World Bank report states support for M-Akibablockchain based initiative
According to the World Bank in a new report, the World Bank is supporting a mobile phone based bond called M-Akiba being carried out by the Kenyan government. The government has raised $1.1.million and is considering how Blockchain can improve the issuance process. The World Bank report states that it will support the Kenyan government with marketing research on the use of Fintech technology in distributed ledger.
In parallel, the CBK is also finalizing the Treasury Mobile Direct (TMD) which would be the mobile channel for existing retail investors into government bonds (about 8000) and would allow the separation of retail and wholesale investors in the primary auction. With Blockchain beneath the new project, its key asset of ensuring transaction immutability having eliminated the need for an enforcer of trust in the ecosystem would be valuable for M-Akiba.