Business Monday.

After a brief pause, we're back to spice up your week. It's Monday, and you know the drill – business takes center stage. What's on the agenda for you today?

• We're thrilled to welcome you back with open arms.

• Dive into the realm of cryptocurrency.

• Discover the grandeur of Africa's largest mall.

• Don't miss our shoutout to a must-read article.

🎉 We're Back! 🚀

Hello TechKona Community,

We're thrilled to announce that TechKona is back . We took a breather to recharge and refocus, and now we're back to bring you the latest and greatest in the tech realm.

During our break, the tech landscape continued to evolve, and we've been busy curating the most exciting stories to keep you informed. Expect deep insights, business spotlights, innovative ideas, and a global perspective.

Our newsletter will resume its regular schedule, coming to your inbox every [Monday to Friday expect Thursday]. We can't wait to continue this journey with you.

Stay tuned for our upcoming newsletter and keep embracing the ever-evolving world of technology!

Cryptocurrency.

curious minds! Remember our talk about Forex(Making money selling money - Forex trading.) last month? Well, your interest has shifted gears. Today, we're diving into the world of cryptocurrency. Ready for the ride? Let's uncover Crypto!

Cryptocurrency is decentralized digital money that is based on blockchain technology and secured by cryptography. To understand this lets understand terminologies:

Decentralized: Refers to a system where control and decision-making are spread across multiple participants rather than being concentrated in a central authority.

Blockchain: A technology that creates secure and tamper-proof digital ledgers by linking blocks of data in a decentralized manner using cryptographic techniques.

cryptography: The use of mathematical techniques to secure communication and data, ensuring confidentiality, integrity, and authenticity in digital interactions.

What is crypto-currency ?

In basic terms, cryptocurrency utilizes blockchain as a digital ledger accessible to authorized users, recording transactions involving various assets such as currency, real estate, or intellectual property, with shared and transparent access, ensuring instant and unchangeable records.

Why Cryptocurrency?

Centralized money refers to the regular money that we use, which is governed by authorities like the Central Bank of Kenya. Decentralization in cryptocurrency means there is no similar authority that can be held responsible for supervising the rise and fall of a particular cryptocurrency. This has many benefits over centralized money.

• Currency owners trust the decentralized network due to shared unalterable information.

• Data remains secure and accessible only to authorized network users.

• Cryptography ensures security by encrypting data, enabling privacy and immutability in blockchain.

History of crypto-currency.

The roots of cryptocurrency technology can be traced back to the 1980s with the invention of what is called a “blinding algorithm”. The algorithm is all about secure and immutable digital transactions. It remains fundamental to the modern-day digital currency.

In 2008, a group of people (currently known under the pseudonym Satoshi Nakamoto) created the guiding principles of the first and leading cryptocurrency in the market today, Bitcoin. In 2009, Bitcoin was launched to the world. But it would be years before it was formally recognized as a means of payment among leading merchants, starting with WordPress in 2012.

How do crypto work?

Cryptocurrencies operate independently of government or central regulatory control, existing outside the traditional banking system, with Bitcoin as a prominent example.

Mining:

• Cryptocurrencies are created via "mining," a complex process involving specialized computer systems solving mathematical puzzles to earn bitcoins.

• While theoretically taking 10 minutes to mine one bitcoin, practical mining typically spans around 30 days.

Buying, Selling, and Storage:

• Users acquire cryptocurrencies through central exchanges, brokers, or individual sellers, and store them in digital wallets.

• Wallets can be either "hot" (connected to the internet for ease of transactions, but susceptible to theft) or "cold" (more secure but less convenient).

Transactions and Investments:

• Cryptocurrencies can be transferred between digital wallets via smartphones.

• Ownership options include using them for purchases, trading, or converting them to cash.

• Debit-card-like transactions facilitate buying goods/services, and these cards can also withdraw cash.

• Converting cryptocurrency to cash is achievable via bank accounts or peer-to-peer exchanges."

Types of Cryptocurrencies

There are tens of thousands of cryptocurrencies available today with the figure pegged at 10,000 in 2022. Major cryptocurrencies include the following:

• Bitcoin

Bitcoin is the world’s first widely accepted form of cryptocurrency. Bitcoin is so popular, there was a time when its name was synonymous with cryptocurrency. But potential investors need to know bitcoins have become very expensive. In 2021, the cost of one Bitcoin was $68,000. But the good news is, you don’t always have to buy an entire coin, you can buy smaller fractions of it.

• Altcoin

Altcoin is the term used for any alternative digital currency to bitcoin. The most popular in this ecosystem is Ethereum – one of the fastest-growing cryptocurrencies in the market. There is also a range of other altcoins in the market today such as Luckyblock, Shiba Inu and Terra.

• Crypto tokens

The concept of crypto coins vs tokens can be confusing to many. At first glance, coins and tokens appear the same. However, the two have many differences

• Coins can be mined, but tokens cannot be mined.

• Coins are linked to blockchains, tokens are not.

• In terms of utility, they vary in the type of product or service they allow users to purchase.

• why

Considering Cryptocurrency Investment:

Advantages:

1.Privacy and Security:

• Cryptocurrencies leverage blockchain technology for user anonymity and robust security via cryptography.

2.Decentralization, Immutability, and Transparency:

• The system's shared ownership provides tamper-proof transparency to authorized members.

3.Hedge Against Inflation:

• Cryptocurrency serves as an inflation-resistant investment akin to gold due to capped supply from mining.

Disadvantages:

Limited Understanding:

• Cryptocurrencies remain relatively new, with uncertain long-term sustainability.

High Risks:

• Their extreme volatility and speculative nature expose investors to substantial gains and losses.

• Cryptos' value determination relies on supply-demand equations and is susceptible to internet-fueled speculation.

• Legal restrictions in various countries, like India, contribute to risk.

Scalability Challenge:

• Blockchain's technological limitations lead to transactional delays, impacting the efficiency of cryptocurrency payments compared to modern electronic methods.

Crypto-currency in Kenya.

Cryptocurrency is legal in Kenya, yet lacks official regulations from the Central Bank of Kenya (CBK), leading to a regulatory gray area and unlicensed exchanges. Despite this, Kenya ranks second in Africa and fifth globally for crypto adoption and peer-to-peer trading. Factors driving adoption include lower remittance costs compared to traditional methods, increased access to financial services, and a tech-savvy population. The CBK's stance on regulation remains uncertain, leaving room for continued growth in the unregulated sector. Cryptocurrency in Kenya is utilized for remittances, investment diversification, payments, and trading, showing promise in reducing costs, enhancing financial inclusion, and creating opportunities.

Africa biggest mall.

Eastleigh is the bustling center of business in Nairobi, and it's getting ready to unveil something big—the Business Bay Square (BBS) mall, with a whopping 3,500 shops. But it's not just about shopping; it's also bringing together 3 hospitals, 12 banks, and even a fancy 7-star hotel, all in one place. Even though there are already more than 50 malls around, the new mall is getting a lot of attention, showing that Eastleigh is where the action happens in the city. Ahmed Asmali, who represents the Eastleigh Business Community, explains that many businesses are eager to get space there, even waiting in line for a chance.

But Eastleigh's impact isn't just local; a local developer named Naftaly Mwangi says it's a place where businesses come to trade with each other, not only in Kenya but also in East Africa as a whole. Beyond its business side, Eastleigh brings in a lot of money—billions in investments and about a third of all the taxes that Nairobi County collects. It's not just a regular neighborhood anymore; it's a lively part of the city with small shops, places to eat, and more people moving in, all showing how it's growing and changing to keep up with the busy business scene.

Shout out Kona🗣️📢.

A big shoutout today to @BrianMuchai! I must say, one of the finest pieces of work I've come across is an article by Muchai. It's definitely a must-read. here is the link