The Pivotal Role of Blockchain Technology in Africa's Development: A Comprehensive Review (2024)

See all articles by David Mhlanga

David Mhlanga

University of Johanneburg

Abstract

This study examines blockchain technology's use in Africa and its potential benefits for the region. The article offers a thorough assessment of previous literature on blockchain research in Africa and contains case studies of productive blockchain projects on the continent. According to the study, blockchain technology has the potential to help Africa overcome several developmental obstacles, such as poverty, a lack of financial inclusion, and a lack of trust in institutions. The article lists several obstacles, including a lack of infrastructure, a lack of legislative framework, and a lack of information and understanding, as reasons why the adoption of blockchain technology in Africa is still in its early stages. To fully grasp the promise of blockchain in Africa, the essay finishes by noting the areas that require additional research. Furthermore, it offers a general review of the state of the art in blockchain technology and its possible applications in Africa. The information in this article will help policymakers, practitioners, and researchers in the field better grasp the possibilities and difficulties of blockchain technology in Africa.