BLOCKCHAIN Technology IN AFRICA What IS?

The cryptocurrencies are bigest morket in Africa

on 23rd and 24th May, the Blockchain Association of Uganda with support from the Government of Uganda will host the Africa Blockchain Conference at the Kampala Serena Hotel. The conference, which will be held under the them “The role of Blockchain Technology in Africa’s transformation” is scheduled to host policy makers, leaders in Industry, academia, youth, entrepreneurs and blockchain enthusiasts.

Blockchain technology is a distributed ledger platform that allows creation and management of decentralized systems and processes, which enhance efficiency and transparency of transactions across institutional or business operations. Blockchain Technology, also described as the ‘technology of trust’ is disrupting and redefining traditional governance and business models across the world from the way information is created, managed and shared to the way products and services are delivered.

While addressing the journalists at the Association offices at the Nakawa Business Park, the Chairman of the Blockchain Association of Uganda, Kwame Rugunda, said he concurs with the recent remarks made by President Yoweri Museveni regarding the need to change Africa’s lag in innovation. While addressing delegates at the World Customs Organization Conference in March 2018, President Museveni told delegates that Africa had largely missed out on the industrial revolution, with the exception of the Iron Age and stressed that Africa was now entering the digital revolution and that “Africa will not miss out again!![]

explained that Africa is at the right time to adopt this technology. “We have already seen glimpses into how it is disrupting traditional models in areas such as finance, procurement, insurance, health, identity management, contracts, governance, to mention but a few. Now is the right time to engage with this novel technology, because each wave of technology presents a profound opportunity, particularly for the early adopters,” he said The Africa Blockchain Conference is aimed at spurring engagement from both the public and private sectors, by sharing understanding as to how it can be adopted and the impact