Blockchain in Africa
Although, Blockchain in Africa has not come as close to what the Blockchain Technology is in Asia, North America, and Europe. However, the Blockchain technology is seeing steady growth in African countries like South Africa, Kenya, Nigeria and Rwanda among others. Africa is an intriguing market when it comes to Blockchain technology, because of the lack of infrastructure and undeveloped sectors. Following are the different countries in Africa that currently working towards the implementation of Blockchain technology to improve their corrupt market situations.
- South Africa
When it comes to Blockchain friendly countries, South Africa has been home to a few of the interesting Blockchain projects. Though there is still a long way to go, as the country is still in need of certain clear regulations with respect to Blockchain technology. It also hosts one of the biggest Blockchain conventions every year in Johannesburg. In addition to the Blockchain Africa Conference, the country also has a Blockchain Academy in Cape Town, which provides access to specialized training in terms of crypto and Blockchain technology. Different financial institutions have time and again shown great interest in technology and its adoption.
Another African country which has shown interest and has seen considerable growth in its Blockchain community in Nigeria. As a result of their continued interest in the technology, the country has witnessed exciting and emerging Blockchain startups that include CDIN initiative focusing on educating the people of Nigeria about the great potential of Blockchain.
Even the Central Bank of Nigeria has shown great interest in Blockchain technology and is constantly on the lookout for new stakeholders and investors. The country also hosts a conference every year, on Blockchain technology.
Even though the Central Bank of Kenya showed their concern over the Blockchain technology in Kenya, the government is keen about their interest in technology and wants to promote it. The Central Bank, however, is urging the public to reject any transactions related to cryptocurrencies. The country has launched an AI, Blockchain based task force to implement Blockchain technology into the country’s economic framework.
The emerging technology has slowly but steadily made its way to Rwanda as well. The growth will be steadier with the partnership between Microsoft and WiseKey. The country host Transform Africa Summit which works on accelerating the digital market in Africa and have brought together thousands of financial companies, Blockchain experts, AI firms, Banks and government representatives.
Although, there are have been many warnings from the Bank of Uganda towards the potential risk that cryptocurrencies possess, the development of Blockchain in Uganda is quite evident. The government in the country is keen to make use of technology to improve and better their public services. The country also hosts a Blockchain conference, known as Africa Blockchain Conference.