The narrative that blockchain technology could revolutionize how people interact with technology in Africa may not be stale after all.
The latest episode of Cointelegraph’s Hashing It Out podcast delves into how blockchain technology is changing how young Africans interact with each other. Joining host Elisha Owusu Akyaw for the conversation is Eric Annan, the CEO of Aya, a platform that uses blockchain technology to provide training and connect Africans to the job market.
Annan, a Web3 entrepreneur, entered the cryptocurrency space after resigning from his job at a tech firm. He then moved to Nigeria, where his first business failed due to regulatory changes from the Nigerian central bank. He gravitated toward cryptocurrencies to escape the traditional financial system, which proved problematic after he fell victim to several scams. Since then, Annan has advocated for cryptocurrencies and the use of blockchain technology on the African continent.
Elisha highlights that the narrative of blockchain technology and cryptocurrencies playing an important role in the future of the African continent has become monotonous and has lost some of its meaning. However, Annan explains that blockchain could yet play an important role considering the problems Africans face. According to the CEO, the biggest issue most Africans must tackle is intercontinental trade. While cryptocurrencies like stablecoins have significantly improved the situation, international platforms like PayPal continue to shut most Africans out.
Annan also draws attention to the education system, which he believes limits opportunities for young people. He explains that he built Aya to counter this by creating a platform that makes it easier for Africans to upskill and connect with opportunities. What’s more, he argues that it would be much better if Africans could access opportunities without having to leave their home countries — something he describes as “brain export” — while being able to contribute to their local economies.
“This time round, not brain drain but brain export.“
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Listen to the full episode of Hashing It Out with Eric Annan on Apple Podcasts, Spotify, Google Podcasts or TuneIn. You can also explore Cointelegraph’s full roster of informative podcasts on the Cointelegraph Podcasts page.
