Africa can create an inclusive society with a blockchain, says CEO of LBank

As one of the most populous continents in the world, Africa continues to be an important target for blockchain supporters, as adoption in the region can have a significant impact on the broader crypto-economy.

In an interview with Cointelegraph, Allen Wei, CEO of the crypto exchange LBank, explained that blockchain can have a significant impact on Africa. Furthermore, Wei emphasized that adoption in the region can have an effect on crypto and emphasized the importance of supporting projects across the continent.

Blockchain offers an opportunity to solve Africa’s economic problems, according to Wei. With this, the management emphasized that technology could create an inclusive society on the continent. He explained that:

“With the help of blockchain, Africa can create an inclusive society with a robust economy and the highest standard of living. A larger economic system can be built where more people will be employed and have access to greater wealth than ever before. “

Apart from the blockchain’s impact on Africa, the LBank CEO also emphasized that the region can also have a major impact on the broader crypto ecosystem. Due to the large population in the region, Wei believes that adoption in Africa will make it easier for other regions to accept crypto as well. Wei sa:

“With such a large number of people using cryptocurrency, it will be easier for others around the world to accept it as well, which will lead to a positive turnaround in the crypto economy.”

Furthermore, Wei also expressed that helping the region means that the crypto space will simply have a wider reach. “If we can help Africa become one of the most crypto – friendly continents on the planet, we will be able to reach a larger audience than ever before,” he said.

In addition, the LBank CEO also spoke about the importance of financing the growth of local projects in the region. While the region has potential, Wei noted that crypto and blockchain projects in Africa often face funding challenges.

Related: Lending networks enable transparent credit history in Africa through blockchain partnerships

The LBank chief also mentioned that this is one of the reasons why their venture capital alert has launched an accelerator program to help local projects on the continent. Wei believes that through this, more jobs can be created, and the region’s revenues can increase.