The logistics industry in Kenya to get a boost from the first Kenyan cryptocurrency
blockchain technology continues to grow, many companies are aligning to this growth by adopting this technology in their systems A lot of new projects and initiatives are emerging every day indicating that the potential DLTs (Distributed Ledger Technology) have the promotion of the economy without distinction.
A good example of encrypted money that has no boundaries is TMX. behind TMX Global Coin. This company aims to establish itself as the first digital currency in Kenya . The team behind this crypt aims to solve an evil problem that has hit Kenya for a very long time. logistics failure and the challenge of keeping track of the package s and business transactions.
Speaking to the Daily Nation portal, TMX CEO Anthony Njoroge says he is confident that its development will transform the cargo logistics business, not just in Kenya but also in everyone around the world. using tokens specialized on blockchain technology.
In his statement, the CEO said they are using the blockchain to improve cargo logistics activities, creating an open and transparent forum and a democratic process that will provide users with a platform to communicate openly and effectively using a decentralized system.
In a video uploaded to the company's official website, the digital token uses various ERC20 tokens that allow the execution of smart contracts between various parties in a particular transaction. This system provides a platform where the parties can communicate in real time, so you can track the status of packages and other transactions. Njoroge states that such a payment system provided by TMX guarantees a high level of security compared to most existing systems.
The CEO says that all parties involved, including consumers, are aware of the amount of money needed during the process that the load goes through and the time it takes to process it. When the deletion process is finished, the system automatically indicates it as complete and moves it to the next step.
Good future prospects, but still a long way to go
TMX Global Coin started to develop in 2017, and has been growing steadily ever since. In mid-2018, the development process reached a level that generated a significant level of credibility in the cryptography industry.
A local media company in the country reports that TMX has established several contracts to create partnerships in Europe and Asia, but there is still no official communication of such alliances. According to the company's development plan, the Pre-ICO phase is scheduled for September of this year, while the official launch is scheduled for May 2019.
Kenya is among the countries of the world that are working towards using blockchain technology in political and economic development . Recently, Wafula Chebukati, president of the electoral commission and independent borders of the country (19459013) (IEBC) issued a statement stating that the Kenyan government is seriously working on the use of this technology in the his electoral system.