Read time: 3 minutes

Africa gets social over Blockchain

Africa gets social over Blockchain

The United Africa Blockchain Association (UABA) is embarking on an awareness drive to promote the uptake of blockchain-based products and services across Africa.

The Association will kick-start a series of information events, the first of which is a blockchain party scheduled for 31 January 2020 in Cape Town, South Africa.

There are signs that Africa's economic and technological development agenda is pivoting towards 4IR and related technologies like blockchain.

A recent World Economic Forum survey suggested that 10% of global GDP will be stored on blockchain by 2027, while the United Nations Economic Commission for Africa said the adoption of blockchain technologies has the potential to disrupt key sectors of the economy.

UABA Research Director Heath Muchena says the organisation has opted for Cape Town as the host venue because "it doubles as a prominent tech hub in South Africa and also offers out-of-town visitors plenty sites and activities to enjoy pre- and post- event."

The event has the support of several blockchain-based projects with operations in Africa, including æternity blockchain platform, iCE3X exchange, crypto casino and sportsbook Playbetr, augmented reality gaming app Bitdropgo, decentralised and open source currency Zcoin and OVEX crypto exchange.

Muchena adds: "The initiatives encourage community building and establish thought-leadership for companies looking to expand their products and services into local markets. Blockchain-based projects can get on-the-ground insights into how responsive crypto enthusiasts are to their offerings, which opens up opportunities to have a clear understanding of market penetration strategies which would work best when further expanding into markets across the region."

Daily newsletter