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Blockchain technology and sustainable development in  Africa’s agriculture sector

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A critical factor to some of Africa’s biggest development goals lies in agriculture. This is is because to a large extent, Africa is still an agro-economy and the Agricultural sector is an engine of job creation. With about 60 percent of total employment in sub-Saharan Africa allocated to farming. The Agriculture sector is also a driver of inclusive and sustainable development and by 2025 the sector is projected to add more jobs to the African economy. However, Africa’s agriculture sector is facing mounting challenges and the blockchain technology is being used to solve most of these problems.

While Agricultural production rate of the continent has increased, it still lags behind other regions. Considering the rise in population, Africa’s food system will be further strained by a population projection of 1.3 billion by 2050. This will cause a problem for food security which is a challenge as climate change also threatens the sector. Blockchain based agricultural firms such as Agrikore have began creating solutions that suit the African problem. Agrikore is a smart-contracting, digital payments marketplace system focused on providing information, product and a marketplace to stakeholders in the agricultural sector.

Employing the blockchain technology to Africa’s agriculture will boost the sectors and create sustainable development. For instance, BitMari a blockchain startup has set up a platform to launch smart farm contract which will aid agricultural funding in the continent. The firm is developing an application that allows buyers to purchase farming contracts for agricultural projects in Zimbabwe. Thereby creating the needed fund for the sector. Also, in Ethiopia, cryptocurrency startup Cardano signed an MOU with the government to use its developers use its blockchain for the local agriculture industry. Cryptocurrency exchange, Paxful is not left out as the exchange poured bitcoins into the agricultural and educational sector of Rwanda. The blockchain technology is also helping farmers get loan as a crypto startup is  bringing cryptocurrencies to the agricultural space, providing 50,000 farmers with loans worth US$10mn. The project which is a collaboration between Block Commodities, Wala, Dala, and FinComEco will develop and operate a variety of platforms, projects and initiatives in the agricultural commodity markets Africa. On the other hand, Kenyan agri-tech startup, Twiga Foods partnered with IBM Research to provide microloans to about 220 food stall retailers across Kenya with the use of a blockchain-based financing system.

All these projects are focused on transforming the actor knowing just how important such a sector is to the economy of the continent. From solutions that can be accessed on the mobile phones to loans, to smart contracts and even down to tracking in the supply chain managements of agricultural products. The blockchain is making a head way in the continent and hopefully the effectiveness of the technology will encourage governments to adopt it.  

 

What do you think about struggling nations employing the blockchain technology? Share your opinion with us in the comment section below.
Image credit: pixabay,

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TRON to onboard Steemit as it sets to join TRON Ecosystem

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Source: TRON

 

TRON has announced a strategic partnership with the largest blockchain based social media platform Steemit to onboard its numerous Dapps and user base into the TRON Ecosystem. 

 

The announcement which was made via a press release on TRON’s medium account revealed that both development teams of the two organizations will immediately begin working together to bring Steemit and other Steem blockchain based DApps to TRON blockchain and its community of over 20 million users, products, and services.

 

According to TRON, “the partnership continues the beat of TRON’s rhythm in partnering with top firms like Samsung, Poloniex, Opera, and DLive to provide a dynamic value proposition to its users, investors, and community members.’

 

Steemit is a decentralised blogging platform built on the Steem blockchain and having its own token. It allows users to easily reward publishers by upvoting their contents published. 

The Steemit blockchain also houses several other Dapps such as DTube, APPICS etc which are designed to be censorship resistant. Built by Dan Larimer and Ned Scott, Steemit empowers anyone to create an account and earn crypto for published contents upon upvotes. 

 

Speaking on the partnership, Justin Sun, CEO of TRON and Bittorent said “We are very excited to welcome Steemit into the TRON ecosystem, together we will usher in a new era of decentralized social networking.”

 

TRON disclosed it will work with Steemit Inc, to create further value for its users and to augment their advancements in decentralised technologies. 

This will include migrating STEEM token to a new TRON based STEEM token and the creation of accelerator program for the developer community. 

 

TRON believes this partnership further empowers its title as the blockchain industry’s leader in distributed ledger technology with over 800 Dapps now in its ecosystem.

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CryptoTVPlus partners with Kubitx to Spread Crypto Awareness using Local Languages

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Leading African based crypto-focused media organization, CryptoTVPlus has partnered with Blockchain solutions company, KuBitX, to spread education and awareness of cryptocurrency. 

This partnership arises from the need to explore the vast untouched population in the African market. Education plays a significant role in the advancement of new technologies and utilizing local contents presents a very much effective way of achieving such goals.

The continent of Africa holds great promise in the world of digital assets; there are countless opportunities being explored and countless others to be explored in creating solutions to the large set of challenges which the continent faces.

While there are globally acceptable educational or awareness spreading techniques, there are special ways of reaching out to unique audiences; this is exactly what the drive is, in this partnership represents.

This partnership will see both organizations working together to create contents to educate and spread awareness of the digital asset revolution in both the Hausa and Pidgin local languages.

The Hausa and Pidgin speaking audience represents a vast combined segment of the local populace and it is expected this initiative will ensure the effective education of a large portion of the total population.

Speaking on the partnership, Tony Emeka, CEO of CryptoTVPlus commented saying “One of the challenges holding back the increasing awareness of digital assets and the underlying technology is proper and locally constructed educational programs that utilize relatable languages and analogies to express the WHAT, WHY and HOW of the digital asset technology. I believe with the convergence of our two organizations, there will be a new wave and rise in awareness in the local industry. ”

About KuBitX

Launched in 2018, “KuBitX is one of the most advanced and robust cryptocurrency trading platforms designed in a very user-friendly manner to enable people from all regions and backgrounds get a stronghold of the ideas revolving around the Blockchain and the Cryptocurrency space. Contained within the KuBitX ecosystem are the KuBitX trade engines, the secure KuBitX wallets and an advanced Admin dashboard for regulating the activities within the Trade Exchange.” It is currently utilizing the Stellar blockchain owing to its remittance, cross border payment and regulatory compliance needs.

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Justin Sun to launch Tron-based Decentralized stablecoin. Why should we care? 

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Founder of the Tron Blockchain, Justin Sun has hinted at plans to launch a stablecoin based on the Tron blockchain. 

This was made via his Twitter account hours ago.

According to the tweet, the TRON community will launch a new decentralized stablecoin backed by the TRX and BTT token. 

 

 

There was little information given by the tweet but Justin Sun posted a question to the entire community, and it is for the best name for the new stablecoin. 

Stablecoins have grown in numbers since the eventual launch of US dollar backed Tether (USDT). Ever since then, various fiat currency pegged stablecoins have been made available on the market. 

The stability of this cryptocurrency class has also pricked the interest of governments and private corporations,  the decision of Facebook to launch Libra provides a testament to the global interest in stablecoins which does away with the apparent honeypot feature of non-stable cryptocurrencies such as bitcoin, ethereum and other non-stablecoins. Volatility. 

Nations CBDC has also become a fascinating way to utilize the idea behind stablecoins. Several countries are experimenting and others such as China are already getting ready. 

Justin Sun’s decision to launch a decentralized stablecoin may be a noble cause, but the optics of this decision may show a contrary view. 

Tron and the founders Justin from its earliest time has been involved in certain controversies such as plagiarizing the White Paper of other projects and copying codes from Ethereum, has also been linked to pump and dump schemes most especially with the use of its wide audience to manipulate value of coins by tweeting mostly inconsequential pieces. 

The new stablecoin will be decentralized according to Justin Sun. While the decentralization is not absolute, complete decentralisation is a myth and it has been a much discussed topic in the space. It therefore begs a very important question, since it’s claimed to be decentralized, who will be the horses pulling the chariot. 

With many stablecoins in the market, one would wonder why launch a new one, there are mostly two options on ground, it’s either the stablecoin markets offer very juicy returns that the Tron blockchain will benefit from the volume as the ‘horses’ also does, or Justin Sun has ran out of ideas. 

For the community’s sake, let it be the first. 

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Tunisia’s Central Bank to Launch E-Dinar, A Digital Currency

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The central bank of Tunisia has announced the development of work for the launch of a digital currency, the E-Dinar.

The Tunisia’s foray into digital currency will see the creation of a blockchain based platform and digitization of the Tunisian fiat currency, the Dinar. The virtual currency will be created and issued using a Russian developed blockchain, the Universa Blockchain.

The Universa platform will receive a percentage of all transaction carried out with the E-dinar while the Tunisia central bank will see every transaction, as well as every buyer and seller online.

The Tunisian central bank revealed that the nation will not issue additional shares to issue the electronic money rather; the E-dinar will be pegged to part of the local fiat currency. And with the launch, individuals can also switch to the E-dinar.

Based on the contract between both parties, the Russian firm who developed the blockchain platform will receive a percentage of each operation for the entire duration of the operation of the technology, and at the same time, as it develops the Universa platform, it will launch a web application and open two thousands stalls in the country where individuals can transfer their money to E-dinars.

In order to protect the financial sovereignty of the Tunisia’s nation, considering the operations of the US based swift which operates in over 200 countries and financial censored the Iranian government, financial censorship will not happen in Tunisia’s E-dinar as the developers will hand over all encryption keys to the nation’s Central Bank and they will not be able to block the platform and see transactions.

According to the head of Tunisia’s central bank, “we are for the development of financial technologies. But we do not support private money in any form, digitally or so. If they replace public money, they will destroy monetary policy and financial stability. We are against”

The system was kick-start by the Tunisian Central bank’s head Marouane El Abassi and a representative of the IMF which say both of them carrying out a symbolic transfer of one E-dinar from one account to another in a test form. In the event in the nation’s capital where the E-dinar was presented, also in attendance was other Maghreb countries such as Morocco, Algeria and Mauritania.

Universa plans to expand to other part of the world to nations such as Malaysia, Phillipines, Argentina, Brazil etc.

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