Interswitch unveils whitepaper on blockchain technology

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A citizen in Shanghai pays for fruits with digital RMB at a farmers’ market in the city, April 20, 2021. (Photo by Wang Gang/People’s Daily Online)

Africa’s leading integrated digital payment and e-commerce company, Interswitch Group, has unveiled its whitepaper on blockchain technology to help drive the growth of African businesses, according to the company.

The document, titled “Blockchain Technology: The Future of Africa’s Digital Economy” contains details on how businesses can leverage blockchain technology to transform their businesses and the prospects it portends for the future of Africa’s digital economy.

The blockchain technology is a digital ledger that stores transactions and records them in multiple places at the same time thereby making it impossible to falsify the data stored on it. 

Commenting on the innovation, Managing Director, Transaction Switching and Payment Processing at Interswitch, Akeem Lawal, said “The whitepaper document was inspired by the need to demystify the ambiguity around blockchain technology for African businesses thereby driving digitization and socio-economic growth across African markets. 

We are passionate about empowering Africans and advancing the African payment landscape, and we are consistently identifying opportunities and exploring innovative ways to enable businesses to transform and scale.”

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