These warnings are not peculiar to the CBK alone or to Kenya. In a previous article on CCN, it was reported how the Manager at Nigeria Deposit Insurance Corporation (NDIC) warned citizens of the lack of insurance on any investment in virtual currencies, qualifying them as very risky ventures that are not backed by any physical commodity, such as gold or other precious stones.
In the same trend, just last Wednesday, World Bank Group Senior Vice President Mahmoud Mohieldin said that Blockchain technology may have many good uses in the world, but Bitcoin “could be the biggest bubble in history.” This statement reinforces the recurring question that seeks to address if blockchain technology can be isolated from cryptocurrencies, and how possible it is to adopt the technology without implementing its underlying tokens – cryptocurrencies.
