Enhancing African Upliftment with Blockchain Technology

Blockchain Technology Transforming How Young Africans Interact

The latest edition of Cointelegraph’s Hashing It Out podcast explores the ways in which blockchain technology is transforming how young Africans interact with one another. Host Elisha Owusu Akyaw is joined by Eric Annan, CEO of Aya, a platform which leverages blockchain technology to deliver training and connect African youth to job opportunities.

Brain Export and the Limitations of the Educational System

After resigning from his job at a tech firm, Annan, a Web3 entrepreneur, ventured into the world of cryptocurrencies. He then went to Nigeria where his first business was unsuccessful due to alterations in regulations from the Nigerian central bank. To evade the standard financial system, Annan put his trust in cryptocurrencies, only to be scammed several times. Since then, Annan has been a vocal supporter of cryptocurrencies and blockchain technology in Africa.

Elisha points out that the concept of blockchain technology and cryptocurrencies having a major part to play in the future of Africa has become overused and its impact has been diminished. Nevertheless, Annan believes that blockchain could still be of great significance in light of the issues faced by Africans. The primary difficulty that many Africans must confront is international trade. While digital currencies like stablecoins have notably enhanced the situation, international systems like PayPal are still excluding the majority of Africans.

Drawing attention to the educational system, Annan believes it limits opportunities for young people. To counteract this, he has created Aya, a platform that enables Africans to develop their skills and access opportunities with ease. Furthermore, he argues that Africans should be able to access opportunities without having to emigrate, which he refers to as “brain export”, while being able to make a contribution to their local economies.

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Tune in to the full episode of Hashing It Out with Eric Annan on Apple Podcasts, Spotify, Google Podcasts, or TuneIn. Additionally, you can check out Cointelegraph’s collection of informative podcasts on the Cointelegraph Podcasts page.