Binance Meets With Ugandan President, Plans to Support Nation With the Blockchain
From NewsBTC
The CEO of Binance has announced that the exchange is partnering with Crypto Savanna, a Ugandan blockchain startup, to aid in the economic development of the East African country, according to a Twitter post.Read more: https://www.newsbtc.com/2018/04/26/binance-meets-with-ugandan-president-plans-to-support-economic-development-with-the-blockchain/Binance and Uganda
Binance, the world’s largest cryptocurrency exchange by market capitalization, has plans to help bolster Uganda’s economy and create thousands of jobs for young people. Changpeng Zhao, the founder and CEO of Binance, is currently in the country where he is working with the local blockchain community to explore opportunities for collaboration, including an open meeting held with the Blockchain Association of Uganda (BAU).As per the Tweet, Zhao says his company is working on plans to ‘support Uganda’s economic transformation and youth employment through blockchain, embracing the 4th industrial revolution.’ The exchange says the partnership ‘will do this by creating thousands of jobs and bringing investments to Uganda.’
Zhao’s meeting with the BAU comes as a lead up to their Africa conference which is set for late May. The partnership also features prominent innovative figures in African development, including Aggie Konde, CEO of Msingi East Africa, and Helen Hai, CEO of the Made in Africa Initiative. Binance will be working with the organizations to explore blockchain options:
“Binance is tailor-making partnerships according to the environment,” the BAU quoted him as saying. “We want to understand the landscape and grow our understanding of the market.”
I hope this turns out to be a huge success and can be an example for more nations to move towards blockchain technology and crypto currencies. The developing world is such a great usecase. Coins like bitcoin and litecoin being adopted for everyday life can help battle the rampant inflation that often plagues African nations.
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Interesting... Crypto making waves already. That's a very thoughtful initiative from Binance. Its high time the general public see the potential of crypto and embrace it.
It is so great to see the early stages of the Blockchain revolutionizing the world as a whole for the better. The Blockchain transforms lives in places like Uganda where things need to have trust and people need jobs. Bravo to this article and to the Blockchain.
Binance is officially my favorite exchange. Long live Binance!
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Binance has been investing their resources in studying different economies. Helping the Ugandan economy will show us how the adoption of a blockchain by a government can pan out. Also, this continues to raise the question "Should governments issue their own cryptocurrency?" and if yes, then how should they do it and will it benefit the 'world economy'?