In recent times, African nations has been agog with the disruptive technology of blockchain and the role it will play in solving some pertinent problems in the continent.
Most nations in Africa are embracing Blockchain technology as a tool for development and believe it has the capacity to flip the charts in infrastructural development and better governance in Africa the proof of this are evident in blockchain companies in africa littered all through the continent,
The Africa blockchain space is evolving fast to meet up with their international counterparts and that is more than just a good news. It’s a revolution!!
So far there are some Africa countries that has made it a point of duty to champion the blockchain and cryptocurrency movement in the continent. Some of these countries are already accepting cryptocurrency and creating innovative hubs and businesses around Blockchain and cryptocurrency industry.
Here are 5 countries in Africa you can do blockchain and cryptocurrency business:
Kenya is the mother of Blockchain and Cryptocurrency innovation in Africa, Kenya is also known as the silicon savannah of Africa. Kenya is pioneering blockchain innovation in Africa and using blockchain as a tool to solve some key problems in Kenya.
Earlier this year, the Kenyan government launched a taskforce community to look into blockchain and cryptocurrency and to come up with a pragmatic roadmap that could be adopted.
One of the major problems blockchain has been able to solve in Kenya is the issue of land grabbing:
Kenya came to technological lime light after the launch of mpesa
Started in 2007, M-Pesa is a phone-based money transfer launched by Safaricom — Kenya and Tanzania’s largest mobile network operators. It has since expanded to Afghanistan, South Africa, India, Romania and Albania.
M-Pesa is not so different from cryptocurrency; with it, customers can deposit and withdraw money, transfer it to others, pay bills, and move money between the M-Pesa service and a bank account. The key difference between M-Pesa and most cryptocurrency is centralization versus decentralization. M-Pesa is owned by Vodafone, a mobile operator, not a bank. It is pegged directly to the Kenyan shilling (KES). And converting or trading M-Pesa must be done physically with a mobile device either interacting with an ATM or another mobile device.
Overall, there has been a significant lack of regulatory clarity around emerging financial technologies in Kenya up to this point. Rossiello noted that “if there was more regulatory clarity, there would be room for start-ups operating in Kenya to finally be allowed to use blockchain technology AND be allowed to own bank accounts.
Kenya is one of the countries that are blockchain and cryptocurrency friendly in Africa and will currently support any blockchain and cryptocurrency business and innovations.
Currently one of the Blockchain Hub disrupting blockchain technology in Kenya is Bithub
Nigeria is the next African countries to do blockchain and cryptocurrency related businesses. Nigeria houses some of the biggest blockchain companies in africa and tech hubs in the continent one of such hubs is Blockchain Tech Hub the brains behind one of the biggest multi-wallet Satowallet. Nigeria is one of the largest economies in Africa, although, the federal government is not throwing their weight behind blockchain and cryptocurrency but the some of the country’s cryptopreneurs are taking the bulls by the horn and making giant strides in the blockchain space. If you are in need of deep education and knowledge on blockchain and cryptocurrency trading in Africa they are lots of blockchain and cryptocurrency master class, blockchain and bitcoin conference on daily basis pouring out of Nigeria, where people are taught how make money with cryptocurrency. Millions of dollars are made in Nigeria from bitcoin and cryptocurrency trading, making Nigeria a destination to start a bitcoin wallet or trading and exchange businesses.
South Africa is fighting corruption through the decentralized ledger technology and is currently one of the Africa countries to pitch a blockchain business, they are a lot blockchain companies in South Africa. South Africa came to lime light when the South Africa reserve bank made decided to start experimenting with cryptocurrency token for transactions. Some of the biggest blockchain companies in Africa are found in South Africa, so if you are looking for the next place to start a blockchain business you should look at South Africa.
South africa is home to blcockchain academy blockchain consulting firm, that is creating business models and solution for Africans and business owners.
Ghana is another place to look for to start a blockchain business in Africa; Ghana is home to Bitland a disruptive land registry platform. With a struggling economy and is making head way and is welcoming innovators to come and pitch their blockchain tents in Ghana. So if you are around Ghana or West Africa you can consider making Ghana your destination for a blockchain businesses.
In conclusion, the africa continent has a lot to benefit from blockchain innovations and startups, there should be a conscious effort made by the government to adopt and spread the knowledge of blockchain technology in Africa.