Binance Labs: "Investing in Africa could be the best trade of the century"

03 Sep, 2018
by Will Heasman
News
Binance Labs: Investing in Africa could be the best trade of the century

The director of Binance Labs Benjamin Rameau has detailed the company’s commitment to invest in Africa and the projects emanating from around the continent.

In a Medium post put out by Rameau, he states that the company's investment isn’t purely an altruistic helping hand but instead asserts that “investing in Africa could be the best trade of the century”.

Rameau offers a myriad of reasons as to why Africa is the bet of the century, citing Africa’s lack of bank dominance; allowing cryptocurrencies and the surrounding technologies to thrive without being as restricted (as they are within countries where banking is firmly established). India's central bank is a prime example, with their ongoing impediment on crypto related business.

The post also mentions the way that blockchain will revolutionize public services, enabling economic incentives and decentralized forms of governance that free communities from the shackles of poorly organized/non-existent local authority.

A similar sentiment was shown by the Bancor protocol who last month made history by enabling the first community currency transaction on the blockchain. This saw Kenyan locals to trade goods between communities where currencies differ. The initiate hopes to extend to facilitate voting and other community services.

 Read more: A bitcoin gold mine is emerging and it's in one of S. Africa's biggest townshipsBancor is using blockchain to fight poverty in Kenya; Nigeria set to launch its own blockchain hub, endorsed by the state

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