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New research from UWIN (Unleashing the Wealth in Nations), a new blockchain business aiming to transform farming and commodity trading in Africa and other parts of the developing world, reveals that 70% of professional investors believe blockchain and modern technology will have a positive impact on Africa over the next five years. Around one in six (16%) think it could have a ‘huge’ impact over this period.
Julius Akinyemi, CEO of UWIN said: “You can see the positive impact technology in general is already having on all aspects of African life. In East Africa for example, penetration of smart phones is expected to hit at least 50% by 2020 up from only 2% in 2010. This is something that 78% of professional investors we interviewed think will be important in helping African economies grow.”
UWIN’s research revealed 51% of professional investors believe African economies are well positioned to benefit from rapidly accelerating technological change such as blockchain as it can unlock growth and leapfrog the limitations and costs of physical infrastructure in key areas of economic life. Only 29% of those interviewed disagreed with this view.
Sandra Ro, Managing Partner and COO of UWIN said: “The potential for technology and blockchain to change the world for the better has never been greater. Growth and development in Africa is being held back by several factors including poor infrastructure, and technology can help leapfrog these challenges.”
UWIN is currently in discussion with African governments on how they could use its new and unique technology proposition that for the first time will enable farmers in the developing world to properly register their commodities, mobilise them and efficiently trade their produce on a trusted platform.
