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Why should Africa promote blockchain in an emerging economy?

Many African countries have been classified as emerging economies due to their rapid growth in GDP, increasing per capita income, rapid increase in debt and liquidity of stock markets. These economies are on their way to developing market economies and should be equipped with the appropriate infrastructure to help transition to Developed world standards.

Blockchain technology has been around for over a decade and has championed disruptive changes in several industries. It is clear that blockchain companies like 3airwhich provides a blockchain-based internet connection using proprietary technology to provide high-speed, reliable and affordable internet, has a place in Africa’s future.

Why does Sub-Saharan Africa need blockchain technology?

Many African cities have experienced an increase in population. As people continue to embrace urban and city life, most cities have had to adapt to high population growth rates without proper infrastructure. In many developed market economies, broadband Internet is available and laid out in cable form.

Internet connections require proper planning and expensive resources. Digging trenches for laying cables is not only cumbersome but also expensive. Due to the lack of suitable cables, African countries must rely on innovative and realistic alternatives to achieve the required broadband connectivity.

The 3air blockchain project provides an excellent solution that is more cost-effective than traditional cables. The proposed ISP solution is not affected by the extreme weather conditions that some African countries often experience; Likewise, it works optimally on all terrains and provides long-range communication that reduces the need to set up multiple base stations.

Since blockchain entries are immutable, the 3air solution, In partnership with K3, It provides a robust communications infrastructure that can be used to authenticate all clients because many Africans are not registered. Immutable records can be an essential tool for providing ISP services with banking services to unbanked.

New technology makes it easier to set up new customers through the Own Your Devices programme. The loyalty system built on the 3air blockchain platform will ensure the tokens are secured with a value equivalent to the hardware value. Customers have to pay for tokens or issue tokens to own ISP devices. Data is kept securely and efficiently processed to ensure smooth service delivery.

Why does the unbanked need blockchain technology?

A large part of the African population does not have bank accounts. The establishment of more financial institutions can not solve this problem. Sub-Saharan Africa, with about 350 million adults do not deal with banks, 17% of the world total. A system that can provide detailed documentation of marginalized areas can benefit from the blockchain.

The successful implementation of broadband sharing solutions for the Internet results in basic data from customer interaction, including payment information, credit scores, and Internet usage. This information will be enough for 3air to expand its services to other sectors, such as unbanked banking, by extending secured financial services to its users.

conclusion

Blockchain is a revolutionary technology that can be used in emerging economies in Africa to accelerate development. Deployment and use of blockchain-based ISP solutions make it possible to provide cost-effective, reliable and efficient solutions that can elevate Africa’s economies to other advanced economies and potentially become a leader in the implementation of blockchain.

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