(African Economic Research Consortium, 2023-02) Thegeya, Aaron
Blockchain technology offers the potential to transform economic activity and improve
living standards in Africa by overcoming information asymmetry problems, property
rights and governance barriers. Blockchain innovations have the ability to boost
levels of productivity and unlock capital flows to underserved sectors, in addition
to leveraging the increasing returns of information as an input to production to spur
economic growth. This background paper discusses the recent advances in blockchain
technology within Africa, and investigates the underlying economic principles of
blockchain networks, both universally and in an African context. It reviews the enabling
infrastructure and supporting technology, including digital identity. Finally, it gives
policy recommendations to increase the uptake of blockchain technology on the
continent