Transforming Africa: Meet the Top Blockchain Firms – Report

by Arthur · April 21, 2023

Blockchain technology has the potential to revolutionize companies and positively impact millions of lives in Africa by removing borders and barriers. More businesses and sectors are using this technology to drive innovation, drive change and improve efficiency. In this article, we will delve into the forefront of this trend.

According to a CV VC researchThe following firms are embracing blockchain technology to change the narrative in Africa:

Table of Contents

Fintech: Ivorypay

Ivorypay is an exciting South African business that has developed a complete suite of e-commerce, point-of-sale and payment tools, enabling entrepreneurs across Africa and even internationally to enable their commercial activities using cryptocurrency. Blockchain has long been hailed as the ideal payment rails for agile business within and across borders, and Ivorypay makes this theory a reality by enabling automated crypto-based subscription payments, QR payment solutions, crypto-enabled e-commerce checkouts and more.

Ivorypay customers’ ability to use QR and mobile, wallet-based payments enables one of South Africa’s most important economic sectors, informal commerce, by allowing them to make and receive payments for goods and services that do not require cash. Kucoin, Maplerad, Nyayomat and MFS Africa (In Collaboration) are among the other top African Fintech firms using blockchain.

Energy: Moment

Moment is Africa’s largest NFT platform and a provider of tokenization solutions for real-world alternative asset classes. It has created a blockchain-based system that allows South African citizens to invest in and profit from alternative energy sources. Users can buy NFTs that reflect solar unit owners and share in the value growth upside and income generated by the solar cell.

This unique idea allows consumers to invest in renewable energy and contribute to sustainable development while earning financial benefits. Sinan Energy and Sun Exchange are two others.

Healthcare: Afya Rekod

Afya Record is a Kenyan-based digital health platform that stores and verifies health data using blockchain and AI technologies. It has just launched its dynamic EHR feature, which stores patients’ medical information at the point of service and uses sophisticated analytics to predict when they may be due for preventive health screenings and alerts them and their healthcare providers.

Education: Web3 Sanctuary

Web3 Sanctuary is at a critical juncture in its development, and it is at the forefront of a new generation of edtech businesses. It focuses on Solidity, the smart contract programming language used in the EVM ecosystem, and provides a challenging yet entertaining training experience.

The goal is to place certified Solidity developers in jobs that are a good fit for their skills, personalities and hobbies. Sanctuary helps individuals enter areas where they can use blockchain principles to offer value and provide social impact in a rising African market.

Government: Kenyan Independent Electoral and Boundaries Commission (IEBC)

The Independent Electoral and Boundaries Commission (IEBC) is Kenya’s main authority for the design and administration of the electoral procedure. The IEBC proposed a new set of digitally facilitated electoral processes for the 2022 Kenyan presidential election, which was heavily influenced by blockchain organizational structures, particularly the Bitcoin network and its consensus mechanisms.

KIEMS (Kenya Integrated Election Management Systems) kits were sent to over 46,000 polling stations around the country to capture and verify each registered voter’s biometrics against their identification information. Manually signed votes and forms were used to verify an additional layer of trustless consensus. The IEBC made available on its website the data from each polling station, which could be independently verified by journalists, voters and others.

Core blockchain infrastructure: Scroll.io

Scroll.io is an Ethereum-native zkEVM Layer 2 scaling solution that supports all EVM-based smart contracts and infrastructure. It processes blockchain transactions and calculations using zero-knowledge (zk) cryptographic roll-up technology, reducing transaction costs and increasing speed.

This enables customers to use affordable and efficient payment systems, apps or financial services. Forward Protocol is another. Blockchain technology has the ability to transform companies and the lives of millions of Africans by crossing borders and breaking down barriers. It is one of Africa’s newest infrastructures, used by businesses and industries to innovate, change and increase efficiency.