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South Africa: Emerging Tech Blockchain Can Reduce Unemployment

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South Africa: Emerging Tech Blockchain Can Reduce Unemployment

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  • South Africa Presidential Commission on the Fourth Industrial Revolution believes that blockchain can be leveraged to fight unemployment in the country.

South Africa believes that emerging technologies such as blockchain and AI have the potential to lower the unemployment rate in the country. Member of the Presidential Commission on the Fourth Industrial Revolution(4IR), Mpho Dagada, in the Blockchain Africa conference stated the numerous advantages of blockchain and how different sectors in the country could benefit from them to reduce unemployment and increase the GDP.

Dagada stated that the mining sector among others could benefit immensely from the transparency offered by blockchain. Dagada told Cointelegraph:

“When we look at where the world is going, it’s important to leverage our strengths and align with that. If the world is moving towards more blockchain systems that are transparent and people want that, we know there is strength in Africa’s minerals and why not plug that in top of that sector? We might find that we’ll solve the problems we have, like corruption or bringing access to markets.”

Dagada further stated that crypto and blockchain are endorsed by the South African government so long as people do not indulge in illegal activities such as tax evasion.

The report further stated that the South African National Blockchain Alliance will be launched in April to bolster blockchain tech in the country and open ways for collaboration with other sectors.

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