African Blockchain Startups

Despite cryptocurrency markets experiencing a bear market since the start of the year, African blockchain startups are focusing on implementing distributed ledger technologies as they look to solve everyday challenges with this innovative new technology.

In this short review, you will discover four high-profile blockchain startups that are spearheading innovation in Africa.

BitPesa

BitPesa is a blockchain startup that focuses on cross-border business-to-business  and bitcoin exchange services. The company was founded in 2013 by Elizabeth Rossiello, with the aim of providing an alternative payment system to consumers that would surpass legacy systems and reduce the cost of money transfers. BitPesa incorporates blockchain technology to hasten payments by utilising its peer-to-peer nature for transactions and relies on bitcoin (BTC) as a transactional currency.

Golix

Golix is a Harare-based cryptocurrency exchange that was founded in 2014. Formerly known as BitFinance, the local exchange aimed to offer digital currencies as an alternative to alleviate the economic woes brought about by Zimbabwe’s failing monetary system. In 2018, Golix set its sights on the broader African market and announced a token sale.

Wala

Wala is a blockchain startup that offers remittance services and payments using an Android app. Launched in 2017, the company aims to offer financial services to the un(der)banked through strategic partnerships with banks and financial institutions and at low cost. The goal is that Wala users will be able to open bank accounts, apply for credit, access remittance services, purchase value-added services and transact with retailers and merchants.

CentBee

CentBee is a cryptocurrency wallet provider and offers payment processing services for merchants. The South Africa-based blockchain startup was founded by Lorien Gamaroff and Angus Brown, and its vision is to allow users to make payments for products using bitcoin cash (BCH) and settle payments in digital currency at accepted retailers.

(excerpt from longer review on https://bitcoinafrica.io/2018/12/14/african-blockchain-startups/)

Picture by courtesy of FinMag https://finmag.ir/