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Essay - the transformational power of blockchain for African development


2018 Tutu Fellow Temi Marcella Awogboro has written thought piece titled Blockchain: The Opportunity for the Africa Market.  In it, she poses the question as to whether blockchain technology can not just open new vistas for African business and society, but go further - help developing nations leapfrog more developed economies?  She points out that a lack of existing infrastructure has been used as an opportunity by developing nations in the past. An example has been the early adoption of digital technology, leading developed nations with heavily established analogue infrastructure.

She says the potential benefits for a developing economy being early adopters of blockchain are extensive. These include increased transparency, more efficient and cost-effective transactions, and growth in local technological centres to build up infrastructure and export knowledge learned.

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