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{
    "id": 705379,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/705379/?format=api",
    "text_counter": 72,
    "type": "speech",
    "speaker_name": "Hon. Maanzo",
    "speaker_title": "",
    "speaker": {
        "id": 2197,
        "legal_name": "Daniel Kitonga Maanzo",
        "slug": "daniel-kitonga-maanzo"
    },
    "content": "Thank you, Hon. Temporary Deputy Speaker. From the outset, I want to thank Hon. Mwaura. In fact, I was thinking along the same lines with him when this Motion was first presented in the House. This is the right thing to do. Incubation centres exist in this country. Kenyatta University is hosting an incubation centre where youth are trying innovations. This incubation centre was first an initiative of Chris Kirubi, a serious businessman in this country who has been working with over 10,000 youth. In fact, his businesses thrive mainly because of very innovative young people that he hires. Kenyatta University students and other young people are involved in a lot of innovations. When they were looking for help from this House, they were brought to me by a senior politician who, when he listened to them, thought Parliament should do something. They have come up with something called block chain technology, also commonly known as bitcoins, which is a new innovation in the world. Strange enough, Kenyans are leading in this and no one is investing in it other than foreigners. In fact, the incubation centre that we have is being financed by foreign companies and a few individuals locally. In fact, they are not very serious about it. Block chain technology, which is an innovation of young people, can be used for security purposes to deal with terrorism. It can also be used to make electronic money. This is a development which has become very contentious because whoever came up with bitcoins somewhere in Japan, his identity is not known today and nobody knows where he disappeared to. This is what Kenyans are researching on. Kenya is very fertile for research on this because of M-Pesa . Kenya is the best success story about M-Pesa the world over and other countries are slowly copying us. The sort of things our young people are doing here, there is a likelihood of being swindled by multinationals and bigger industries. It is a way of job creation. Electronic money and bitcoins are being advanced by our ICT Ministry. I introduced these young people to the CS and they have programmes which are running, so that we can have this sort of innovation. It has been tried elsewhere like in the US. Governments and central banks have been very keen. We need to catch up as a country and lead. If there is one thing the Government has tried to do well, it is to support innovation through the ICT Ministry where we have very active young people. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}