The African arm of the company behind the Ignis, Nxt and Ardor blocks will embark on a multi-country tour to offer blockchain education to the public and private sectors.
According to information provided to Cointelegraph, Jelurida Africa said that it will start a blockchain expedition on October 23, starting in the Tanzanian state of Zanzibar and then continuing to Kenya, Rwanda, Uganda, Zambia, Malawi, Mozambique, Zimbabwe and Tanzania. The group aims to promote blockchain education through meetings at universities, financial institutions, and government agencies. As part of the journey, a team of experts in distributed ledger technology and smart contracts said they plan to reach out to local lawmakers and private companies, as well as blockchain developers and enthusiasts in their own countries.
“If you look at our relationships in the country or even abroad, you will understand that trust is necessary before we can easily expand, before we can easily improve the relationship with our neighbors, so trust is essential, and data consistency is essential,” Gillorida stated, CEO of Africa, Adedayo Adebaho, in an interview with KUTV Kenya on Tuesday.
“When it comes to implementing blockchain solutions, it is easy for anyone to trust you without your knowledge, because they have your digital identity and can verify your past transactions without relying on the full participation of the parties.”
Several countries on the planned Jelurida Africa route have a mixed relationship with crypto and blockchain regulation. The Bank of Tanzania has banned cryptocurrencies since 2019, but in June, President Samia Solo Hassan urged the central bank not to be “cautious” when working on innovative financial technology.
Despite the disapproval of governments and central banks in many African countries, the use of cryptocurrencies in the region continues to grow. Digital analytics firm Chainalysis reported in September that the cryptocurrency market in Africa has grown by more than 1,200% since 2020. In particular, P2P transactions provide a faster and cheaper way for many cryptocurrency users in Africa to pay for international business transactions.
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Other factors driving the use of cryptocurrency in the region may include remittances as a circumvention of governments limiting the amount of money people can send abroad. Several African countries have also considered developing central bank digital currencies, with the central banks of Nigeria and Ghana announcing plans for central bank digital currency earlier this year.