Tackling Africa’s socio-economic challenges with blockchain

Yaliwe Soko, Chairwoman of the United Africa Blockchain Association and Founder of Essence Crypto Consultants, is leading a charge to bring blockchain technology to the forefront in Africa. In a recent interview with CNBC Africa, Soko discussed the potential of blockchain to address Africa's challenges, particularly in the realm of unemployment. She highlighted the staggering statistic that Africa produces 13 million young people entering the job market each year, with only 3 million finding employment. This glaring issue of joblessness has prompted Soko to see blockchain as a potential solution to the continent's economic woes. Soko emphasized the importance of inclusion in the blockchain space, noting that it presents an opportunity for individuals to participate in a technology revolution across various sectors such as health and education. She shared her journey into blockchain, which began when she received Bitcoin as payment and delved deeper into understanding the underlying technology. Soko identified key problems in Africa, including currency exchange inefficiencies and counterfeit medicines, that blockchain could help address through its transparent and secure tracking system. The United Africa Blockchain Association, under Soko's leadership, has embarked on an ambitious initiative to educate 1 million people in Africa about blockchain technology. Through partnerships with organizations like Coin Intelligence, the association aims to spread awareness and encourage Africans to become key stakeholders in the evolving digital landscape. Soko highlighted the importance of engaging with governmental and Pan-African bodies to champion blockchain education and adoption. In an effort to reach a diverse audience, the association has implemented a 'train the trainer' model, where university and school instructors are taught about blockchain and then tasked with passing on their knowledge to learners. Soko also announced the launch of a women's wing within the association, focusing on blockchain and artificial intelligence training for women. By empowering individuals with knowledge about blockchain, Soko believes Africa can leverage technology to drive economic growth and innovation. As Soko continues to advocate for blockchain education and adoption in Africa, she emphasized the distinction between blockchain and cryptocurrencies, dispelling misconceptions that often conflate the two. Through targeted educational initiatives and strategic partnerships, the United Africa Blockchain Association seeks to equip Africans with the skills and knowledge needed to navigate the digital future. Soko's vision aligns with a broader goal of leveraging technology to address socio-economic challenges and create opportunities for a burgeoning young population in Africa.