Africa’s blockchain journey begins with poverty alleviation — SumoTrust CEO

Many people have actually called for Nigeria and Africa to include blockchain technology into everyday life; however, poverty should initially be dominated before blockchain innovation can be correctly integrated into society, according to GT Igwe Chrisent, the CEO of SumoTrust, an online savings and investment platform; and Truzact, a crypto wallet.At the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN) Digital Assets Summit 2023, held in Nigerias capital, Abuja, Chrisent specified that cravings and poverty should initially be removed from Africa prior to attaining a better level of blockchain innovation integration.Chrisent (right) at the SIBAN Digital Assets Summit 2023. Source: SIBANAccording to a World Bank report entitled “A Better Future for All Nigerians: Nigeria Poverty Assessment 2022,” simply 17 percent of Nigerian workers hold the finest wage jobs to lift individuals out of poverty.In Chrisents view, assisting the poor relocation to the middle class would be the most significant motorist of faster blockchain technology adoption because it enables people to pay for three square meals everyday and have a little extra to save. The CEO said that the stability of the economy in Africa is essential to facilitating this:” If we do not fix that, well keep having these conversations over and over again” Despite the additional scalability that comes from incorporating blockchain technology into society and the economy, people can not focus on checking out the innovation while still battling to provide fundamental amenities, stated Chrisent.