Facebook launches M-Pesa (Diem)

kimiti

Lister
Now its clear what Mark Zakabag was doing in Kenya, Facebook will be moving their digital currency that was initially called Libra and now called Diem from Switzerland to Amerika. Diem will be pegged 1-1 to the US Dollar just as the M-pesa digital currency is pegged 1-1 to the shilingi.

 

kimiti

Lister
The money in my bank, is it also a digital currency since I can use it the same way I use M-pesa?
That is a good one. but its still a digital value of the shilling. whether visa equates to a digital form, I had not thought of that.
in any case, i stick to M-Pesa being a stable coin.
 

upepo

Elder Lister
That is a good one. but its still a digital value of the shilling. whether visa equates to a digital form, I had not thought of that.
in any case, i stick to M-Pesa being a stable coin.
A digital currency is a form of money available only in electronic form, with no physical versions.
 

kimiti

Lister
A digital currency is a form of money available only in electronic form, with no physical versions.
ok,
what of the Digital Yuan that is being rolled out? is it not digital coz of the Yuan?
Digital US dollar that is in development, wont that be digital?

lets give credit where its worth, Kenya unknowingly was and still is ahead of he curve when it comes to digital currency
 

upepo

Elder Lister
ok,
what of the Digital Yuan that is being rolled out? is it not digital coz of the Yuan?
Digital US dollar that is in development, wont that be digital?

lets give credit where its worth, Kenya unknowingly was and still is ahead of he curve when it comes to digital currency
The Digital Yuan is not the same thing as the Yuan. The differentiator is the Digital affix. The digital version has no physical form. You can still transact with the Yuan electronically, but that does not make it a digital currency. If the two were the same then there would be no need to come up with the digital Yuan.
 

kimiti

Lister
The Digital Yuan is not the same thing as the Yuan. The differentiator is the Digital affix. The digital version has no physical form. You can still transact with the Yuan electronically, but that does not make it a digital currency. If the two were the same then there would be no need to come up with the digital Yuan.
I have nothing to say, lets revisit this after a few months. What I have put up there is based on my conviction on what is the upcoming trend. I definitely cant call myself an expert that's why I wont push any more of my views. the above remain to be my views and opinions and nothing more
 

upepo

Elder Lister
I have nothing to say, lets revisit this after a few months. What I have put up there is based on my conviction on what is the upcoming trend. I definitely cant call myself an expert that's why I wont push any more of my views. the above remain to be my views and opinions and nothing more
We all learn new things everyday, just don't do it in a smoky room. Your opinions and views are as valid as any other, just don't call Mpesa a digital currency or a stable coin since you already seem to know something about currencies.
 

Amooti

Lister
The stability of mpesa is the most endearing thing about it. If you have 1000 today and the shilling slides against the dollar overnight tomorrow you will still be having that 1000. It's only in a case of say Zimbabwe where inflation would go upwards of 200% overnight that this is bad because what you could buy with 1000 today you can't buy with the same 1000 tomorrow. Mpesa though is still a digital currency. You can buy/sell using it without having to involve cash! If our hard nosed barbarians at safaricom made it easier for every business owner to get a till number, mama mboga, jamaa wa kinyozi etc etc, people would hardly need to carry cash. Imagine ukiingia matatu kuna till number, ukinunua mayai boilo Ako na till pia, mútura pia. No one would want to carry cash, what would be the essence.
Just because mpesa doesn't appreciate and isn't traded like say Bitcoin doesn't mean that it is not digital. If I was at safaricom head of "different frontier" I would be in talks with Bitcoin on how to interchange currency between the two platforms seamlessly. So if for example I have 200000Ksh I can buy bitcoins and sell them later and still the cash back to my mpesa.
In the long run, Bitcoins still need to be converted to hard currency, unless you are in some shady deals like drugs, after a while you will still need that cash back in Kenyan notes. So even though one is way superior in terms of the tech behind it, they are still both digital currencies
 

kimiti

Lister
Ok, lets sit down and share a thing or two, @upepo that statement of doing it in a smoky room that was uncalled for and i will leave it at that
 
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