The World Food Programme has partnered with machine learning company Corsali and Blockchain firm Celo to launch Kenya’s first crypto learning Centre.
The program will enable young people from poor backgrounds to earn income by working on a platform that uses cryptocurrency and e-wallets.
“Eighty per cent of participants of this project do not have employment and we are providing these skills to enable them earn a living using cryptocurrency,” Partner, research and Innovation at Celo, Angelo Kalaw said.
The program has already trained 200 young people on how to access digital work from global platforms using their smartphones. It aims to reach and train at least 400 people from remote areas by March 2022.
The participants will be able to access instant payment in Celo dollars through the integrated digital wallet. This can then be converted to US dollars and cashed out anytime using M-Pesa.
“As the world is undergoing a massive shift towards remote working in times of COVID-19, we aim to level the playing field for marginalised youth in the labour market,” Global Project Lead, WFP Innovation Accelerator, Elisa Molena
The launch of Kenya’s first crypto learning Centre comes just days after the Central Bank of Kenya (CBK) joined Central Banks from seven African countries in the research and development of digital currencies.
CBK Governor Patrick Njoroge last year expressed Kenya’s interest in entering the digital currency space following increased pressure form fast changing global markets.
”We are already feeling left out and need to create our own space,” Njoroge said.
He said Kenya would observe what niche the cryptocurrency could complement from Kenya’s diverse payment options.
Nigeria recently started piloting its first digital currency after three years of developing it.