Africa faces growth challenges with blockchain technology

The continent is experiencing a technological boom that can be seen in the increase in the use of smartphones. However, countries such as Kenya, Uganda, Nigeria and South Africa are committed to solutions in the social, economic, educational, service and humanitarian aid areas

Africa is currently studying the benefits of blockchain technology to face the challenges posed by growth. Countries such as South Africa, Kenya, Uganda and Nigeria have experienced a remarkable development in technologies but the continent is committed to long-term solutions in the social, economic, political, security, humanitarian aid, health and public services areas.

The boom that has represented the use of smartphones provides alternatives for communication, payment of services, use of cryptocurrencies and other solutions to a large part of the African population.

The authorities, professionals and academics evaluate the uses of blockchain technology in the financial sector. In addition, they are conducting tests for its application in all sectors of the industry, from health to agriculture and commerce.

Other planned applications are the reduction of corruption, the promotion of service sectors, development of digital payment platforms, education programs and for the analysis of commercial activity.

There are important initiatives in Fintech, such as the Ecobank, a Pan-African banking association that operates in 36 countries of the continent, which was created for the use of the blockchain, artificial intelligence, machine learning and other technologies that are to come.


Source: BlockchainNews

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