Blockchain could prevent tragedies, boost revenue and enhance business confidence
SA would benefit from the new technology, which allows for transparency and access to knowledge
SA has a unique set of developmental challenges over and above the global challenges of being part of the world economy. Instead of being an add-on, it is becoming increasingly clear that technology has the capacity to underpin rapid advancements in transparency and accountability, while simultaneously holding the keys to unlocking new revenue streams and competitiveness. There is much hype around blockchain technology and the potential impact it could have on Africa. Blockchain can drive innovation, accelerate business and reduce risk and costs associated with common business processes. It builds a growing list of unalterable records, called blocks, that are linked together to form a chain and are securely distributed among participants. Every block includes a link to the previous block, as well as a time stamp. The technology plays a role in establishing identity and trust because no-one is allowed to make any changes to the blockchain without the corresponding keys. These records...
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