Crypto rising in East Africa

East Africa, the ancient cradle of humanity is now embracing new fintech in blockchain & crypto to make governments more efficient, empower their local businesses & take charge of their finances.

Ancient civilizations and historical trade routes have always gotten its prominence from the East African tribes of Ethiopia and Kenya where trades of ivory, leather, wild life animals and birds throng have attracted the world’s awe as the natural diversity of  mother nature’s pure habitat.

This has not gone unnoticed as they are still very significant and appealing to tourists and poachers alike of the revered game reserves. 

This has brought about an evolution of trading of other commodities in the region which seems to be very appealing to foreign investors.

But for the greed of political leaders who place their interests above that of the people, most of the East African nations have been plagued by war and chaos which subsequently led to the downturn of the various economies of the region and a significant loss of the value of their national fiat currencies.

Where countries like Zimbabwe printed fiat notes unrelentlessly, leading to having a worthless value in quadrillions and unlimited quantities. Same applies to some other countries in the Eastern African region that caused the masses to dwindle in their finances and economic power in the early twentieth century.

However, a new breed of politicians have come into the spotlight and ensured the economies of East African countries were revived and put back in the limelight of powerful economic hubs throughout Africa.

It will fail me not to mention the strides of the government of Ethiopia and Rwanda, which are spearheading the activities of blockchain technological hubs in East Africa that have captured the attention of the world as well. The innovative leaders in those countries saw the need to upgrade their economies by introducing blockchain technology to the management of their countries infrastructure and also ensuring that their people understand the essence of the adoption of such technology.

This has manifested in the adoption of cryptocurrencies like Bitcoin, Ethereum and even Cardano as means of payment by small and large businesses in East Africa.

Sometime in the year 2020, the founder of Cardano Charles Hoskinson was spotted in Ethiopia launching the implementation of the Cardano blockchain master plan for the East African region. This would in no small way influence the activities in the region whereby awareness is created for the use of cryptocurrencies as a means of liberating the people financially and through true ownership. 

Likewise, the country of Rwanda, with its unique history of war, genocide, reconciliation and social progress since, has made gigantic strides in their quest for the use of blockchain technology and cryptocurrency in their efforts to develop their infrastructure, financial system and governmental structure.

It would be noteworthy to say that the government allocated a sizable portion of their national budget for IT infrastructure and emerging technologies where blockchain and cryptocurrencies are the focus of the budget.

This is not to say that countries like Kenya are asleep when it comes to the emerging technology of blockchain, as the nation is also rapidly deploying resources and having prominent partnerships with founders of various blockchain and cryptocurrency projects, with a goal of attaining literacy and putting her citizens in the forefront of the knowledge of emerging financial technologies.

The same can be said for the nation of Zambia as they have taken the step ahead to implement blockchain technology in their educational system to encourage her teaming youth population in the knowledge of the emerging technology.

Indeed the East African region has taken the bull by the horn to ensure her people are not left behind in the latest development in the crypto space and field of blockchain technology.

Klever, a lover of the African continent, is passionate about the giant strides which the region has made by embracing blockchain technology and cryptocurrency.

As more people get to know of what the Klever wallet ecosystem is and how they as individuals can benefit from have their funds being kept in a wallet they can trust, which entirely belongs to them due its decentralised nature, the Klever phenomenon will reach all throughout the region.

They can easily have access from the comfort of their mobile phones and ensure that they can carry out transactions seamlessly around the world no matter whether they are in their farmlands, the serengeti of the kalahari deserts, the beautiful beach resorts of Zanzibar, the mountains of Kilimanjaro, the plains of Somalia or in the large cities. Transactions are now made in more comfortable and simple ways just like breathing in a Klever way.

By James Enajite

Klever Admin

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