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New alliance to drive blockchain adoption in Africa

By , Portals editor
Africa , 03 Feb 2023
Dubai-based Clinq Gold and the United Africa Blockchain Association (UABA) have signed a partnership.
Dubai-based Clinq Gold and the United Africa Blockchain Association (UABA) have signed a partnership.

The United Africa Blockchain Association (UABA) has signed a Memorandum of Understanding with Dubai-based digital asset company Clinq Gold to increase awareness of blockchain technology and drive its adoption across Africa.

The two organisations aim to reach 30,000 people through comprehensive blockchain education initiatives. Additionally, Clinq Gold's digital asset will be introduced to the African market as a tool to drive blockchain adoption.

To further support this objective, UABA and Clinq Gold are announcing a Blockchain Masterclass to be held in Lusaka, Zambia on 14-15 April 2023. The masterclass will provide attendees with a comprehensive understanding of blockchain technology, its applications, and its potential to transform various industries in Africa.

Yaliwe Soko, Chairperson of UABA said, "By combining our resources and expertise, we are confident that we can make a significant impact in raising awareness and driving the uptake of blockchain technology in Africa."

Clinq Gold's CEO Nick Patel added, "We believe that blockchain technology has the potential to bring about transformational change in Africa and we are committed to supporting this effort. "

The Blockchain Masterclass is open to professionals, students, and anyone interested in learning more about blockchain technology and its potential impact on Africa.

Solution to increased financial inclusion

Experts focused on Africa’s growing Fintech, cryptocurrency and financial services markets believe that blockchain is a solution to address Africa’s financial needs and the issue of financial inclusion.

In January this year Ian Putter, Head of Blockchain COE at Standard Bank Group, and Founder & Regional Director of Blockchain Research Institute (BRI) Africa, wrote an article and said blockchain’s decentralised economy integrates hierarchical economical systems into a single economically aligned class called community.

He added that according to the African Blockchain Report 2021, US$127-million of venture capital was raised by blockchain companies in Africa of which 95% of funding went to Nigeria, Seychelles, Kenya, and South Africa.

“Blockchain technology is the infrastructure that is unifying Africa. We want to rebuild Africa from the ground up with blockchain,” said Putter.

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