The white paper document contains details on how businesses can leverage blockchain technology to transform their businesses and the prospects it portends for the future of Africa’s digital economy.
Africa’s leading integrated digital payment and e-commerce company, Interswitch Group, has unveiled its whitepaper on blockchain technology titled “Blockchain Technology: The Future of Africa’s Digital Economy” to help drive the growth of African businesses.
The white paper document contains details on how businesses
can leverage blockchain technology to transform their businesses and the
prospects it portends for the future of Africa’s digital economy.
The blockchain technology is a digital ledger that stores
transactions. Essentially, it is a digital system for recording transactions in
multiple places at the same time thereby making it impossible to falsify the
data stored on it.
Akeem Lawal, Managing Director, Transaction Switching and
Payment Processing at Interswitch commented, “The whitepaper document was
inspired by the need to demystify the ambiguity around blockchain technology
for African businesses thereby driving digitization and socio-economic growth
across African markets. We are passionate about empowering Africans and
advancing the African payment landscape, and we are consistently identifying
opportunities and exploring innovative ways to enable businesses transform and
scale.”
He revealed that the whitepaper document encapsulates the
benefits of blockchain technology and how it will help strengthen businesses
because of its efficiency, better security in keeping records and safety.
He further said: “While the blockchain technology is a
relatively new phenomenon in Nigeria and Africa, we are particularly excited
about our partnership with Interstellar with whom we are developing a native
blockchain infrastructure that is tailored to suit the African market. This
initiative will deepen digital payment, lower the cost of local and cross
border payment as well as champion the cause for localization of emerging
technology”.
He urged everyone to read the whitepaper document because it
addresses existing challenges in the Fintech sector and simplifies the use of
blockchain technology in unravelling these challenges. To download the
whitepaper, go to https://www.interswitchgroup.com/blockchain
The blockchain technology is evolving globally and
businesses are integrating the Blockchain technology into their business
infrastructure.
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