The Critical Developmental Importance of Blockchain Technology in Africa

This study examines blockchain technology’s use in Africa and its potential benefits for the region. This chapter thoroughly assesses previous literature on blockchain research in Africa and contains case studies of productive blockchain projects on the continent. According to this study, blockchain technology has the potential to help Africa overcome several developmental obstacles, such as poverty, a lack of financial inclusion, and a lack of trust in institutions. This chapter lists several obstacles, including a lack of infrastructure, a lack of legislative framework, and a lack of information and understanding, as reasons why the adoption of blockchain technology in Africa is still in its early stages. To fully grasp the promise of blockchain in Africa, this chapter finishes by noting the areas that require additional research. Furthermore, it offers a general review of blockchain technology’s state of the art and its possible applications in Africa. The information in this chapter will help policymakers, practitioners, and researchers in the field better grasp the possibilities and difficulties of blockchain technology in Africa.