The government of Kenya’s alliance with the Venom Foundation has been inked for a blockchain hub in Africa, which could benefit several countries.
The government of Kenya has made yet another effort to convert Africa into a center of blockchain activities by announcing a joint effort with the UAE-based Venom Foundation. The blockchain platform from Abu Dhabi would help the government of Kenya to set up a blockchain hub, which could help several entities in Africa.
Various sectors and industries of Africa, including cross-border trade, supply chain, finance, and agriculture, could derive benefits from the blockchain hub. The private sector and government departments could start a vibrant knowledge transfer system boosted by the blockchain hub.
The Venom Foundation would be responsible for sharing its expertise on blockchain technology, lending resources and tools for various blockchain use cases in activities like land registry, tokenization, and others.
Kenya’s Cabinet Secretary, Moses Kuria, who is in charge of investments, welcomed the collaboration and said that the blockchain hub could be a catalyst for several industries in Kenya and abroad.
The Venom Foundation said, “The Kenya Blockchain Hub will provide essential tools and resources to support African nations in building a robust foundation for digital transformation. By implementing blockchain-based solutions, we aim to promote transparency, efficiency, and trust throughout the continent.”
The blockchain platform also lauded the government of Kenya for its concerted efforts in the adoption of blockchain technology for its country. Africa’s progress in adopting blockchain technology continues to be appreciated by the industry, as the region has continuously made efforts to welcome emerging technologies.
Christopher Louis Tsu, the CTO of Venom Foundation, was also of the view that combining blockchain technology with Africa’s resources and human capital would be extremely favorable for the countries in the region.