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Browsing: blockchain technology in Africa
Africa’s digital transformation has caught the entire world by storm. Various countries from all four regions of the continent are each pioneering to attain dominance within the advancing digital economy. However, despite numerous inventions, one category stands out: Africa’s blockchain ecosystem.
Blockchain technology has ushered in a new industrial revolution and forever changed the continent’s trajectory. From introducing a new financial system, fintech, to operating medical databases and providing new voting systems, this new technology has broken barrier after barrier of innovation.
Africa is a strong contender for developing technologies such as blockchain and cryptocurrency owing to the continent’s growing mobile tech adoption rates. Considering the turbulent global financial markets, expensive remittance costs, and restricted banking access, blockchain in Africa offers alternatives to tackle their day-to-day issues.
A blockchain is a distributed ledger that is open to a group of selected participants to store, share and alter…