Bancor Launches Community Currencies Initiative in Kenyan Neighborhoods

[kreslik.news]

On June 18, cryptocurrency network Bancor has announced the launch of what is described as “blockchain-based community currencies” in Kenya. According to an official statement from the company, the currencies have been developed to “[combat] poverty through the stimulation of local and regional commerce and peer-to-peer economic collaboration.”

The currencies will be seeded with money raised during Bancor $153 million ICO in June of last year. The initiative will be supervised by Will Ruddick, Bancor’s Nairobi-based Director of Community Currencies. Prior to this position, Ruddick built Grassroots Economics, a nonprofit that builds community currencies. The nonprofit is ... (read more)