Hello and warm welcome to my Crypto Africa series post.
Crypto Africa is the name I choose for my post of Blockchain technology and Cryptocurrency adoption across Africa.
On today's edition, I write about Funding being a problem to blockchain startups in Africa.
In most parts of the world, Cryptocurrency is seen as a means of investment and investors get obsess over their price movement. However, In Africa, Cryptocurrency is seen as a means of transforming lives and standard of living.
One of those at the front foot of transforming lives has been Wala a Blockchain startup company in Uganda. Wala uses its Dala Cryptocurrency and blockchain ecosystem to facilitate cheap, efficient and swift movement of funds.
Wala launched the Dala protocol and its marketplace in April 2018. This protocol is powered by the $Dala Cryptocurrency ; a multi-chain cryptocurrency that relies on Stellar to complete transactions and on Ethereum for its wallet (ERC-20).
Transforming Africa
This wala and protocol enable users to carryout transactions such as; purchasing of airtime, paying for water bills, paying for electricity bills and even paying school fees. This has been the case among Ugandans, Zimbabweans and even South Africans.
Also, Wala has partnered with CleanPath Emerging Market to launch a Blockchain powered Gigawatt-scale solar program which has received support from the Ugandan government through its ministry of energy. By this partnership, Ugandans would be able to pays electricity bills with Dala Cryptocurrency.
With the youths making up over 80% of Uganda's population and a majority of them being educated, blockchain and Cryptocurrency adoption is eminent in the country.
The future sure looks bright for Uganda.
Thank you for your time!
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