Loading

wait a moment

Bancor Enables Blockchain Trading in Kenya for Local Transactions

bitcoin social trading

shiny golden BANCOR cryptocurrency coin on blurry background with euro money. Source: shutterstock.com

Bancor Wallet just enabled the first sale of common goods from a local store in Kenya, where the first tomatoes were sold through the POA Network, offering zero fees and swift payments on the local level while utilizing the Bancor Wallet as a tool against poverty.

Bancor Wallet Made the First Local Blockchain Trade in Kenya

Will Ruddick, the director of community currencies at Bancor, wrote in an official post on Medium:

“Thanks to Bancor, blockchain is finally becoming a tool we can use to fight poverty.”

A new era for Kenyan local stores and shops started out with a handy digital wallet, the Bancor Wallet, as Ruddick made a statement about field-testing the wallet service.

The testing turned out to be a success as the Bancor Wallet enabled the first trade via blockchain, allowing a local seller from Mombasa to trade the first tomatoes using blockchain technology, deeming this moment as groundbreaking for fighting poverty.

Bancor is working through the POA Network, which actually represents a platform existing on Ethereum’s side chain, allowing users on a local level to exchange their goods for currency with zero fees and within a short processing time.

All Bancor users can now easily make trades in Kenya with assured transparency of personal transaction records and the ability to make fast blockchain payments with zero fees.

Bancor Is Dictating Blockchain Revolution in Kenya

Besides offering swift payments and low fees for local transactions in Kenya, Bancor is offering the use of smart contract technology and Bancor protocol in order to enable end users to easily convert community currencies through built-in convertibility.

By utilizing Bancor for local payments through blockchain, the targeted communities could easily begin their exit from poverty while increasing trade on a local scale.

Bancor Enables Blockchain Trading in Kenya for Local Transactions was originally found on [blokt] – Blockchain, Bitcoin & Cryptocurrency News.