During the African Blockchain Conference 2018, the CEO of Binance, Mr. ChangPeng Zhao announced that Binance is planning on amplifying their operations to Africa. Binance is one of the largest cryptocurrency exchanges in the world in terms of trading volume.
The conference was held in Kampala, Uganda on 23rd and 24th May and was aimed at providing information as to how blockchain technology can be adopted and its impact afterward. It discussed how fast blockchain technology is developing in Africa. The President of Uganda, Yoweri Museveni shared his view on the blockchain technology and its growing benefits.
The Chairman of Blockchain Association of Uganda, Kwame Rugunda said that:
“The conference will concrete mainly on how we can create an ecosystem based on blockchain and this would be an opportunity to position ourselves to be a vital part of global talks based on blockchain technology. Improved transparency and accountability in our governments and enterprises are one of the few benefits of including blockchain technology. These are the key factors in catapulting the economic growth of Uganda and making it an investment destination.”
During the Blockchain Conference, ChangPeng Zhao said that Binance is working on opening an exchange in Uganda, but are also looking to go beyond Uganda, to the whole of Africa including Kenya.
Zhao further added that:
“Uganda is a very good point to start, but we want to expand across the whole of Africa. They don’t want to just limit themselves by creating a local community just in Uganda”
He also said:
“We have tremendous interest in working with various organizations and we are always looking to partner up with as many as organizations as we can.”
The African Blockchain Conference had brought together more than 21 African nations to discuss the growth, progress, and future of the blockchain technology. It was organized by the Blockchain Association of Uganda in collaboration with Crypto Savannah, a blockchain innovation platform based in Uganda.
Crypto Savannah has collaborated with Binance to support Uganda’s economic transformation and youth employment with help of blockchain technology. They are working towards creating jobs and increasing the investments in the country. Binance is working on providing training, structural change, and support start-ups and new entrepreneurs innovating with blockchain technology.
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