Technology

Blockchain roots deepen in Kenya

Bitcoin. Adoption of blockchain technology is changing how people carry out business today. FILE PHOTO | NMG
Bitcoin. Adoption of blockchain technology is changing how people carry out business today. FILE PHOTO | NMG 

Blockchain Technology (BT) use is gaining momentum in Kenyan private and public sphere spanning security, transport, health, insurance and motor vehicle sectors.

Blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial deals, but virtually everything of value.

It is an ingenious invention – the brainchild of a person or group of people known by the pseudonym Satoshi Nakamoto.

By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. Originally devised for the digital currency Bitcoin, the tech community is now finding other potential uses for the technology.