Kenyan Developers To Rollout First Crypto Blockchain
The TMX crypto will seek to enhance market transparency while eliminating rampant cases of illegal trade.
TMX To Develop Kenya’s First Cryptocurrency
Kenya is set to get her first cryptocurrency by the end of next month. The crypto will be based on a blockchain and developers expect to the role it out in May 2019.
The crypto dubbed TMX Global Coin will immediately be rolled out in the trading sector to tackle logistic challenges in Africa. It is expected to be adopted in the import and export business.
According to TMX boss, Anthony Njoroge, the major problem has been the loss of products during importation and the crypto seeks to end the issue. He opines that the system will rid the industry from corruption, and black market around cargo. The open platform will enable all users to interact with one another.
The coin is set to partner with peers in Asia and Europe.Clients will be able to select their preferred freight firms for cargo forwarding. The game changer in the crypto will be backed by an interface that has been deemed convenient. Njoroge further added that customers will buy goods and track their movement individually at the supply level.
Customers To View Products Real-Time
He said traders will determine the approximate cost of goods in time. Once the client receives his goods, the system will indicate success.
Generally, the TMX system seeks to make it easier for clients to transact easily without fear of losing goods or money.
The development comes after the country’s election body, IEBC announced that it will deploy blockchain as a means of improving efficiency.