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Blockchain technology in Africa has reached a dynamic phase in which international companies are making huge investments for their projects. Blockchain-based companies have literally multiplied in number within the year following the rapid acceptance and adoption of this emerging technology. The technology industry has made tremendous progress that will help shape a completely new generation and blockchain ecosystem.
2018 was marked by a distinct trend as the African venture capital landscape saw the massive increase in the number of investment funds. It has been revealed that there are about 51 valid VC funds that concentrate the African region with a minimum of 7-10 investments in the start-ups of this area.
Technological progress has taken on a different form in the African region with its blockchain narrative. It was assumed that almost 500 SureRemits supported by Startup have released a cryptographic token keeping the multi-billion dollar market of remittances of Africa and raised $ 7 million in an ICO, as published on TechCrunch. Blockchain technology in Africa has achieved massive development support with the collaboration of the Twig Foods and Hello Tractor agtech startups with IBM Research. This partnership will use registry technology to advance operational methods for small-scale farmers and agriculture.
United Nations, Blockchain and Africa
According to The Coin Shark, it is stated that the United Nations Office on Drugs and Crime is collaborating with a blockchain doc.com company. The joint project will provide accessible medical services and health facilities at any cost. The project will start its services from the eastern regions of Africa. This platform will facilitate users to exchange their personal information or data for tokens. These tokens will be redeemable with various health services.
The blockchain technology in Africa is already expanding at a rapid pace and it is assumed that it will prove to be one of the hot spots for blockchain in the next year.
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Summary
Item name
Blockchain technology in Africa: investments, expansion and speculation
Description
Blockchain technology In Africa is rapidly exploding and has started to receive funds from leading companies in the world.
Author
Neha Bakshi
Publisher name
OWLT market
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