World Blockchain Summit Keynote: Evolution of Blockchain in Africa!

Evolution of Blockchain in Africa

The co-founder of BitHub Africa John Karanja opened the World Blockchain Conference in Nairobi by providing insight into the history of blockchain in Kenya and Africa. Starting his journey into blockchain in 2014, he recalled the challenges faced while running a startup, Cloud Pesa, which worked with mobile money like M-Pesa. Their venture eventually ran out of funds. However, a conference on Bitcoin reignited their interest, seeing its potential to integrate payments onto platforms like theirs. Over the years, there has been significant growth in the adoption of Bitcoin in Africa, with numerous events witnessing participation from hundreds. However, challenges persist, especially with the Central Bank of Kenya issuing warnings against cryptocurrencies.

John, emphasized the need for Kenya, particularly Nairobi, to emerge as a blockchain hub, drawing parallels with its early adoption of digital currency like M-Pesa. The conference would delve deeper into various topics including crypto wealth management, the role of blockchain in different sectors, and its socio-economic impacts. The speaker then transitioned into the core concepts of blockchain and cryptocurrencies, emphasizing the nature and importance of Bitcoin as a censorship-resistant peer-to-peer digital currency. He highlighted Bitcoin’s significance in the transaction of value over networks, adding to foundational protocols like HTTP and TCP/IP.