Bitcoin may have taken Africa by storm, thrilling a generation of young tech savvy entrepreneurs hungry for alternative investments but it is not just the currency side of the technology that is making waves on the continent.

Companies are turning to blockchain – the secure, continuously growing digital ledger that underpins cryptocurrency transactions – to devise solutions to domestic issues. And with all the ingenuity of bitcoin, and none of the volatility, it has the power to be transformative in Africa.

Story from National Business. Story by Charlie Mitchell.

African blockchain is at a crossroads. “Governments can choose to be in a race to be the most restrictive, or alternatively to be the most embracing and innovating when it comes to blockchain technology,” says Neil Blazevic, founder of Africa Digital Assets.

Many African countries suffer from instability and poor financial and physical infrastructure. Blockchain, with its exchanges secured by cryptography, thrives in such environments.

“The best uses for blockchain are seen where many parties from different sectors lack trust, or have different interests,” says Mr Blazevic, “as it can reduce corruption, increase transparency, automate accounting and improve processing times.”

Read more at National Business.