Bitcoin has created a tool that can unlock a global means of exchange from banks. It is an amazing achievement but has yet to reach those most effected by the flawed monetary system. The poor. But how can impoverished Kenyans without computers take part? The success and ubiquitous use of mobile phone banking in Kenya has opened the door to many types of financial innovation. By combining mobile phone banking and Bitcoin technology, we see a potential breakthrough in sustainable development.Bitcoin will stimulate the local economy with a mobile phone exchangeable credit and savings system, which will allow local businesses to exchange goods and services without scarce national currency, expensive paper vouchers or the high tariffs currently encountered. This project offers a way to empower small business owners (of whom are over 90% women) to self-issue credit that stays circulating in their community. These small businesses owners are making on average less than 2 Euros in sales per day, 99% of which goes to feeding their families, and buying stock for the next day. This constant struggle is blocking their ability to save for school fees, medical expenses and improving their lives. By using Bitcoin technology to allow a credits to flow around the community, businesses can count on their ability to trade with one another even when the National Currency just can't be found. Read more here: http://koru.or.ke/bitcoin
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