…Unveils Whitepaper on Blockchain Technology
Africa’s leading integrated digital payment and e-commerce company, Interswitch Group, has unveiled its whitepaper on blockchain technology titled “Blockchain Technology: The Future of Africa’s Digital Economy” to help drive the growth of African businesses.
The white
paper document contains details on how businesses can leverage blockchain
technology to transform their businesses and the prospects it portends for the
future of Africa’s digital economy.
The blockchain
technology is a digital ledger that stores transactions. Essentially, it is a
digital system for recording transactions in multiple places at the same time
thereby making it impossible to falsify the data stored on it.
Akeem
Lawal, Managing Director, Transaction Switching and Payment Processing at
Interswitch commented, “The whitepaper document was inspired by the need to
demystify the ambiguity around blockchain technology for African businesses
thereby driving digitization and socio-economic growth across African markets. We are passionate about empowering Africans
and advancing the African payment landscape, and we are consistently identifying
opportunities and exploring innovative ways to enable businesses transform and
scale.”
He revealed
that the whitepaper document encapsulates the benefits of blockchain technology
and how it will help strengthen businesses because of its efficiency, better security
in keeping records and safety.
He further
said: “While the blockchain technology is a relatively new phenomenon in
Nigeria and Africa, we are particularly excited about our partnership with
Interstellar with whom we are developing a native blockchain infrastructure
that is tailored to suit the African market. This initiative will deepen
digital payment, lower the cost of local and cross border payment as well as
champion the cause for localization of emerging technology”.
He
urged everyone to read the whitepaper document because it addresses existing challenges
in the Fintech sector and simplifies the use of blockchain technology in
unravelling these challenges. To download the whitepaper, go to https://www.interswitchgroup.com/blockchain
The
blockchain technology is evolving globally and businesses are integrating the
Blockchain technology into their business infrastructure.
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