A pan-African open Blockchain business ecosystem is projected to develop a robust new generation of financial infrastructure in the continent.
Diversified investment group, Sekunjalo Investment Holdings has partnered with Chinese public Blockchain leader, Ultrain Technology Limited the business ecosystem, known as African Chain 3.0.
The African Chain will be run in unification with Sekunjalo’s pan-African eCommerce platform.
Its foundation will be built on the Blockchain model developed by Ultrain.
This would enable the handling payments, clearing and potentially, lending, among other key financial services, all of which is aimed at providing African people and businesses with convenience and accountability.
“It’s crucial to build a convenient, secure and reliable financial infrastructure for African people,” said Emma Liao, co-Founder at Ultrain.
“We believe this has huge potential to benefit the end users and businesses, with a better purchasing experience and more efficient transactions.”
Typical businesses anticipated to benefit from The African Chain include travel, luxury goods, supply chain, sharing economy, health care, retail, media entertainment and new energysectors.
“I am excited about this partnership and investment with Ultrain, as the potential to radically change and enhance how the continent does business, is unlimited,” said Dr Iqbal Survé, Chairman of Sekunjalo.
Ultrain and Sekunjalo have also jointly committed to directing a substantial part of the profitability of their partnership to philanthropic initiatives in the continent.
This will include the training of young Africans – with an emphasis on women- in block chain technologies and payment systems.
A further announcement regarding the partnership’s investment, will be made at the African Union (AU) meeting in Addis Ababa in 2020, with the Belt and Road Africa Council and Belt and Road Africa Fund.
– This story first appeared in the CAJ News