android users, offers instant wallet-to-wallet fund transfers with assets, MiniPay aims to improve financial
minimal fees using mobile phone numbers. This wallet leverages inclusion and economic stability. The
Celo’s core infrastructure benefits, including sub-cent gas fees, collaboration between Opera and the Celo
rapid settlement times, and access to a diverse ecosystem of over Foundation underscores a commitment to
1,000 dApps. MiniPay is designed to be user-friendly and efficient, bringing affordable and accessible
catering to the African market with its low-power device decentralized finance (DeFi) to mobile users,
compatibility and simple onboarding process through Google. with an initial focus on Nigeria, Kenya, Ghana,
and South Africa. The workshop discussed the
The workshop highlighted the potential of MiniPay to address the upcoming technical migration of the Celo
financial challenges faced by many in Africa, such as poor network to an Ethereum Layer-2, enhancing
infrastructure, high unemployment, and currency instability. By security and scalability while maintaining low
enabling seamless financial transactions and providing a stable way gas fees, thereby expanding the potential for
to store and send money using digital assets, MiniPay aims to Ethereum-compatible dApps in the MiniPay
improve financial inclusion and economic stability. The ecosystem.
collaboration between Opera and the Celo Foundation underscores
a commitment to bringing affordable and accessibledecentralized
finance (DeFi) to mobile users, with an initial focus on Nigeria,
Kenya, Ghana, and South Africa. The workshop discussed the
upcoming technical migration of the Celo network to an Ethereum
Layer-2, enhancing security and scalability while maintaining low
gas fees, thereby expanding the potential for Ethereum-compatible
dApps in the MiniPay ecosystem.

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 Kenya Blockchain &
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9. Case Studies Presentation - Impact of bitcoin lightning in enhancing

cross border payments

The workshop highlighted the Presenter: Ry Sterling - BD, EMEA IBEX

9. Caseof
potential Studies Presentation
MiniPay to address - Impact
the of bitcoin lightning in enhancing cross border payments
Ry Sterling's presentation highlighted Bitcoin Lightning Network as a critical
financial challenges faced by many in component of Open Banking 2.0, demonstrating its role in addressing the
Presenter: Ry Sterling - BD, EMEA IBEX
Africa, such as poor infrastructure,
Ry Sterling's presentation highlighted Bitcoin challenges
Lightning ofNetwork
cross-border payments
as a critical such asof
component high
Open costs, slow 2.0,
Banking settlements,
high unemployment, and currency and excessive
demonstrating its role in addressing the challenges intermediaries.
of cross-border paymentsOpensuch
Banking
as high2.0costs,
aimsslow
to establish an open
settlements,
instability. By enablingseamless
and excessive intermediaries. Open Banking data
2.0network, while Lightning
aims to establish an openNetwork facilitates
data network, instant
while and cost-effective
Lightning Network
financial transactions and providing a
facilitates instant and cost-effective settlements. Together,
settlements. these innovations
Together, present
these innovations a potent
present solution
a potent to transform
solution to
global
stable way finance by and
to store enhancing speed, transparency,
send money and connectivity in transactions. This case study underscores
transform global finance by enhancing speed, transparency, and connectivity how
Bitcoin
using Lightning
digital assets, enhances Opento
MiniPay aims Bankingin2.0's potential to
transactions. revolutionize
This case studythe financial sector,
underscores making
how Bitcoin transactions
Lightning enhances
faster, more efficient, and
improve financial inclusion and transparent across borders.
Open Banking 2.0's potential to revolutionize the financial sector, making
economic stability. The collaboration transactions faster, more efficient, and transparent across borders.
between Opera and the Celo
Foundation underscores a
commitment to bringing affordable
and accessibledecentralized finance
(DeFi) to mobile users, with an initial
focus on Nigeria, Kenya, Ghana, and
South Africa. The workshop discussed
the upcoming technical migration of
the Celo network to an Ethereum
Layer-2, enhancing security and
scalability while maintaining low gas
fees, thereby expanding the potential
for Ethereum-compatible dApps in the
MiniPay ecosystem.

KBCC 2024 Report | www.kenyablockchainandcryptoconference.co.ke

 Kenya Blockchain &
Crypto Conference 2024

10. Beyond the Hype: Building User Trust in the Blockchain • Additionally, implementing thorough Know Your
Ecosystem Customer (KYC) protocols, verifying user identity and
Moderator: Frank Deya - Director, Satoshi Center & FOMO Weekly age, and checking against sanction lists are vital to
• Peter Mwangi - Country Manager, Yellow Card prevent fraud.
• Wycklife Sewe - Managing Partner, A&D Forensics East Africa • Building a strong infrastructure to trace transactions
• Paul McOlaka - Co-Founder & CEO, ABYA University and incorporating advanced security measures,
• Victor Missoy - VP Marketing TapSwap such as firewalls, can protect against hacking.
• Educating users on distinguishing genuine entities
The blockchain ecosystem is often plagued by hype and from fakes and safeguarding their assets is essential,
skepticism, making it crucial to build trust and transparency for alongside maintaining transparent communication,
users. This panel discussion brought together industry leaders providing guidance, and creating avenues for users
from exchanges, forensic experts, investors, educators, and to ask questions and receive credible answers.
marketers to delve into the multifaceted challenges and
opportunities in fostering user trust. They explored practical
solutions, regulatory considerations, educational initiatives, and
marketing strategies that can create a more secure and accessible
blockchain ecosystem for all.

Key Takeaways
• The initial adoption of blockchain technology by bad actors
created a significant trust deficit, making it essential to focus on
security, reliability, and robust customer support to assure users
they can trade, access, and withdraw funds whenever needed.
• The lack of local offices for early adopters has led to inadequate
consumer education, resulting in uninformed trading practices.
To address this, developing user-friendly onboarding and
trading applications is crucial.

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 Kenya Blockchain &
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11. Town Hall Session

11. Moderators:
Town Hall Session Key Takeaways
• Mukiri
Moderators: Mwirigi - Business Engineer The town • hall session was
Additionally, an interactive
a traditional forum
finance where participants
mindset and shy
• Charles Owiti - Advocate, High Court of Kenya shared their experiences,
regulatory insights, and
engagement challenges
also pose related
barriers to to the
• Mukiri Mwirigi - Business Engineer
Panelists four pillarsprogress.
of KBCC: Fostering Adoption, Promoting Innovation,
• Charles Owiti - Advocate, High Court of Kenya
• Edward Karani - Product Lead, GoChapaa • The session addressed the low interest inand
blockchain
Addressing Regulatory Framework Challenges, Building
• George Mwakisha - Blockchain Africa Growth Expert skills and the gap between education and job
Panelists Collaboration and Partnerships. This session encouraged open
• Eric Jackson - Co-Founder & CEO Invest with Hisa opportunities. Tobetween
foster adoption, experts need to The
• Edward Karani - Product
• Allan Ong’ang’a Lead,
- Director of GoChapaa
Business Development & dialogue and engagement speakers and attendees.
simplify blockchain terminology and engage with
• George Mwakisha
Outcomes, Moringa- Blockchain
School Africa Growth Expert town hall session highlighted several key challenges and
the communities they aim to serve, developing
• Elizabeth
• Eric JacksonNdung’u - Director
- Co-Founder & CEODigital
InvestEconomy
with Hisaand Startupsopportunities in adopting blockchain and fintech innovations in
hybrid products that integrate traditional and
• AllanNairobi County
Ong’ang’a - Director of Business Development Kenya. modern financial systems.
• Sarah Waihinya - Co-Lead, Women in DeFI
& Outcomes, Moringa School • Participants
• A significant suggested
issue discussed was leveraging
the lack of blockchain for
technical expertise,
Key Takeaways governmenttending
applications like microfinance groups
• Elizabeth
The townNdung’u - Director
hall session was anDigital Economy
interactive forumandwhere with the government to collaborate only in areas with
Startups and digital identities
established tech proficiency. to streamline data
participants shared their experiences, insights, and management and enhance security.
• Sarah Waihinya
challenges - Co-Lead
related to theWomen of KBCC: Fostering • Participants emphasized the need for more relatable case
in DeFI
four pillars
Adoption, Promoting Innovation, Addressing Regulatory studies and established policies to foster growth in the sector.
Framework Challenges, and Building Collaboration and • A significant issue discussed was the lack of technical expertise,
Partnerships. This session encouraged open dialogue and with the government tending to collaborate only in areas with
engagement between speakers and attendees. The town hall established tech proficiency.
session highlighted several key challenges and opportunities • Participants emphasized the need for more relatable case
in adopting blockchain and fintech innovations in Kenya.
studies and established policies to foster growth in the sector.
• A significant issue discussed was the lack of technical• The complexity of financial technology products and jargon
expertise, with the government tending to collaborate only hindered understanding and adoption, particularly among older
in areas with established tech proficiency. generations.
• Participants emphasized the need for more relatable •case Additionally, a traditional finance mindset and shy regulatory
studies and established policies to foster growth in the engagement also pose barriers to progress.
sector.
• The complexity of financial technology products and
jargon hindered understanding and adoption, particularly
among older generations.

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 Kenya Blockchain &
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•12. The session

Spotlight addressed the low interest in blockchain
Session a. Kotani Pay
skills and the gap between education and job Kotani Pay is an on-ramp/off-ramp service that connects
KBCC 2024 soughtTo
opportunities. to foster
highlight and amplify
adoption, the work
experts needofto Web3 users to local fiat across Africa. As pioneers in
impactful
simplifyblockchain
blockchainprojects in Africa.
terminology andThe focuswith
engage wasthe revolutionizing remittance services across Africa, Kotani
on communities
impact and how they aim to serve, developing to
to communicate it effectively hybrid Pay is here to make sending money simpler, faster, and
make blockchain a mainstream force for good
products that integrate traditional and modern across
more secure than ever before. With Kotani Pay, sending
the continent. Nine blockchain projects were
financial systems. funds across Africa is as easy as a few clicks. Their innovative
spotlighted and celebrated at the conference.
• Participants suggested leveraging blockchain for approach involves converting your money into
government applications like microfinance groups and stablecoins – digital cash that's not only highly secure but
digital identities to streamline data management and also incredibly stable. This means your funds arrive quickly,
enhance security. cheaply, and most importantly, safely. Kotani Pay provides
full blockchain wallet functionality on interfaces already
familiar to their target customers like sms and ussd. It
12. Spotlight Session currently works on both smartphones and feature phones
KBCC 2024 sought to highlight and amplify the work of ensuring no switching costs for customers as they switch
impactful blockchain projects in Africa. The focus was from sms phones to smartphones.
on impact and how to communicate it effectively to
make blockchain a mainstream force for good across
the continent. Nine blockchain projects were
spotlighted and celebrated at the conference.

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 Kenya Blockchain &
Crypto Conference 2024

b. Aquapurge Project
b. Aquapurge
Aquapurge Project the power of Web3 and Regenerative
leverages
Finance to incentivize ocean cleanup efforts, utilizing
Aquapurge
blockchain leverages to
technology the powerparticipants,
reward of Web3 andengage
Regenerative Finance to incentivize ocean
communities, and drive environmental and economic
cleanup efforts, utilizing blockchain technology to
sustainability for a cleaner, healthier planet.Their goal is to raise
reward participants, engage communities, and
awareness about this critical
drive environmental issue and
and economic create a comprehensive
sustainability
global database
for a cleaner, of polluted
healthier shorelines.
planet.Their goalArmed with this data,
is to raise
they can strategically
awareness about thistarget cleanup
critical efforts
issue and where
create a they matter
most. They have so
comprehensive far collected
global database 2,553KGs of trash including
of polluted
shorelines.
plastic, glass and other harmful items. Their mission is simple
yet powerful: to engage communities by incentivizing them to
Armed
report withsightings,
trash this data,participate
they can strategically
in clean uptarget
efforts, and take
cleanup efforts where they matter most. They
decisive action against ocean pollution.
have so far collected 2,553KGs of trash including
plastic, glass and other harmful items. Their
mission is simple yet powerful: to engage
communities by incentivizing them to report trash
sightings, participate in clean up efforts, and take i. NexusPay
decisive action against ocean pollution. NexusPay leverages blockchain technology to provide seamless,
secure, and efficient transactions for users across Africa. Their
platform bridges the gap between crypto and fiat currencies,
enhancing financial inclusion and accessibility. NexusPay
simplifies instant money transfers, including pay- ments to
non-users via M-Pesa and merchants through stablecoin-to-fiat
conversions. Its vision is to revolutionize financial transactions in
Africa by promoting financial inclusion and enabling seamless
crypto spending.

KBCC 2024 Report | www.kenyablockchainandcryptoconference.co.ke

 Kenya Blockchain &
Crypto Conference 2024

c. TapSwap
c. TapSwap
TapSwap
TapSwap is an
is an innovative
innovative fintech
fintech company
company revolutionizing the
revolutionizing
financial landscape the financial
through thelandscape through the
use of blockchain technology
anduse of blockchain
advanced APIs.technology
By offeringand a advanced APIs. integrates
platform that
By offering a platform that integrates seamlessly
seamlessly with various financial institutions, TapSwap aims to
with various
provide real-time financial institutions,
transaction TapSwap
settlements andaims to
financial data
provide
access, real-time
enhancing transaction
the efficiencysettlements and of financial
and transparency
financial data access, enhancing the efficiency and
operations.
transparency of financial operations.
d. One Million Avocados
One Million Avocados (OMA) is a groundbreaking initiative that
d. One Million Avocados
aims to increase the production and quality of avocados in East One Million Avocados (OMA) is a groundbreaking initiative
Africa through precision farming.OMA exemplifies how that aims to increase the production and quality of
integrating modern technology in agriculture can revolutionize avocados in East Africa through precision farming.OMA
agriculture in Africa. They enhance efficiency, increase exemplifies how integrating modern technology in
transparency and promote global investment through NFTs. agriculture can revolutionize agriculture in Africa. They
Their aim is to expand technological applications and enhance efficiency, increase transparency and promote
potentially replicate their success in other regions and with global investment through NFTs. Their aim is to expand
other crops. technological applications and potentially replicate their
success in other regions and with other crops.
e. alphabloQ
Alphabloq is a game-changing platform that leverages the power of blockchain technology and asset tokenization to
e. alphabloQ
Alphabloq access
democratize is a game-changing
to real estate platform
investments.that Our
leverages the enables
platform power ofboth
blockchain technology
individual and asset
and institutional tokenization
investors to in
to invest
democratize
fractional access
ownership ofto real estateproviding
properties, investments. Ouraccessible
a more platform enables both individual
and diversified investmentandoption.
institutional investors to invest in
fractionalwas
Alphabloq ownership
recentlyof properties,
admitted to providing
the Capital a more
Marketsaccessible
Authorityand diversifiedSandbox
Regulatory investment option. which marks a huge
programme
Alphabloq was recently admitted to the Capital Markets Authority Regulatory Sandbox
milestone in the Kenyan web3 space. The sandbox is a special testing ground for innovative financial products programme which marks a huge
and services
milestone
It allows in the Kenyan
companies web3 space.
like alphabloQ The sandbox
to experiment withistheir
a special
ideastesting ground for
in a controlled innovative with
environment financial products
less strict and services
regulations.
It allows companies like alphabloQ to experiment with their ideas in a controlled environment with less
The sandbox aims to foster creativity in Kenya's financial sector while prioritizing investor protection and market stability. By strict regulations.
The sandbox
testing aims to
new concepts infoster creativity
the sandbox, in Kenya'scan
companies financial
refine sector while prioritizing
their offerings and the CMAinvestor
can protection
gain valuableandinsights
marketinto stability.
By testing
emerging new concepts
financial in the This
technologies. sandbox, companies
collaborative can refine
approach their
paves theofferings
way for and the CMA
a secure andcan gain valuable
innovative future insights into
for Kenyan
emerging
capital markets. financial technologies. This collaborative approach paves the way for a secure and innovative future for Kenyan
capital markets.

KBCC 2024 Report | www.kenyablockchainandcryptoconference.co.ke

 Kenya Blockchain &
Crypto Conference 2024

f. InvestaFarm
c. TapSwap
Investa Farm is leveraging AI and blockchain to
TapSwap is anagricultural
revolutionize innovative fintech company
financing, revolutionizing the
empowering
financial landscape
farmers across Africa. through the use of blockchain technology
and advanced APIs. By offering a platform that integrates
seamlessly with various financial institutions, TapSwap aims to
provide real-time transaction settlements and financial data
access, enhancing the efficiency and transparency of financial
g. Kiboko DAO
operations.
Kiboko DAO is a Decentralized Autonomous Organization
(DAO)
d. One focused on fostering a collaborative and inclusive
Million Avocados
environment
One for Web3
Million Avocados communities
(OMA) in Africa. They
is a groundbreaking offer that
initiative
educational resources and workshops to build capacity,
aims to increase the production and quality of avocados in East
while fostering
Africa a collaborative
through precision community
farming.OMA throughhow
exemplifies online
forums andmodern
integrating events. They also champion
technology African
in agriculture cantalent by
revolutionize
providing a platform like JamboNFT for artists
agriculture in Africa. They enhance efficiency, increase to tokenize
and showcaseand
transparency theirpromote
work globally.
globalFurthermore, Kiboko NFTs.
investment through
DAO encourages open-source development
Their aim is to expand technological applications and of solutions
for African challenges. Overall, they act as a catalyst for
potentially replicate their success in other regions and with
Web3 adoption and innovation on the continent.
other crops.
h. Mbogi ya NFT
e. alphabloQ Mbogi ya NFT is a hub for Kenya's NFT enthusiasts. They
Alphabloq is a game-changing platform that leverages the power of blockchain
focus technology
on educating membersand about
asset tokenization to
creating, trading, and
democratize access to real estate investments. Our platform enables both individual and institutional investors
appreciating NFTs. They achieve this through workshops, to invest in
fractional ownership of properties, providing a more accessible and diversified
events, investment
and fostering option.
a strong online community. Their
Alphabloq was recently admitted to the Capital Markets Authority Regulatory
efforts have been Sandbox programme
instrumental in thewhich
growth marks a huge
of Kenya's
milestone in the Kenyan web3 space. The sandbox is a special testingNFTground for innovative
scene, even garneringfinancial products
recognition and services
from organizations
It allows companies like alphabloQ to experiment with their ideas inlike the Kenya environment
a controlled NFT and AI Summit. Mbogi
with less strictya NFT
regulations.
empowers
The sandbox aims to foster creativity in Kenya's financial sector while Kenyan
prioritizing artists
investor and creators
protection by providing
and market a By
stability.
platformand
testing new concepts in the sandbox, companies can refine their offerings for them
the CMAto connect,
can gainshowcase their work,
valuable insights intoand
potentially benefit from exclusive membership
emerging financial technologies. This collaborative approach paves the way for a secure and innovative future for Kenyan perks.
capital markets.

KBCC 2024 Report | www.kenyablockchainandcryptoconference.co.ke

 Kenya Blockchain &
Crypto Conference 2024

f. InvestaFarm
Investa Farm is leveraging AI and blockchain to revolutionize
i. NexusPay
agricultural financing, empowering farmers across Africa.
NexusPay leverages blockchain technology to provide seamless, secure, and efficient
transactions for users across Africa. Their platform bridges the gap between crypto and fiat
currencies,
g. Kiboko DAOenhancing financial inclusion and accessibility. NexusPay simplifies instant
money
Kiboko transfers,
DAO including payments
is a Decentralized to non-users
Autonomous via M-Pesa and merchants through
Organization
(DAO)stablecoin-to-fiat conversions.
focused on fostering Its visionand
a collaborative is toinclusive
revolutionize financial transactions in Africa
environment for Web3 communities in Africa. Theyseamless
by promoting financial inclusion and enabling offer crypto spending.
educational resources and workshops to build capacity, while
fostering a collaborative community through online forums
and events. They also champion African talent by providing a
platform like JamboNFT for artists to tokenize and showcase
their work globally. Furthermore, Kiboko DAO encourages
open-source development of solutions for African challenges.
Overall, they act as a catalyst for Web3 adoption and
innovation on the continent.

h. Mbogi ya NFT
i. NexusPay
Mbogi ya NFT is a hub for Kenya's NFT enthusiasts. They focus
NexusPay leverages blockchain technology to
on educating members about creating, trading, and
provide seamless, secure, and efficient transactions
appreciating NFTs. They achieve this through workshops,
for users across Africa. Their platform bridges the gap
events, and fostering a strong online community. Their efforts
between crypto and fiat currencies, enhancing
have been instrumental in the growth of Kenya's NFT scene, financial inclusion and accessibility. NexusPay
even garnering recognition from organizations like the Kenya simplifies instant money transfers, including
NFT and AI Summit. Mbogi ya NFT empowers Kenyan artists payments to non-users via M-Pesa and merchants
and creators by providing a platform for them to connect, through stablecoin-to-fiat conversions. Its vision is to
showcase their work, and potentially benefit from exclusive revolutionize financial transactions in Africa by
membership perks. promoting financial inclusion and enabling seamless
crypto spending.

KBCC 2024 Report | www.kenyablockchainandcryptoconference.co.ke

 Kenya Blockchain &
Crypto Conference 2024

Networking
KBCC offered exceptional networking opportunities, bringing
together industry leaders, innovators, investors, policymakers, and
enthusiasts. Attendees had the chance to connect through various
sessions, including keynote speeches, panel discussions, and
interactive workshops. The event featured dedicated networking
breaks, an exhibition area showcasing blockchain solutions, and
exclusive networking receptions. A highlight was the vibrant
Ankara-themed party, where participants celebrated African culture
while forging meaningful connections. These interactions fostered
collaborations and the exchange of ideas, driving the advancement
of blockchain technology and cryptocurrency adoption across Africa.

Reflections on the Event (Learnings)

• Education is Key: Integrating crypto and blockchain education into STEM programs, especially at Kenyan technical training
institutions, will be crucial for future workforce readiness.
• Building Talent for Success: Developing blockchain talent requires a targeted approach. We need to identify promising
individuals, provide them with the necessary skills, and integrate them into the industry.
• Focus on Real-World Needs: Blockchain solutions in Africa should prioritize addressing basic needs first, before exploring more
complex applications.
• Fintech as a Bridge: The "Fintech effect" is helping traditional banks adopt blockchain technology by making it more accessible
and familiar.
• AI and Blockchain: A Powerful Duo: The intersection of AI and block- chainpresents exciting possibilities for financial inclusion
and data monetization. However, AI solutions need to be tailored to local problems.
• RegTech solutions: The emergence of regulatory technology (RegTech) solutions is aiding compliance efforts by automating
processes, enhancing transparency and streamlining reporting requirements, thereby reducing compliance burdens for
start-ups and developers in the web3 and virtual assets space.

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 Kenya Blockchain &
Crypto Conference 2024

Challenges and Opportunities

Challenges
• Regulatory frameworks for blockchain and cryptocurrencies are still evolving in many countries, creating uncertainty for
businesses and individuals.
• The risk of hacks, scams, and other security breaches can deter potential users from entering the blockchain and crypto
space.
• Some blockchain platforms struggle to handle a large volume of transactions, which can limit their adoption.
• Many people still lack a basic understanding of blockchain technology and its potential applications.
• As highlighted previously, the industry currently leans towards male participation. Encouraging more female participation
is crucial for a balanced ecosystem.

Opportunities
• Blockchain technology offers significant opportunities to enhance financial inclusion by providing unbanked populations
with access to financial services. Participants discussed various initiatives and projects aimed at leveraging blockchain to
create more inclusive financial systems.
• The conference highlighted the potential for blockchain to foster innovation and entrepreneurship in Africa. There are
numerous opportunities for developing new blockchain-based solutions that address local challenges and create economic
value.
• Blockchain can streamline cross-border transactions, reducing costs and increasing efficiency for remittances and
international trade. This was seen as a major opportunity to boost economic activity in the region.
• Implementing blockchain in supply chains can enhance transparency, traceability, and accountability. This can be
particularly beneficial for industries such as agriculture, where tracking product origins and quality is essential.
• The conference emphasized the importance of collaboration between various stakeholders, including governments, private
sector players, and academia for a thriving ecosystem. Building partnerships can accelerate the development and adoption
of blockchain technologies.
• Stablecoins and decentralized finance (DeFi) were identified as key areas of growth. These technologies can provide more
stable financial instruments and innovative financial services, contributing to the stability and expansion of the crypto
ecosystem.
• There is a strong opportunity to invest in educational initiatives that can bridge the knowledge gap, improve digital literacy,
and train the next generation of blockchain and crypto experts.

KBCC 2024 Report | www.kenyablockchainandcryptoconference.co.ke

 Kenya Blockchain &
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Feedback and Testimonials

Kenya Blockchain Ladies DAO Vincent Leteipa

Wycklife Sewe This event provided an excellent opportunity for This event was a masterclass in organization,
our ladies to learn, network, and immerse with a lineup of brilliant speakers and a
This remarkable two-day event brought themselves in this growing blockchain community buzzing with enthusiasm.
together a diverse group of professionals, ecosystem.The conference was exceptionally well
including developers, legal experts, venture organized, and we are thrilled to witness the
capitalists, exchanges, and security specialists growth and innovation within the industry.
from around the globe, all focused on the Lawrence Maina
pivotal role of blockchain in shaping Africa's
economic landscape. The conference highlighted a strong consensus:
Peter Mwangi Africa can leverage the power of Web3 to tackle
its historical challenges and propel itself towards
The discussions on fostering user trust in the the next stage of industrial development – the
Elizabeth Ndung’u blockchain ecosystem were particularly Fourth Industrial Revolution.
insightful, and I appreciate the opportunity to
It was an incredible experience to engage with have participated in the panel discussion. The
industry leaders, share the vision for Nairobi caliber of speakers and the diverse range of Nelly Njeri
City County Digital Economy and Startups while topics covered made the event valuable for
listening to insights on latest advancements everyone involved.
and future trends in blockchain and crypto. my belief in the transformative power of
blockchain in Africa.

Ibrahim Aziz

The highlight for me was the Spotlight Session, Edward Nwokedi

Mutembei Kariuki
where The AquaPurge Project was recognized
as one of the most impactful and promising It was a pleasure seeing the hunger for knowledge
It was refreshing to hear about the real world in the students who absorbed every word
application of AI and blockchain. Thank you to African projects. Feeling honored and
motivated by this recognition, and excited during the panel discussions on blockchain
the Chasing Mavericks team for organizing a concepts and practices. This demographic
great convergence of minds for the future of blockchain in Africa!
represents our future customers and
collaborators, our Blue Ocean.

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 KENYA BLOCKCHAIN &
CRYPTO CONFERENCE 2024
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Get in Touch with Us:

Office Line: +254 720 010 020
Email: [email protected]
Website: www.kenyablockchainandcryptoconference.co.ke

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