TL;DR Breakdown
• Kilifi citizens receive 50 free Sarafu when creating their wallets.
• Crypto could be linked to Cobalt and reach all of Africa.
Crypto has set a pattern in all corners of the world, and this time it’s up to Kenya. The East African country has used the new Blockchain-backed technology for agricultural fields and is succeeding.
At one of Kilifi’s farms, close to the coast in the Indian Ocean, a young farmer uses cryptocurrencies as payment. Emmanuel Kahindo, who uses the land to grow vegetables, uses the crypto Sarafu to establish his economy without fiat currencies. The farmer does not need to have Kenyan currency to buy his food or implements for the plow because he has the crypto.
The Sarafu crypto has been of great help, and many citizens in Kenya, like Emmanuel, take advantage of it daily. Even the token’s volatility makes the farmer earn money just by storing it in his electronic wallet.
Sarafu may change Kenya’s economy
The Sarafu token serves as a coupon that can cover services or other goods as if it were fiat currency. Any citizen in Kenya with a mobile phone can use the token; users also receiving 50 free tokens. After that, they can earn the tokens by selling their agricultural products.
The crypto is also taken as a CIC or community currency that leaves out banking transactions. Citizens in Kenya can save time using the token from home without going to a bank.
Where did the cryptocurrency come from?
Sarafu was created by an American who used his charity to advance technology in the East African country. The cryptocurrency has reached various areas in Kenya, including Kilifi. Since its launch, the token is a profitable solution for farmers without access to banks.
Will Ruddick, the token’s creator, thinks that the crypto fills the void left by the absence of Kenya’s fiat currency. Several merchants in the locality benefit from the token and have even been able to advance economically.
An economics professor at Nairobi University believes that crypto has potential. The teacher says that Sarafu has enough talent to fill all of Kenya and Africa. However, the technology is still very new, so very few people have adopted it.
Among the opinions that experts give about the token, they talk about its value against Cobalt. This chemical element abundant in the Congo Republic can hold onto crypto and help the country’s economy. It is a proposal in which several Kenyan citizens and economists support having a free economic landscape.
Meanwhile, the token will continue to be adopted in Kilifi for agricultural production. Crypto may increase in popularity over time, and cause citizens to put the Kenyan currency aside.
