Blockchain technology can help empower women

The Director General of the World Trade Organization and former foreign and finance minister of Nigeria, Ngozi Okonjo-Iweala see that blockchain technology could help empower unbanked and underbanked women around the world. Since blockchain brings transparency to business using blockchain and removes intermediaries, this particular finance area has the ability to introduce and will be beneficial to women that are excluded from access to finance. Many countries don’t allow women to access financial services more than men. Experts proposed using cryptocurrency and blockchain technology to promote financial inclusion in areas that lack the same infrastructure as developed countries, particularly women that face long travel accessing credit providers and restriction on opening bank accounts and not even being allowed to legally own a property.

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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 ...

A more accessible blockchain-based app dev in progress

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