The post Why isn’t rapid adoption of blockchain in Africa occurring? appeared on BitcoinEthereumNews.com.

Homepage > News > Editorial > Why isn’t rapid adoption of blockchain in Africa occurring? A question I ask myself when considering the potential benefits of blockchain technology for Africa is: why isn’t rapid adoption happening, especially when blockchain could dramatically transform economies and societies across the continent in such profoundly beneficial ways? Many developed nations, for the time being at least, are managing without blockchain, though the need for transition is becoming increasingly urgent in both developed and developing countries. However, Africa faces unique and pressing challenges that likely cannot be effectively addressed without the solutions blockchain can offer. Socioeconomically, African nations are on a very tight timeline to deliver real positive economic growth and ensure political stability among their youth-dominant demographics. So, the answer to why rapid adoption has not occurred is relatively straightforward, in my opinion. So far, no blockchain—or combination of blockchains—has demonstrated the capability to meet the specific needs of individual African nations while also undeniably providing the necessary regional, continental, and global connectivity. This kind of connectivity is essential to tackling Africa’s challenges: it can create new opportunities, build markets, reduce corruption, and streamline inefficient bureaucratic processes that slow down development. Any blockchain exhibiting such qualities becomes the apparent choice for adoption. The BSV blockchain appears to be the most logical candidate to meet these needs among the various blockchain technologies available. Its unbounded scalability offers the potential to handle large transactions at low costs, making it well-suited for Africa’s growing economies. By enabling microtransactions and fostering transparency, the BSV blockchain can empower businesses, governments, and individuals alike. Furthermore, its capacity to integrate with existing infrastructure and create new digital ecosystems could help Africa overcome some of the barriers currently hindering its technological progress. However, the reality is that BSV cannot yet provide the…

---

Filed under: News - @ October 23, 2024 7:15 am