The Conference on Blockchain Technology in Africa

The UN meeting about blockchain in Africa ended in Ethiopia on November 24, 2017. With the aim having been to build on their knowledge of the use of cryptocurrency and discuss its potential in Africa, it was deemed to have been a success.

Positive Conclusions for all Member Nations

Kasirim Nwuke of the Economic Commission for Africa ended the meeting with the following summary:

“We have learned that [blockchain] is an emerging technology with a breakthrough potential. We have learned harnessing this technology will require huge investments and that careful evaluation by member States and firms is needed not only to determine the suitability of the technology to help mitigate identified needs but also return on investment.”

According to Nwuke, the discussions had during the conference brought to several light areas in which blockchain technology could be implemented. He mentioned food production, pharmaceuticals, luxury manufacturing, supply chain and shipping logistics as examples of this.

With bitcoin forming a recurring point of interest for the members present, it was discovered that there remains value for the cryptocurrency, despite the environment being poor and developing countries in Africa. Members also addressed the fact that systems security was still an object of contention for many…

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