Education Trumps Speculation as Blockchain Adoption in Africa Accelerates

In the 90’s when the internet was gradually gaining mass adoption, it was accompanied by mass education. The more information you have about something, the more inclined you are to use it. Blockchain enthusiasts tell anyone who cares to listen that the current development of this novel technology is parallel to the days of the internet. This is why it is termed the fourth revolution. A large chunk of adoption activities have been taking place in Western countries, only recently has the tide shifted to Africa.

Before now, speculation over the volatile price of cryptocurrencies was the order of the day, with few if any, aware of the inherent potentials in blockchain, the underlying technology. For adoption to accelerate, education has to trump speculation. Moreover, before innovation of any magnitude can happen, there has to be some form of education.

Speed, transparency, security, decentralization, ease of access, are just some of the features of blockchain that makes it suitable for addressing Africa’s myriad of economic and industrial development issues. Daily, indigenous blockchain startups are coming up with actual use cases that would help solve local problems. As part of the KuBitX ecosystem, blockchain can help Africa solve the problem of high transaction fees and speed of transaction when it comes to remittances. If blockchain is used to digitize the land registry, cases of land fraud would become extinct. Running financial activities of the economy on the blockchain can help check corruption in both the public and private sector, not to mention boosting of cross-border e-commerce through crypto payments.

In this vein, there has been a surge in education focused events happening around the continent. At least weekly, one hears about a conference, seminar or workshop geared towards mass education of all things blockchain and crypto. Mass adoption through mass education is one of the foundational goals of KuBitX, a global exchange founded with the vision of helping Africa position herself for a financially secure future, using blockchain. To facilitate this, KuBitX has a system of Global Channel Ambassadors, charged with the duty of disseminating blockchain and crypto education to the grassroots. To that market woman, to that cobbler down the road, the unbanked, the underrepresented, the ones who are originally meant to be the beneficiaries of Satoshi’s vision.

Other than intimating the masses with the near unlimited potentials of blockchain, KuBitX intends to intensify educational activities on training blockchain developers, and thus curb another century of brain drain. Demand for blockchain related skills worldwide surpasses available options. With properly structured education and mentorship programs in Africa, indigenously trained blockchain professionals could bridge this gap in the nearest future.

On the regulation side, just Kenya and South Africa seem to have a definite framework in place. Most African countries are adopting a cautious approach by not outrightly banning cryptocurrencies or blockchain, but issuing warnings to businesses and individuals dealing with cryptocurrencies. Understandably, the negative reputation of cryptocurrency has spilled over into blockchain. This is where proper education is essential so that our regulatory authorities are better informed when taking their stance on blockchain and crypto. Some countries like Kenya and Mauritius are positively embracing the technology by setting up sandboxes and working committees or task force.