Blockchain technology was initially applied solely in cryptocurrency transactions such as bitcoins; however, with the rise of blockchain-based applications, the potential benefits of this ground-breaking technology are unparalleled.
It is worthy to note however, that blockchain is a disruptive technology, hence, it is essential that effective planning and research is done before applying blockchain to different sectors of the African economy.
Governments of developing economies like Africa also need to stimulate entrepreneurial awareness of emerging technology through training and promotion to facilitate investment readiness.
Similar to every emerging technology, the adoption of blockchain to its full potential is dependent on the extent to which relevant stakeholders take the lead in supporting and unveiling market-creating innovations in blockchain platforms.
This book explains how blockchain is being applied across various industries in the world, and how Africa, particularly Nigeria, can use it to increase efficiency and transparency.