Africa became a new target of Binance

Binance CEO, Changpeng Zhao announced that the exchange, one of the largest cryptocurrency exchanges in the world in terms of trading volume, is planning on amplifying their operations to Africa, during the African Blockchain Conference 2018.

The conference was held in Kampala, Uganda on May 23-24 and it was aimed at providing information about the way the Blockchain technology can be adopted and its impact afterward. It was also discussed the speed of Blockchain development in the continent. Moreover, the President of Uganda, Yoweri Museveni, shared his opinion on the tech and its growing benefits.

The Chairman of Blockchain Association of Uganda, Kwame Rugunda said that:

“The conference will concrete mainly on how we can create an ecosystem based on Blockchain and this would be an opportunity to position ourselves to be a vital part of global talks based on Blockchain technology. Improved transparency and accountability in our governments and enterprises are one of the few benefits of including Blockchain technology. These are the key factors in catapulting the economic growth of Uganda and making it an investment destination.”

During the Conference, Zhao stated that Binance is working on a launching of an exchange in Uganda, but they are also examining the possibility of expanding to the whole of Africa, including Kenya.

As cited by AMBcrypto.com, Zhao further added that:

“Uganda is a very good point to start, but we want to expand across the whole of Africa. They don’t want to just limit themselves by creating a local community just in Uganda”

He also said:

“We have tremendous interest in working with various organizations and we are always looking to partner up with as many as organizations as we can.”

The African Blockchain Conference was a unique opportunity for more than 21 African nations to discuss the growth, progress, and future of the Blockchain tech. It was organized by the Blockchain Association of Uganda in collaboration with Crypto Savannah, a Blockchain innovation platform based in Uganda.

Crypto Savannah in collaboration with Binance has supported Uganda’s economic transformation and youth employment with the assist of Blockchain tech. They are working towards creating jobs and increasing the investments. Lastly, the exchange is working on providing training, structural change, and support start-ups and new entrepreneurs innovating with Blockchain technology.

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