July 24, 2019 Jim Teicher

Digital Currency is Valuable for sub-Saharan Africa

Consumers will drive the growth of digital currency, which will and must become part of our daily lives in sub-Saharan Africa.  This is the essence of my remarks when I introduced the amazing panel titled “Consumer Led Innovation” at the WestAfricaCom conference in Dakar.

Technologies like blockchain and digital cash are particularly valuable because they bring the promise of transparency and trust. Blockchain provides a new way to exchange money and other valuable information without fear that it will be stolen or modified.

Telecom should be a leader in this new space. The technology is new and challenges remain, and the telecom ecosystem counts among the key players who must implement it successfully.  For more information about the impact of blockchain on international development see the USAID Primer on Blockchain.

The true test of success will be growing consumer demand to use blockchain in ways that make life easier and more affordable. The benefits of transparency and trust will impact the delivery of public services in ways that bring new efficiencies and renewed integrity to the government.

About the Author

Jim Teicher Jim Teicher founded CyberSmart Africa in 2007 with the single minded vision for every school to deliver a meaningful and affordable 21st century education—especially focusing on the poor schools others ignore. Jim is cofounder and CEO of CyberSmart Education (USA), a leader.. see more https://www.cybersmartafrica.org/about/