Invented in the year 2008 by Satoshi Nakamoto for use in the then unpopular cryptocurrency Bitcoin. Blockchain is a continuously growing list of records called blocks. The 2018 Africa blockchain conference which is currently on at Kampala Serena hotel took us on the Technology side of Africa’s unavoidable transformation.
By design, blockchain is inherently resistant to modification of data. Evolving as the only technology capable of linking various records all over the world as to extract any form of data remotely. Just like the way Mobile money disrupted the banking sector as many subscribers now prefer to transact using mobile money than visiting the nearest bank branch.
Blockchain technology is a fully disruptive technology that will essentially tackle existing computing g systems as a new interconnected form of retrieving data in that Institutions like NIRA don’t need to install any biometric devices as to avail National ID data to Telecom operators.
The role of blockchain technology in Africa’s transformation
Innovations and startups in Africa are not as successful as any of the known international trending projects. However, new startups are born every now and then throughout the continent. However, with blockchain technology research and access to vital information become the go-ahead for Africa’s general Tech growth.
The core role of blockchain towards Africa’s gradual transformation is clearly embedded in disrupting corruption and all institutional loopholes since various concepts have already been drafted including the self proclaimed elections validation chain unveiled at the BlockChain conference in line with emerging technologies.
Jotting Google as a search engine that once received suggestions on what to do from the blockchain mind heads turning it into the biggest information database at the moment. Startups can never be the same once blockchain technology is correctly implemented. Although President Museveni was impressed with the whole idea, blockchain must be on its way to Uganda as the Bank Of Uganda Governor Mutebire approved the disruptions that may travel in the same direction even when he doesnt recognize cryptocurrencies in general.
