Blessed Furahi Day! Read on the two sides of the "coin". Be blessed. Regards/Wangari ==== Shedding light on the dark web The drug trade is moving from the street to online cryptomarkets....... Online drug markets are part of the “dark web”: sites only accessible through browsers such as Tor, which route communications via several computers and layers of encryption, making them almost impossible for law enforcement to track. Buyers and sellers make contact using e-mail providers such as Sigaint, a secure dark-web service, and encryption software such as Pretty Good Privacy (PGP). They settle up in bitcoin, a digital currency that can be exchanged for the old-fashioned sort and that offers near-anonymity during a deal. Almost all sales are via “cryptomarkets”: dark websites that act as shop-fronts. These provide an escrow service, holding payments until customers agree to the bitcoin being released. Feedback systems like those on legitimate sites such as Amazon and eBay allow buyers to rate their purchases and to leave comments, helping other customers to choose a trustworthy supplier. The administrators take a 5-10% cut of each sale and set broad policy (for example, whether to allow the sale of guns). They pay moderators in bitcoin to run customer forums and handle complaints......
Greetings all, Yes this does occur with digital currencies -- but how many drugs are sold for cash in Kenya? Around the world? The percentage sold via the "dark web" is infinitesimal. These "dark markets" are also crawling with law enforcement agents, setting meetups and stings just as they would for normal illegal transactions. The use of digital currencies for payment on the dark web is an exciting movie plotline but not any real threat for increasing the amount of drug use. Rather than support scary stories about drugs and terrorism -- which research by banks and law enforcement has continued to prove is not an issue -- let's look at some of the real risk / risk mitigation tactics of digital currencies: *RISK 1*: retail users who do not know how to use this technology can struggle and lose their money; by either engaging in pyramid schemes, phishing scams, or by even forgetting their password. This is similar to when ATM cards were first distributed, or even mobile money, and there was a lot of education to do about proper password security, responding to mobile money themed text scams, etc. *Mitigation Tactic:* Require companies using this technology to have customer support, consumer protection policies, and multi-level sign-up or account opening processes to self-select more tech savvy customers *RISK 2: *companies that "store" or hold wallets of digitial currencies for consumers do not follow appropriate storage and core capital requirements...putting their customer's money at risk. *Mitigation Tactic: *Just as when the DTM license was introduced in Kenya - any company set up in the country that stores customer funds should have strict deposit-taking requirements, safeguards, etc. Thanks for listening! Elizabeth On Fri, Jul 15, 2016 at 12:31 AM, Wangari Kabiru via kictanet < kictanet@lists.kictanet.or.ke> wrote:
Blessed Furahi Day!
Read on the two sides of the "coin".
Be blessed.
Regards/Wangari
====
Shedding light on the dark web
The drug trade is moving from the street to online cryptomarkets.......
Online drug markets are part of the “dark web”: sites only accessible through browsers such as Tor, which route communications via several computers and layers of encryption, making them almost impossible for law enforcement to track. Buyers and sellers make contact using e-mail providers such as Sigaint, a secure dark-web service, and encryption software such as Pretty Good Privacy (PGP). They settle up in bitcoin, a digital currency that can be exchanged for the old-fashioned sort and that offers near-anonymity during a deal. Almost all sales are via “cryptomarkets”: dark websites that act as shop-fronts. These provide an escrow service, holding payments until customers agree to the bitcoin being released. Feedback systems like those on legitimate sites such as Amazon and eBay allow buyers to rate their purchases and to leave comments, helping other customers to choose a trustworthy supplier. The administrators take a 5-10% cut of each sale and set broad policy (for example, whether to allow the sale of guns). They pay moderators in bitcoin to run customer forums and handle complaints......
_______________________________________________ kictanet mailing list kictanet@lists.kictanet.or.ke https://lists.kictanet.or.ke/mailman/listinfo/kictanet
Unsubscribe or change your options at https://lists.kictanet.or.ke/mailman/options/kictanet/elizabeth%40bitpesa.co
The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform for people and institutions interested and involved in ICT policy and regulation. The network aims to act as a catalyst for reform in the ICT sector in support of the national aim of ICT enabled growth and development.
KICTANetiquette : Adhere to the same standards of acceptable behaviors online that you follow in real life: respect people's times and bandwidth, share knowledge, don't flame or abuse or personalize, respect privacy, do not spam, do not market your wares or qualifications.
-- Elizabeth Rossiello CEO and Co-Founder *BitPESA* Nigeria: +234 909 345 4135 Kenya: +254 710 891 851 Skype: erossiello
Elizabeth and all Well put. The detractors of digital currencies always point out National Security concerns, terrorism and money laundering as a way to let the world know how dangerous they are. What they fail to tell us is that these issues will remain whether or not digital currencies remain. And of course there is also the possibility that technologies like Blockchains are now being tested by regulators to counter/monitor systemic failures/risk in global financial systems. Here's interesting reading on this issue:- http://www.bna.com/regulators-show-interest-n57982064247/ Ali Hussein Principal Hussein & Associates +254 0713 601113 / 0770906375 Twitter: @AliHKassim Skype: abu-jomo LinkedIn: http://ke.linkedin.com/in/alihkassim "Discovery consists in seeing what everyone else has seen and thinking what no one else has thought". ~ Albert Szent-Györgyi Sent from my iPad
On 15 Jul 2016, at 10:22 AM, Elizabeth Rossiello via kictanet <kictanet@lists.kictanet.or.ke> wrote:
Greetings all,
Yes this does occur with digital currencies -- but how many drugs are sold for cash in Kenya? Around the world? The percentage sold via the "dark web" is infinitesimal. These "dark markets" are also crawling with law enforcement agents, setting meetups and stings just as they would for normal illegal transactions. The use of digital currencies for payment on the dark web is an exciting movie plotline but not any real threat for increasing the amount of drug use.
Rather than support scary stories about drugs and terrorism -- which research by banks and law enforcement has continued to prove is not an issue -- let's look at some of the real risk / risk mitigation tactics of digital currencies:
RISK 1: retail users who do not know how to use this technology can struggle and lose their money; by either engaging in pyramid schemes, phishing scams, or by even forgetting their password. This is similar to when ATM cards were first distributed, or even mobile money, and there was a lot of education to do about proper password security, responding to mobile money themed text scams, etc.
Mitigation Tactic: Require companies using this technology to have customer support, consumer protection policies, and multi-level sign-up or account opening processes to self-select more tech savvy customers
RISK 2: companies that "store" or hold wallets of digitial currencies for consumers do not follow appropriate storage and core capital requirements...putting their customer's money at risk.
Mitigation Tactic: Just as when the DTM license was introduced in Kenya - any company set up in the country that stores customer funds should have strict deposit-taking requirements, safeguards, etc.
Thanks for listening! Elizabeth
On Fri, Jul 15, 2016 at 12:31 AM, Wangari Kabiru via kictanet <kictanet@lists.kictanet.or.ke> wrote: Blessed Furahi Day!
Read on the two sides of the "coin".
Be blessed.
Regards/Wangari
====
Shedding light on the dark web
The drug trade is moving from the street to online cryptomarkets.......
Online drug markets are part of the “dark web”: sites only accessible through browsers such as Tor, which route communications via several computers and layers of encryption, making them almost impossible for law enforcement to track. Buyers and sellers make contact using e-mail providers such as Sigaint, a secure dark-web service, and encryption software such as Pretty Good Privacy (PGP). They settle up in bitcoin, a digital currency that can be exchanged for the old-fashioned sort and that offers near-anonymity during a deal. Almost all sales are via “cryptomarkets”: dark websites that act as shop-fronts. These provide an escrow service, holding payments until customers agree to the bitcoin being released. Feedback systems like those on legitimate sites such as Amazon and eBay allow buyers to rate their purchases and to leave comments, helping other customers to choose a trustworthy supplier. The administrators take a 5-10% cut of each sale and set broad policy (for example, whether to allow the sale of guns). They pay moderators in bitcoin to run customer forums and handle complaints......
_______________________________________________ kictanet mailing list kictanet@lists.kictanet.or.ke https://lists.kictanet.or.ke/mailman/listinfo/kictanet
Unsubscribe or change your options at https://lists.kictanet.or.ke/mailman/options/kictanet/elizabeth%40bitpesa.co
The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform for people and institutions interested and involved in ICT policy and regulation. The network aims to act as a catalyst for reform in the ICT sector in support of the national aim of ICT enabled growth and development.
KICTANetiquette : Adhere to the same standards of acceptable behaviors online that you follow in real life: respect people's times and bandwidth, share knowledge, don't flame or abuse or personalize, respect privacy, do not spam, do not market your wares or qualifications.
-- Elizabeth Rossiello CEO and Co-Founder BitPESA Nigeria: +234 909 345 4135 Kenya: +254 710 891 851 Skype: erossiello _______________________________________________ kictanet mailing list kictanet@lists.kictanet.or.ke https://lists.kictanet.or.ke/mailman/listinfo/kictanet
Unsubscribe or change your options at https://lists.kictanet.or.ke/mailman/options/kictanet/info%40alyhussein.com
The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform for people and institutions interested and involved in ICT policy and regulation. The network aims to act as a catalyst for reform in the ICT sector in support of the national aim of ICT enabled growth and development.
KICTANetiquette : Adhere to the same standards of acceptable behaviors online that you follow in real life: respect people's times and bandwidth, share knowledge, don't flame or abuse or personalize, respect privacy, do not spam, do not market your wares or qualifications.
...and another interesting read: "Ex-Google engineers have spent 2 years secretly trying to solve 'the hardest problem in banking' ", applying blockchain technology to core banking systems. http://goo.gl/kIkabb Cheers, Tony On 15/07/2016, Ali Hussein via kictanet <kictanet@lists.kictanet.or.ke> wrote:
Elizabeth and all
Well put. The detractors of digital currencies always point out National Security concerns, terrorism and money laundering as a way to let the world know how dangerous they are. What they fail to tell us is that these issues will remain whether or not digital currencies remain. And of course there is also the possibility that technologies like Blockchains are now being tested by regulators to counter/monitor systemic failures/risk in global financial systems.
Here's interesting reading on this issue:-
http://www.bna.com/regulators-show-interest-n57982064247/
Ali Hussein Principal Hussein & Associates +254 0713 601113 / 0770906375
Twitter: @AliHKassim Skype: abu-jomo LinkedIn: http://ke.linkedin.com/in/alihkassim
"Discovery consists in seeing what everyone else has seen and thinking what no one else has thought". ~ Albert Szent-Györgyi
Sent from my iPad
On 15 Jul 2016, at 10:22 AM, Elizabeth Rossiello via kictanet <kictanet@lists.kictanet.or.ke> wrote:
Greetings all,
Yes this does occur with digital currencies -- but how many drugs are sold for cash in Kenya? Around the world? The percentage sold via the "dark web" is infinitesimal. These "dark markets" are also crawling with law enforcement agents, setting meetups and stings just as they would for normal illegal transactions. The use of digital currencies for payment on the dark web is an exciting movie plotline but not any real threat for increasing the amount of drug use.
Rather than support scary stories about drugs and terrorism -- which research by banks and law enforcement has continued to prove is not an issue -- let's look at some of the real risk / risk mitigation tactics of digital currencies:
RISK 1: retail users who do not know how to use this technology can struggle and lose their money; by either engaging in pyramid schemes, phishing scams, or by even forgetting their password. This is similar to when ATM cards were first distributed, or even mobile money, and there was a lot of education to do about proper password security, responding to mobile money themed text scams, etc.
Mitigation Tactic: Require companies using this technology to have customer support, consumer protection policies, and multi-level sign-up or account opening processes to self-select more tech savvy customers
RISK 2: companies that "store" or hold wallets of digitial currencies for consumers do not follow appropriate storage and core capital requirements...putting their customer's money at risk.
Mitigation Tactic: Just as when the DTM license was introduced in Kenya - any company set up in the country that stores customer funds should have strict deposit-taking requirements, safeguards, etc.
Thanks for listening! Elizabeth
On Fri, Jul 15, 2016 at 12:31 AM, Wangari Kabiru via kictanet <kictanet@lists.kictanet.or.ke> wrote: Blessed Furahi Day!
Read on the two sides of the "coin".
Be blessed.
Regards/Wangari
====
Shedding light on the dark web
The drug trade is moving from the street to online cryptomarkets.......
Online drug markets are part of the “dark web”: sites only accessible through browsers such as Tor, which route communications via several computers and layers of encryption, making them almost impossible for law enforcement to track. Buyers and sellers make contact using e-mail providers such as Sigaint, a secure dark-web service, and encryption software such as Pretty Good Privacy (PGP). They settle up in bitcoin, a digital currency that can be exchanged for the old-fashioned sort and that offers near-anonymity during a deal. Almost all sales are via “cryptomarkets”: dark websites that act as shop-fronts. These provide an escrow service, holding payments until customers agree to the bitcoin being released. Feedback systems like those on legitimate sites such as Amazon and eBay allow buyers to rate their purchases and to leave comments, helping other customers to choose a trustworthy supplier. The administrators take a 5-10% cut of each sale and set broad policy (for example, whether to allow the sale of guns). They pay moderators in bitcoin to run customer forums and handle complaints......
_______________________________________________ kictanet mailing list kictanet@lists.kictanet.or.ke https://lists.kictanet.or.ke/mailman/listinfo/kictanet
Unsubscribe or change your options at https://lists.kictanet.or.ke/mailman/options/kictanet/elizabeth%40bitpesa.co
The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform for people and institutions interested and involved in ICT policy and regulation. The network aims to act as a catalyst for reform in the ICT sector in support of the national aim of ICT enabled growth and development.
KICTANetiquette : Adhere to the same standards of acceptable behaviors online that you follow in real life: respect people's times and bandwidth, share knowledge, don't flame or abuse or personalize, respect privacy, do not spam, do not market your wares or qualifications.
-- Elizabeth Rossiello CEO and Co-Founder BitPESA Nigeria: +234 909 345 4135 Kenya: +254 710 891 851 Skype: erossiello _______________________________________________ kictanet mailing list kictanet@lists.kictanet.or.ke https://lists.kictanet.or.ke/mailman/listinfo/kictanet
Unsubscribe or change your options at https://lists.kictanet.or.ke/mailman/options/kictanet/info%40alyhussein.com
The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform for people and institutions interested and involved in ICT policy and regulation. The network aims to act as a catalyst for reform in the ICT sector in support of the national aim of ICT enabled growth and development.
KICTANetiquette : Adhere to the same standards of acceptable behaviors online that you follow in real life: respect people's times and bandwidth, share knowledge, don't flame or abuse or personalize, respect privacy, do not spam, do not market your wares or qualifications.
-- Tony White
Tony Thanks for sharing! Great read. Ali Hussein Principal Hussein & Associates +254 0713 601113 / 0770906375 Twitter: @AliHKassim Skype: abu-jomo LinkedIn: http://ke.linkedin.com/in/alihkassim "Discovery consists in seeing what everyone else has seen and thinking what no one else has thought". ~ Albert Szent-Györgyi Sent from my iPad
On 15 Jul 2016, at 1:53 PM, Tony White via kictanet <kictanet@lists.kictanet.or.ke> wrote:
This message has no content.
Listers, Great outlines. Dark Web is interesting and using block chain is interesting. These technologies have come about to meet requirements of customers/users. Again if you look at the banking technology space a lot of the CXO are conservative that if ask them to a risk on what they dream of non of them is ready. Or even understands the reality of an opportunity. We hope the financial sector starts to partner with FinTech providers who offer services and able to back the initiative with the right sponsorship as well as the right stakeholders. Thanks, Best Regards, Baiju
On 15 Jul 2016, at 13:53, Tony White via kictanet <kictanet@lists.kictanet.or.ke> wrote:
...and another interesting read:
"Ex-Google engineers have spent 2 years secretly trying to solve 'the hardest problem in banking' ", applying blockchain technology to core banking systems.
Cheers, Tony
On 15/07/2016, Ali Hussein via kictanet <kictanet@lists.kictanet.or.ke> wrote: Elizabeth and all
Well put. The detractors of digital currencies always point out National Security concerns, terrorism and money laundering as a way to let the world know how dangerous they are. What they fail to tell us is that these issues will remain whether or not digital currencies remain. And of course there is also the possibility that technologies like Blockchains are now being tested by regulators to counter/monitor systemic failures/risk in global financial systems.
Here's interesting reading on this issue:-
http://www.bna.com/regulators-show-interest-n57982064247/
Ali Hussein Principal Hussein & Associates +254 0713 601113 / 0770906375
Twitter: @AliHKassim Skype: abu-jomo LinkedIn: http://ke.linkedin.com/in/alihkassim
"Discovery consists in seeing what everyone else has seen and thinking what no one else has thought". ~ Albert Szent-Györgyi
Sent from my iPad
On 15 Jul 2016, at 10:22 AM, Elizabeth Rossiello via kictanet <kictanet@lists.kictanet.or.ke> wrote:
Greetings all,
Yes this does occur with digital currencies -- but how many drugs are sold for cash in Kenya? Around the world? The percentage sold via the "dark web" is infinitesimal. These "dark markets" are also crawling with law enforcement agents, setting meetups and stings just as they would for normal illegal transactions. The use of digital currencies for payment on the dark web is an exciting movie plotline but not any real threat for increasing the amount of drug use.
Rather than support scary stories about drugs and terrorism -- which research by banks and law enforcement has continued to prove is not an issue -- let's look at some of the real risk / risk mitigation tactics of digital currencies:
RISK 1: retail users who do not know how to use this technology can struggle and lose their money; by either engaging in pyramid schemes, phishing scams, or by even forgetting their password. This is similar to when ATM cards were first distributed, or even mobile money, and there was a lot of education to do about proper password security, responding to mobile money themed text scams, etc.
Mitigation Tactic: Require companies using this technology to have customer support, consumer protection policies, and multi-level sign-up or account opening processes to self-select more tech savvy customers
RISK 2: companies that "store" or hold wallets of digitial currencies for consumers do not follow appropriate storage and core capital requirements...putting their customer's money at risk.
Mitigation Tactic: Just as when the DTM license was introduced in Kenya - any company set up in the country that stores customer funds should have strict deposit-taking requirements, safeguards, etc.
Thanks for listening! Elizabeth
On Fri, Jul 15, 2016 at 12:31 AM, Wangari Kabiru via kictanet <kictanet@lists.kictanet.or.ke> wrote: Blessed Furahi Day!
Read on the two sides of the "coin".
Be blessed.
Regards/Wangari
====
Shedding light on the dark web
The drug trade is moving from the street to online cryptomarkets.......
Online drug markets are part of the “dark web”: sites only accessible through browsers such as Tor, which route communications via several computers and layers of encryption, making them almost impossible for law enforcement to track. Buyers and sellers make contact using e-mail providers such as Sigaint, a secure dark-web service, and encryption software such as Pretty Good Privacy (PGP). They settle up in bitcoin, a digital currency that can be exchanged for the old-fashioned sort and that offers near-anonymity during a deal. Almost all sales are via “cryptomarkets”: dark websites that act as shop-fronts. These provide an escrow service, holding payments until customers agree to the bitcoin being released. Feedback systems like those on legitimate sites such as Amazon and eBay allow buyers to rate their purchases and to leave comments, helping other customers to choose a trustworthy supplier. The administrators take a 5-10% cut of each sale and set broad policy (for example, whether to allow the sale of guns). They pay moderators in bitcoin to run customer forums and handle complaints......
_______________________________________________ kictanet mailing list kictanet@lists.kictanet.or.ke https://lists.kictanet.or.ke/mailman/listinfo/kictanet
Unsubscribe or change your options at https://lists.kictanet.or.ke/mailman/options/kictanet/elizabeth%40bitpesa.co
The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform for people and institutions interested and involved in ICT policy and regulation. The network aims to act as a catalyst for reform in the ICT sector in support of the national aim of ICT enabled growth and development.
KICTANetiquette : Adhere to the same standards of acceptable behaviors online that you follow in real life: respect people's times and bandwidth, share knowledge, don't flame or abuse or personalize, respect privacy, do not spam, do not market your wares or qualifications.
-- Elizabeth Rossiello CEO and Co-Founder BitPESA Nigeria: +234 909 345 4135 Kenya: +254 710 891 851 Skype: erossiello _______________________________________________ kictanet mailing list kictanet@lists.kictanet.or.ke https://lists.kictanet.or.ke/mailman/listinfo/kictanet
Unsubscribe or change your options at https://lists.kictanet.or.ke/mailman/options/kictanet/info%40alyhussein.com
The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform for people and institutions interested and involved in ICT policy and regulation. The network aims to act as a catalyst for reform in the ICT sector in support of the national aim of ICT enabled growth and development.
KICTANetiquette : Adhere to the same standards of acceptable behaviors online that you follow in real life: respect people's times and bandwidth, share knowledge, don't flame or abuse or personalize, respect privacy, do not spam, do not market your wares or qualifications.
-- Tony White
_______________________________________________ kictanet mailing list kictanet@lists.kictanet.or.ke https://lists.kictanet.or.ke/mailman/listinfo/kictanet
Unsubscribe or change your options at https://lists.kictanet.or.ke/mailman/options/kictanet/baiju%40telemedia.co.k...
The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform for people and institutions interested and involved in ICT policy and regulation. The network aims to act as a catalyst for reform in the ICT sector in support of the national aim of ICT enabled growth and development.
KICTANetiquette : Adhere to the same standards of acceptable behaviors online that you follow in real life: respect people's times and bandwidth, share knowledge, don't flame or abuse or personalize, respect privacy, do not spam, do not market your wares or qualifications.
participants (5)
-
Ali Hussein -
Baiju Shah -
Elizabeth Rossiello -
Tony White -
Wangari Kabiru