Blockchain technology has the potential to revolutionize business and positively impact millions of lives in Africa by breaking down borders and barriers. Several companies and sectors use this technology to promote innovation, drive change and improve efficiency. In this article, we’ll dive into the forefront of this trend.
From CV CV researchthe following companies are adopting blockchain technology to change the narrative in Africa:
Ivoirepay is an intriguing South African company that has developed a comprehensive suite of e-commerce, point-of-sale and payment tools, enabling entrepreneurs across Africa and even internationally to enable their business activities using the cryptocurrency. Blockchain has long been hailed as the ideal payment method for seamless business within and across borders, and Ivorypay is making this theory a reality by enabling automatic crypto-based subscription payments, solutions QR payment, encrypted e-commerce payments, and more.
Ivorypay’s customers’ ability to use wallet-based QR and mobile payments enables one of South Africa’s key economic sectors, informal commerce, by enabling them to make and receive payments for goods and services that do not require cash. Kucoin, Maplerad, Nyayomat and MFS Africa (In Collaboration) are some of the other major African fintech companies using blockchain.
Moment is Africa’s largest NFT platform and a provider of tokenization solutions for real-world alternative asset classes. He has created a blockchain-based system that allows South African citizens to invest and profit from alternative energy sources. Users can purchase NFTs that reflect ownership of the solar cell unit and participate in the value growth and revenue created by the solar cell.
This unique idea allows consumers to invest in renewable energy and contribute to sustainable development while potentially obtaining financial benefits. Sinan Energy and Sun Exchange are two others.
Health: Afya Rekod
Afya Rekod is a Kenya-based digital health platform that stores and verifies health data using blockchain and AI technologies. It just launched its Dynamic EHR feature, which records patients’ medical information at the point of care and uses sophisticated analytics to predict when they may be due for preventative health checkups and notifies them and their healthcare providers about health.
Education: Web3 Sanctuary
Web3 Sanctuary is at a critical juncture in its development and is at the forefront of a new generation of edtech companies. It focuses on Solidity, the smart contract programming language used in the EVM ecosystem, and provides a challenging yet entertaining learning experience.
The goal is to place certified Solidity developers in jobs that match their skills, personalities, and hobbies. Sanctuary helps individuals move into areas where they can apply blockchain principles to deliver value and nurture social impact in a growing African market.
Government: Independent Electoral and Boundary Commission of Kenya (IEBC)
The Independent Electoral and Boundary Commission (IEBC) is Kenya’s principal authority on the formulation and administration of electoral procedures. The IEBC has proposed a new set of digitally facilitated electoral processes for Kenya’s 2022 presidential elections, which have been heavily influenced by blockchain organizational structures, including the Bitcoin network and its consensus mechanisms.
KIEMS (Kenya Integrated Election Management Systems) kits were sent to more than 46,000 polling stations across the country to capture and verify the biometric data of every registered voter against the credentials registered for them. Hand-signed votes and forms were used to verify an additional layer of trustless consensus. The IEBC made data from each polling station available on its website, which could be independently verified by reporters, voters and others.
Basic blockchain infrastructure: Scroll.io
Scroll.io is an Ethereum-native Layer 2 zkEVM scaling solution that supports all EVM-based smart contracts and infrastructure. It processes blockchain transactions and computations using zero-knowledge (zk) cryptographic deployment technology, reducing transaction costs and improving speed.
This allows customers to use efficient and inexpensive payment systems, applications or financial services. The transfer protocol is another. Blockchain technology has the ability to change the lives of businesses and millions of Africans by crossing borders and breaking down barriers. It is one of the newest infrastructures in Africa, used by businesses and industries to innovate, change and increase efficiency.
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