An exclusive South African cryptocurrency SafCoin is tapping Africa’s heightening interest in adopting blockchain and crypto to help address South Africa’s critical unemployment level.

SafCoin has launched blockchain-based micro jobs platform, Mobijobs.

SafCoin says it launched Africa’s first blockchain-powered micro jobs platform, Mobijobs, to allow start-ups and SMBs to list jobs, search freelancer profiles, market freelancers’ skills and build experience.

This is targeted at the approximate 8.2 million (40.1%) of South Africa’s 20.4 million young people aged 15 to 34 - that are not employed or in education or training, according to figures released by Statistics SA in the Quarterly Labour Force Survey.

It could also be extended to over 226 million youth in Africa of which 13.4 million are not employed and 52.2 million are not in employment, education or training, according to the International Labour Organisation.

“Our goal is to drive the MobiJobs platform to become the go-to freelance jobs marketplace in Africa,” says Neil Ferreira, chief executive officer of SafCoin, on where he sees the marketplace in the next few years, “thereby empowering millions of African users to expand their earning possibilities on a global front, and in doing so help those who are without work to participate outside of their immediate economies with an equal chance of international exposure and experience.”

By harnessing blockchain, the Mobijobs marketplace seeks to widen jobseekers’ opportunities to sell skills and talent at a global level without any restriction due to lack of access to bank accounts.

Using a free cryptocurrency payment gateway that ensures quick and secure payment with zero transaction charges, the new platform offers users free listings and no commission charges on jobs completed as well as free peer to peer sending.

It differs from conventional freelance websites which charge fees for service, currency conversion by third payment processors, cash-out and for bank transactions eating up to 35% of each freelance job transacted.

The platform also lets freelancers establish an online presence without the need for set-up, hosting, or development costs thus helping with reduced transaction fees and inclusion of the unbanked population.

While it is easier today to connect services and payments online across Africa with the mass usage of mobile devices and broad accessibility of the data network providers, MobiJobs sellers may not notice that they are using blockchain technology to perform the services they offer.