Peer to peer crypto platform Zippie is looking to penetrate Kenya’s telecommunication market by offering a reward generation system that allows users to earn airtime minutes. The platform enables users to be rewarded through mobile internet airtime that can be redeemed for use. This service has already been launched in Kenya and is quickly gaining traction among local crypto enthusiasts.
Mobile airtime happens to be among Kenya’s top tax contributors. This is no surprise since Kenya is one of the most advanced mobile economies in Africa. Mobile airtime accounted for KES 26.3 Billion ($260 Million) in revenue taxes last year which marked a 63% growth from the previous year. In the first 9 months of 2019, the revenues have already hit KES 19.7 Billion ($194 million). These figures show that mobile airtime is a huge sector not only in Kenya but also other parts of sub Saharan Africa.
The sector has contributed to massive financial inclusion in developing countries through mobile technology. This has not gone unnoticed in the crypto world, which is why peer to peer companies like Zippie have made a move. Another company in the crypto space looking to make moves in Sub Saharan Africa is BitMinutes.
BitMinutes has entered into a partnership with the Akoin Foundation- owned by popular music star and entrepreneur Akon- in an initiative that will see people convert Fiat currency into BitMinutes. The BitMinutes will then be sent to other phones as airtime and top-ups, or converted to fiat currency via an agency network similar to Safaricom Mpesa or Airtel Money. To put it simply, the users will be paid in airtime minutes. These services are already being offered in a number of African jurisdictions and are spreading every day. There is no doubt that these services are only going to grow in popularity and acceptance.