Isaac Muthui is defying odds by being one of the few Africans to introduce a cryptocurrency that targets Africans. The computer science graduate has invested Sh15 million in developing Nuru Incorporated, which has introduced the first African cryptocurrency, Nuru coin.
VCapital FM interviewed Mr Muthui about Nuru Coin, blockchain technologies and the future of digital currency.
What exactly is Nuru Coin?
Nuru Coin is a token developed over the ethereum (open source computing platform for blockchain), which seeks to solve problems of payment in intra-Africa trade and cross-border and business to customer marketplace. Simply, it is the use of blockchain technology.
RELATED: How to get started with Bitcoin
The world is currently gravitating towards block chain technology. We have come a long way from internet of information where we exchanged information, and then we went to internet of things where people could use the internet to exchange things, ‘artificial intelligence’. Now we are currently in the internet of finding, which is characterized by block chains – storing information in a decentralized format.
What was the motivation behind starting Nuru Coin?
Our goal with Nuru Coin is to handle transparent intra-Africa trade. It is also meant to encourage Africans to trade among themselves instead of over-relying trading with other regions. Currently, Africa trades with the rest of the world at 66 percent but only trades with itself at 11 percent. This needs to change.
How different is what you are doing from what everyone else is doing?
We are more focused on building block chains and not just cryptocurrencies. Cryptocurrencies, which are digital assets, begin as a way of giving people incentives. On the other hand, blockchain are storing records on chronological order. As such, cryptocurrencies cannot survive without blockchains, but block chains can. Using blockchain technology, you can solve a lot of problems. On the other hand, cryptocurrencies are used either as a store of value, or as a medium of exchange.
How much is a Nuru Coin?
We are currently selling one Nuru coin at Sh10 on presale, which is targeting global joint ventures, but the price for the cloud sale will begin later in February with price to be announced then.
How do I purchase Nuru Coin?
By simply logging into our site, register, participate by indicating how many coins you get and then follow the instructions. (Source: Capital FM)
LISTEN TO ISAAC MUTHUI
NEXT READ: Understanding how bitcoin investment works
Ruto promises tough action of corrupt individuals
Deputy President calls on the Director of Public Prosecution and the Ethics and Anti-Corruption Commission to move fast and bring...
Shaving pubic hair increases STIs risk, survey shows
Pubic hair grooming has also been linked to an increased number of sexual partners, as people that frequently groom their...
Protests as police force bearded female tout to undress
The abnormal, excessive growth of thick hair in areas not commonly associated with women is as a result of hirsutism,...
Top Pipeline officials homes raided in Sh647m fraud probe
EACC CEO Halakhe Waqo said anti-graft detectives seized several documents and records from the raided homes, and would use them...
Law firm to appeal 15-year jail term for woman who slept with 16-year-old boy
In her defence, Judith Wandera said looking at his physical appearance, the boy did not appear a minor
CITAM signs deal to live stream church services to Gen Z
Church says network will enable it to faithfully live out its vision with this generation, which comprises the pre-churched, un-churched...
Kenya now blacklists Miguna Miguna
The move is seen as aimed at avoiding another ugly specter at the Jomo Kenyatta International Airport similar to the...
British pensioner guilty of Kenya ‘holiday ‘ rape charges
The Crown Prosecution Service (CPS) said Keith Morris, 72, befriended the young victims' families over the past 20 years, giving...
US surrogacy agency withdraws from ‘perilous’ Kenya
Sensible Surrogacy now recommends new lower-cost programmes in the United States, which it says are completely safe and have the...
Kenya to reform laws to enhance biodiversity conservation
Tobiko says the ministry of Environment has formulated and reviewed laws and regulations to implement the provisions of the constitution...