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Browsing: blockchain technology in Africa
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 decentralized data
- If a new block is added to a blockchain, all the users in all the blocks must confirm the information added for the block to be valid
- Blockchain technology could be of immense importance in Africa to maintain medical records, protect land ownership and secure government records
The primary technology behind cryptocurrencies is blockchain technology, allowing traders and clients to reach a consensus without necessarily trusting each other.
But over time, owing to its excellent security status, the technology has gained substantial mainstream attention and is steadily seeping into education, health and governance, among other sectors.
A blockchain is a distributed ledger that is open to a group of selected participants to store, share and alter decentralized data. In simple terms, a blockchain is a chain of blocks …