AFRICA BLOCKCHAIN DEVELOPMENT , TWO4ONE, NEM & PROXIMAX
2020 has had a lot of growth in digitization of Business after government shutdown in order to survive.
Kenya and Africa has seen a big shift in Blockchain adoption. Various governments have used Blockchain to develop various solutions that are being utilized by citizens in various countries. Various institutions have notably looked in various providers like Proximax, Nem, Ether, Hyperledger and other Blockchain available to understand and see various user cases.
In Kenya Blockchain has been utilized to distribute subsidies through electronic gift cards and E-wallets. This was notably used in food distribution during the Covid19 Pandemic to distribute gift hampers to to affected families whose livelihood had been compromised. Land and persons registry is another key areas that Blockchain has proven to be useful in maintaining the authenticity of data and also helping to tracking assets. The capital Markets has been inefficient and has resulted to slow growth and little adoption or growth in retail market. Blockchain is promising to bring a solution that will not only make the market efficient, but also deepen and make it vibrant. one of such solution is Kendex (www.kendex.co.ke) which has applied for admission to Sandbox for testing before being implemented in Kenya Capital Markets.
Introduction of new class assets like regulated digital securities that are driven by smart contracts enhance the growth and development of economies. Fractional ownership of assets and tokenization will help in capturing the value of assets that have been left out of the economy and collateralized. Emerging economy which have had a problem with economy will have a chance to leapfrog and use the next technology innovation to create employment and growth in the economy.
Security plays a key role in the economy and protection of data and authorization of access and use has been a challenge in many countries and institutions. Blockchain promises to eliminate if not reduce the high risk of data leaks. This is through encryption and use of permission based solution that only limit authorized personnel's to access what they are entitled to access while giving the owner full authority and control of who access what. such solution include self sovereign identity.
NEM has been finalizing development and looking to launch SYMBOL as the new chain with a snapshot happening on 12th and Main-net Launch on 15th March. Various solutions will be developed from the chain unique to the chain. Proximax development has also progressed and various notable main-net solution like storage, streaming and super contracts to be unveiled.
Two4one as one of the key players in helping institution and government utilize and digitize using the latest next generation technology. The company will continue to develop solution and partner with technology provider to implement solutions across in Africa
