The world’s largest cryptocurrency exchange Binance (Bainansu) had their service Binance Labs has announced Mr. Benjamin Rameau ten reasons for commitment to Africa (the Board of Directors of Binance Labs) is.
Binance Labs mainly supports support for companies and projects that want to implement ICO.
10 Reasons Binance Commits to the African Market
1. Reverse trade
In 1960, the Asian economy was not thought to develop as much as now, and it seems that the per capita GDP per capita at that time was inferior to that of Ghana. Mr. Lamo seems that Africa is going to make an upfront investment as it is likely to achieve dramatic growth similar to the Asian countries from now on .
2. African financial backing shield
43% of people in Africa are over 15 years old who have their own bank account, they seem to be few compared to the average worldwide of 69%. Many Africans do not seem to have accounts to reduce the cost of maintaining and managing bank accounts .
Mr. Lamo says that he can do financial management independently from the local regardless of budget by block chain technology .
Historically most industrial revolution was to hire a large number of workers and to build a vast industrial park. However, in these circumstances, it seems that African countries are often in a disadvantageous situation compared to Europe and Asian countries.
With the spread of 3D printers in recent years and the design and engineering of cloud sources, it becomes unnecessary to establish a vast industrial park like before , companies in Africa can also fight in the same field as Europe and Asia It seems.
4. Conservation of Wealth
Since the cryptographic currency is not something that the government can directly manage, it is said that Zimbabwe does not have the possibility of monetary value corruption by government misperformance currency management .
Therefore, it seems that economic growth is expected by increasing the savings rate and investment rate by introducing encryption currency.
5. Employment creation
Supporting young entrepreneurs trying to contribute to society using block chains and backing up seems to be able to lead to the economic development of African countries.
6. Population of youth
It seems that young people are occupying a high percentage of the population ratio of African countries, and it seems easy to accept the technology of cutting-edge block chains and cryptocurrency .
7. Property rights
In Africa’s natural rights right there is double property right in one place, and it seems that such problem can be solved with block chain technology .
Almost all African public services are inefficient and seem to be caused by these as stagnating growth in Africa .
With block chain technology, it seems that these problems can be solved by people joining governance codes that are not governmental .
It seems that Africa is rich in languages and is said to have about 2000 languages, which seems to be an impediment to economic development .
When companies want to get help from banks in various countries it seems that it takes a huge amount of work each time, and Binance Labs which is DAO (Distributed Autonomous Organization) back up to solve the problem is.
10.Binance Labs is Africa
Binance Labs is a distributed organization, it seems that there are no geographical boundaries at the headquarters, offices, etc., and it seems to be similar to many countries in Africa. Binance Labs seems to be supporting all unauthorized countries.
What is the feeling of the current African block chains and cryptocurrency?
Currently, many African governments are still not favored by block chains and virtual currencies, and legal development is almost in place.
Even so, there must be a reason for Binance to commit to the African market.
It is important to know how Binance’s commitment to the African market will open in the future.
Africa 36 countries The block chains & virtual currencies are favorable only in 2 countries
Article Source: Medium, Youtube
Perhaps the gap between Thailand and Japan is getting buried sooner or later, the difference between African countries and Japan will gradually become buried. .
Author: Yush [Coin Desk News] – Source Post: https://crypto-times.jp/Binancelabs-africa-10reason/
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