The 2018 edition of the Africa Tech Summit kicked off today, unveiling a platform where the continent’s technology leaders, investors, innovators and watchers can gather to explore what Africa has to offer in technology’s different avenues.
Stakeholders from various sectors are expected to make presentations, engage in open discussions and share insights while bringing everyone up to speed on what they have been involved in or are anticipating.
Golix – the African payments startup using digital currencies to solve the continent’s payments challenges – is also part of this lineup. A representative from the Golix team will be part of a panel discussing the opportunities of blockchain in Africa.
The discussion is scheduled for Wednesday 14 February 2018 at 5 pm CAT and is titled “Blockchain For Africa – The Opportunity & Possible Outcomes.” Taking part in the discussion will be Yeukayi Kusangaya (Golix’s Product Manager), Charlene Chen (BitPesa founder and COO) Toro Ororo (Draker Dark flow), Anthony Munyi (IBM) and Samuel Gebre (Bloomberg) who will be chairing the discussion.
What Blockchain can do for Africa
Blockchain – the distributed, open digital ledger technology that records transactions like the buying and selling of digital currencies has attracted an increasing amount of attention in the past few years.
Most observers and investors that have been drawn to the Blockchain’s impact in financial services are looking at how it can revolutionise the way related industries operate.
For emerging markets and indeed Africa, there is a lot of expectation that the same decentralised, secure system can help the address issues to do with trust in intellectual property and value transfer.
Africa already has a huge population that is not plugged into formal financial services provided by legacy institutions like banks while other issues plague the continent like currency risks, exorbitant payment fees and the infrastructure barriers to globally integrated digital finance systems.
It is anticipated that through the blockchain, Africans can adopt solutions that address some of these issues, mostly through the elimination of bottlenecks in payments and the reduction to the barriers to cross-border value exchange.
Blockchain’s early examples like digital currencies are remodelling these fields, as evidenced by outfits like Golix that are providing people with financial autonomy through cheaper, hassle-free remittances and payments services.
The discussion will undoubtedly touch on some of these opportunities and it will be interesting to hear what everyone on the panel and in the audience has to say about blockchain’s disruptive potential.