While cryptocurrencies have received huge attention across the continent over the past year, innovative companies have busy utilising blockchain in Africa to build new services, increase efficiency and drive transparency.
We take a look at the ventures shortlisted for Best Blockchain Innovation at the AppsAfrica Innovation Awards 2018.
Custos aims to protect content by curbing media piracy and data leaks using patented blockchain technologies to embed unique cryptocurrency bounties into media items. What makes Custos unique, is that it rewards individuals in piracy networks across the world to report on pirated content. A distributed network of bounty hunters find these extracts on pirated copies, and Custos is informed via the blockchain.
Fintech is preparing Africans for the Fourth Industrial Revolution by providing financial inclusion for the 85% of unbanked adults in Sub-Saharan Africa. It addresses the problem of fraud and lack of accountability in money transfer. Fintech is built on blockchain and have a created a highly secure platform that can be used to facilitate near instant mobile payments, Peer2Peer lending, international remittances, financial inclusion for the unbanked, especially in Sub-Saharan Africa and the ability to track transactions and build credit scores.
SovTech wants to create economic and social value on a pan-African scale through helping businesses to achieve their goals by using custom blockchain software in the development of businesses. Their business model allows for a sustainable dispensation of tokens to all Citizens around the world while using blockchain to track where and how funds are being used. The app enables vetted vendors to offer goods and services in their area and have these services freely marketed on the application. They do this by issuing tokens each day on the blockchain and to each users wallet. Each newly registered citizen is baked into the blockchain therefore the entire solution is completely secure and partially decentralised.
The AppsAfrica Awards supported by Uber, JET8¸Syntonic, KaiOS and Mobile Monday South Africa (MOMO) provide winners with industry recognition, global publicity, and networking with 300+ industry peers at the Awards party in Cape Town on November 12th on the eve of AfricaCom. Category winners are also invited to Africa Tech Summit Kigali 2019 to join 400+ tech leaders from across the continent.