Please describe your proposed solution.
<u>Project Brief</u>:
We have come to realization that, at the the individual level, African Lawmakers can accept Blockchain and utilize it. therefore we want to have a have a one-on-one onboarding initiative with the local government representatives.
The Sub-Sahara Africa Project aim to engage with policy makers and local government representatives on a sensitization workshops and one-on-one meetings with the Projects Team; not to persuade but to discuss how Africa can increasingly advance in socio-economic growth through the adoption of cryptocurrency transactions and Cardano blockchain technologies for e-commerce and entrepreneurship frameworks and to onboard the local Government representatives on Cardano Blockchain and Project Catalyst at the individual levels. Fundamentally, the African continent must progressively embrace virtual currency technologies such as Cardano.
This is because Cardano mission in Africa is offering multiple advantages towards easing the way of doing business transactions across the African continent. However, there is still some hesitation within Africa’s governments towards fully adopting and adapting blockchain technologies to enhance digital financial services.
Principally, part of the sluggish embrace of the blockchain technology is due to the decentralization of the technology, making it difficult for governments to control such a technology.
However, such disadvantages should not discourage adoption of blockchain technologies, including cryptocurrencies, because of the upsides that blockchain technology-based solutions can bring for Africa’s challenges.
For example, Africa is reported as the second highest population that remain without banking facilities and technologies among adults in the world. This population is approximately 350 million people across the continent, totaling up to 17% of the global population.
<u>Focused Audience</u>:
Policy makers, Local government representatives, Traditional Banks Operators.
Please describe how your proposed solution will address the Challenge that you have submitted it in.
<u>Challenge Key Metric:</u>
fundamental issues preventing Cardano adoption in Africa (priority)
The One-on-One meetings with Government Officials to discuss how Cardano Blockchain technology can support Africa’s financial digitalization and how this digital revolution can rescue numerous of Africa’s economies.
Number of new African projects seeded in 2022 (priority)
The Project Team believes that such a digitalization adoption can effectively enhance the service delivery with certain products and services through efficient institutional digitalization processes and data management in Africa.
Local partnerships formed (size of institution + influence) priority
The Workshop’s goal is to gather together practitioners, researchers and people from industry to discuss the progresses on the practical usage of blockchain technologies and smart contracts, focusing on the application and definition of software engineering principles and practices specific for such software technology, and for the technologies relying on it for government officials.
What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
For-seen Risk:
Unfortunately, several African countries have banned the utilization of blockchain applications such as cryptocurrencies and consequently, this becomes a limitation towards socio-economic growth because of fears associated with financial fraud, difficulty in taxation control measures, and illicit financing of terrorist operations.
Mitigation Message:
Regardless of such challenges, cryptocurrencies are still touted as the solution to the unbanked Africans because they afford easier access to financial capital investments in the remotest communities.
https://crystalblockchain.com/articles/2021-crypto-regulations-in-africa/