Blockchain technology has been on the rise ever since the year begin and there is no stopping. The current Corona crises have its role to play in this whole situation and it has further pushed the rise and growing popularity of Cryptocurrencies like Bitcoin Revolution and Blockchain.
Every day we come across a new piece of news article talking about new developments taking in this space. Another such news came from Rwanda, Africa where the Government Blockchain Association (GBA) has entered a 5-year partnership with Africa Blockchain Institute to expand and establish the footing of this nascent technology in this region.
You must be wondering what is Government Blockchain Association (GBA)?
Well, this is a Global community found to create awareness, recognition about the Blockchain technology by making people understand it from the core. It has been going around the world helping various governments, institutions, and individuals understand the benefits of Blockchain technology.
The deal aims to further prepare and strengthen the grounds for new Blockchain developments that are yet to take place in the region. It is collaborating with the Africa Blockchain Institute which opened last year. The Institute is one of its kind and was started to offer professional courses on blockchain in the country.
Now, with this partnership, the Institute aims to further expand its knowledge in the Blockchain space and add more value to the courses offered by it.
The Institute has already been receiving good responses from students and that only points to one thing that the Youth of the country is highly inclined towards studying Blockchain technology which perhaps is going to rule the future. The head of the Institute said in an interview that the country is gradually moving towards Blockchain technology and is on its way to adapt it in all the major sectors starting from education first.
Rwanda has already been making remarkable strides in the Blockchain space. It has various projects in place which are currently based on Blockchain technology. Some of them are,
Spenn, a money transaction mobile app, a mineral tracing app, and a blockchain-based gorilla trekking mobile game. While some Nations are shy and apprehensive about adapting this technology, Africa has been on its feet since its inception. With this latest partnership, it is going one step ahead in ensuring the deepest penetration of blockchain technology in all the spaces.
The idea for its adaptation in the early stages is to make the best of its benefits later. In one of the remarkable statements, a lecturer at the University that we at this point in time do not even realize the full potential of the technology and hence are so apprehensive about its usage. Once we start comprehending it, there will be no going back, and it certainly will be ruling all the major industries.
Well, it seems like Africa is very smart and quick in realizing the huge potential this technology holds and wants to get a good command and control on it while it is in the nascent stage only.
The technology holds huge potential and once it is there it will be able to cut unnecessary costs while making money transactions. Whatever the kind of transaction we talk about, be it currency exchange, purchase of goods and services, peer-to-peer transactions everything at one point will be covered under this technology. Creating a new streamlined way of transaction that will be free of all the middlemen is the bigger aim here.