Blockchain technology holds incredible promise in Africa.

From enhancing international and domestic payment efficiency to enabling more transparent governance the technology’s application is wide and deeply impactful.

This is particularly true of what blockchain can do for African culture. For centuries, African culture and identity has been appropriated and monetized often exclusively for Western benefit. However, given the capacity to introduce new systems of ownership with blockchain and how this can be used to secure ownership of African art, music, games, technology, ideas, language, and more, we could potentially see a power dynamic shift unlike any other in history. From music to fashion, architecture to language, contemporary Western culture owes an awful lot to Africa and blockchain holds the key to making good on that debt.

We spoke with Erikan Obotetukudo, investor and founder of KIN and Crypto for Black Economic Empowerment (CBEE). Since witnessing the inefficiencies of African commerce and envisioning how blockchain could be used to not only cure these, but create new, more transparent, secure, and efficient systems, Erikan has been focused on proliferating the technology across the continent. Beyond financial optimization, Erikan also supports and leads black empowerment initiatives such as CBEE which utilize the technology as a means of economic empowerment across the continent and beyond.

Please also check out Erikan’s recent article: How NFTs will Revolutionize Africa — Forever (pt 1).

Key points

💸 Stablecoins could be used to enhance both domestic and international payments in Africa

💰 Blockchain enables new wealth to be introduced to African citizens

🧠 Decentralized organizations and reversing Africa’s brain drain

🌍 Bitcoin has already highlighted the potential for blockchain’s wider application across the continent

✊🏿 Blockchain can be used to take back ownership of African culture

🎹 Blockchain will change ownership structures and revolutionize the creative industry in Africa as well as the financial

Keep up to date with innovations, tech trends, and entrepreneurs in Africa by subscribing to Digital Africa.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit digitalafrica.substack.com