Its About Sharing
Legendary
*
Offline Offline

Activity: 1386
Merit: 1000


Antifragile


View Profile Personal Message (Offline)

Ignore
July 09, 2013, 08:14:58 AM

This
Quote
Kipochi as Bitcoin <-> M-PESA exchange in Kenya
is actually the best positive news for Bitcoin I've heard in a long time and something that could actually make Bitcoin the currency it dreams of being.  I think the potential of this, is being greatly underestimated by some.  M-PESA is already doing something like 30% of GDP.  The addition of Bitcoin could push this as high as 50% or more, as people move away from sources required for things like Western Union.  All speculation but if this catches, it could spread like wildfire to other countries. This is actually news worthy and worth keeping a close eye on.
I would agree if kipochi wouldn't look soooo cheap. They have more typos than sentences on their barely professional page and no updates in a while, so I want them to proof themselves first. Their mpesa partner is not affiliated to mpesa aka some guy who's using his private mpesa account to manually funnel transactions?
I call this vaporware and would take bets that they don't process 1000 transactions within the next 3 months or prior to having serious issues. Total noobs trying to do finance at best. Maybe just some pump and dump.

I read an article about a relatively recent experiment where they dropped off some computers in a few villages with zero instructions. It was a short matter of time before those "village people" figured out not only how to hack, communicate and make those little bad boys fully functional but overall became computer experts and not just literate. The creativity they expressed was unexpected. Don't overlook the vacuum created in third world countries for knowledge.