{"id":8739,"date":"2021-06-25T04:54:50","date_gmt":"2021-06-25T04:54:50","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/un-kenyan-mission-praises-local-blockchain-based-initiative-for-helping-to-reduce-poverty\/"},"modified":"2021-06-25T04:54:50","modified_gmt":"2021-06-25T04:54:50","slug":"un-kenyan-mission-praises-local-blockchain-based-initiative-for-helping-to-reduce-poverty","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/un-kenyan-mission-praises-local-blockchain-based-initiative-for-helping-to-reduce-poverty\/","title":{"rendered":"UN Kenyan Mission Praises Local Blockchain-Based Initiative for Helping to Reduce Poverty"},"content":{"rendered":"

The United Nations (UN) mission in Kenya recently praised a local blockchain-based community inclusion currency (CIC) initiative for its part in helping to reduce poverty in one of the country\u2019s poor informal settlements. The mission\u2019s sentiments follow a tour of the Mukuru informal settlement by its resident coordinator, Stephen Jackson. In a tweet, the mission commended the Sarafu blockchain anchored e-voucher system for helping \u201cvulnerable households access basic needs.\u201d<\/strong><\/p>\n

An Alternative Medium of Exchange<\/h2>\n

In a different tweet<\/a>, UN Kenya also praised residents of the informal settlement for their embrace of the Sarafu blockchain-based e-vouchers system. The world body further added that by using this trading system, the Mukuru informal settlement is \u201cencouraging local circular economy and reducing poverty levels.\u201d<\/p>\n<\/p>\n

According to past remarks<\/a> attributed to Will Ruddick \u2014 one of the co-authors of a whitepaper document that explains the novel monetary system \u2014 CICs are shares that are \u201cacting as a medium of exchange.\u201d Another report explains these currencies also act as a store of value in times of economic turbulence and hyperinflation.<\/p>\n

<\/p>\n

In the meantime, in his own tweet<\/a> on June 16, Ruddick again explains how blockchain-based e-vouchers can be useful in times of economic difficulty. He said:<\/p>\n

Sarafu is a Community Inclusion Currency that communities can use to trade with each other when the national currency is scarce. It utilizes an application-specific blockchain Bloxberg as a backend ledger with a USSD interface for people without internet.<\/p>\n

Empowering Marginalized Communities<\/h2>\n

The Sarafu CICs \u2014 initially anchored on the Bancor protocol \u2014 are championed by Grassroots Economics<\/a>, a Kenyan non-profit foundation that seeks to empower marginalized communities. On its website, the foundation says it has \u201cimplemented community currency programs in 45 locations across Kenya and assisted with 2 in South Africa.\u201d In addition, the foundation claims to have helped \u201cmore than 40,000 small businesses, churches and schools take an active role in their own economy and development.\u201d<\/p>\n

Meanwhile, in addition to getting recognized by the UN Resident Coordinator, the Sarafu CIC initiative has also received support from Kenya Red Cross.<\/p>\n

What do you think of the Sarafu CICs? You can share your views in the comments section below. <\/strong><\/em><\/p>\n

Bitcoin News
\nBlockchain, Bloxberg blockchain, community inclusion currency, e-voucher, Grassroots Economics, medium of exchange, national currency, united nations<\/p>\n","protected":false},"excerpt":{"rendered":"

The United Nations (UN) mission in Kenya recently praised a local blockchain-based community inclusion currency (CIC) initiative for its part in helping to reduce poverty in one of the country\u2019s poor informal settlements. The mission\u2019s sentiments follow a tour of the Mukuru informal settlement by its resident coordinator, Stephen Jackson. In a tweet, the mission…<\/p>\n","protected":false},"author":0,"featured_media":8740,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8739"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8739"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8739\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8740"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}