How Africa can leverage blockchain technology for growth
CNBC Africa’s Zanele Morisson spoke to Ernest Mbenkum, Founder of Bantu Blockchain Foundation and CEO at Interstellar for more.
Fri, 17 Mar 2023 11:11:57 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- The promise of blockchain technology in driving financial inclusion and empowering African youth
- The impact of regulations on stabilizing the market and attracting institutional players to the blockchain space
- The importance of education, due diligence, and governance in mitigating risks and ensuring the long-term success of blockchain projects
Blockchain technology has been a topic of hot debate recently, especially amidst the volatility in the market. Despite facing bankruptcies and liquidity issues, the technology continues to hold promise, particularly in transforming emerging markets like Africa. Ernest Mbenkum, the Founder of Bantu Blockchain Foundation and CEO at Interstellar, shared his insights on the potential of blockchain technology and the challenges it faces. Mbenkum highlighted the significance of blockchain beyond cryptocurrencies, emphasizing its role in financial inclusion, security, lower business costs, and empowering African youth in raising funds for their businesses. While acknowledging the volatility of cryptocurrencies, Mbenkum sees regulations as a key mechanism to stabilize the market and attract institutional players. As regulators around the world become more engaged, the future of blockchain technology looks promising. However, educating investors and implementing proper governance models remain crucial in mitigating risks and ensuring the sector's long-term success.
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