Africa, as a continent, has embraced cryptocurrencies and blockchain, like no other. This has definitely gone further than the general public using a Luno Bitcoin wallet to transfer funds, transact and safeguard against local fiat currency depreciation. In fact, the advantages blockchain provides were immediately recognised as beneficial for the people living in countries such as South Africa and Nigeria, and this saw the birth of many blockchain companies. 2019 has been a successful year for several of them, and we’ve got the lowdown for you below.
Agrikore, based in Nigeria, is a multi-purpose blockchain start-up. Agriculture is undoubtedly one of the most integral industries in Africa, and blockchain has started to revolutionise it for the better. Users of Agrikore can complete trades through the service, rather than having to travel thousands of miles, and all transactions are instant. There’s also a database which is updated in real-time, allowing everyone to know where they stand when it comes to markets and values. The transparent approach of Agrikore has been crucial, and so are the funds injected into the ecosystem.
Land theft has become commonplace in Africa over the years, and this has caused problems for communities and individuals, as well as countries and economies. Bitland, a Ghanaian blockchain outfit, aims to solve this. They do so by providing citizens with access to land registry services which utiliseblockchain technology. The land registry process is smooth and hassle-free, and as blockchain is in use, records cannot be changed. Therefore, people can see who owns what on demand. There are plans for Bitland to grow internationally in the future.
Solar energy projects in South Africa are big news, so it’s no surprise that people from around the world want to get in on the act. Sun Exchange allows individuals to do precisely that, by enabling them to invest in solar energy projects in South Africa using the world’s leading cryptocurrency Bitcoin. Investors can buy solar energy equipment, and then lease it out to government facilities, schools and communities. It’s a mutually beneficial arrangement, as the investor will receive income for providing those in need of energy with solar equipment.
One of the most significant disadvantages many people living in Africa have is no access to banks or financial services. Millions of citizens in Africa are unbanked, and this is not only detrimental to them but the economy, countries and continent. Wala, based in Capetown, began life two years ago as a start-up, and it’s already relied in by a considerable amount of people. Now Africans can open and access bank accounts, gain credit and get involved in the digital economy. Wala, which makes use of bespoke token Dala, is available in South Africa, as well as Uganda and Zimbabwe, but the service is growing all the time.
As far as blockchain companies in Africa go, the four mentioned above have made a lot of progress in 2019. They’re providing excellent services to the people of Africa, and not only make like easier but better too, especially where banking and the economy are concerned.