How Blockchain Creates Systematic Value

Over the last few years there has been a big research surge on Blockchain Technologies and simultaneously there have been many attempts at integrating them for a myriad of business applications.

Almost a decade ago Satoshi Nakamoto, the popular name behind the bitcoin development, bitcoin white paper author, and creation and deployment of bitcoin's original reference implementation described how blockchain technology could be utilized to resolve the problem of maintaining the order of transactions and to escape the double-spending problem, and privacy issues.

According to a report by Grand View Research, Inc. The global blockchain technology market size is expected to reach USD 394.60 billion by 2028. A survey on eight banks by Accenture Consulting shows that the potential savings on a cost base of $30 billion are more than $8 billion. According to another blockchain statistics for business benefits of a blockchain shows that 23% of respondents cite value chain and new business models as the main reasons for blockchain adoption by industry.

Blockchain is a system of values that could construct the outline for the coming time of the digital economy and Internet 2.0. The value propositions offered by the Bitcoin network include: Digital security, privacy, economy and investment model, and decentralized power. In addition, it can empower new types of peer-to-peer human joint efforts.

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To boost trade, Africa is simplifying international payment systems

It's hard to transfer money between African countries. The Ghanaian king settled a bill with a Nigerian attorney. His experience highlights a systemic problem impeding Africa's economic growth: high transaction costs and inconvenience. 15% of all imports and exports occur between 55 African countries. 60% of Asian trade is within Asia. 70% in EU. The difficulty of international payments hinders African trade. There are also high tariffs, long border procedures, and congested roads. Proponents of AfCFTA say easing trade restrictions will boost trade, FDI, and economic growth. 50 million people will be lifted out of extreme poverty by 2035 due to the accord's positive impact on real income, which is projected to rise 9.1%. Another issue: In Africa, currency values fluctuate. From July 2021 to 2022, Ghana's currency fell from 6 to 8. Volatile currencies make financial transactions more costly and risky. To overcome these problems, PAPSS facilitates financial transactions ...

How will Blockchain boost trade in Africa?

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