African National Congress Election Manifesto Cites Blockchain As the Game Changer


South Africa is gearing for the election coming this May. Cyril Ramaphosa, the current South African President is gearing up for the coming elections, and his party, the African National Congress has already released its manifesto in which they have talked about Blockchain as the modern tool for change.

South Africa has been plagued by the past Zuma government with 10-years of misgovernance and chaos. Now people have high-hopes from Cyril Ramaphosa and his ANC to take them towards a brighter future with meaningful change, honesty, and transparency.

The president during his latest speech in the Moses Mabhida stadium in the coastal city of Durban looked more of company's CEO than the President of the Country. Mr.Ramaphosa during his speech, he talked about the changes with the incorporation of the latest technological advancements and how the fourth industrial revolution is on the cards.

During his speech, the current president emphasized the need for a completely new system of working based on the latest technology, especially Blockchains, data analytics, and the internet of things

South Africa Has Started To Invest In Blockchain

The importance of blockchain and its real-world use cases are at an all-time high. Like many other governments, South Africa has already put in the efforts and research team for investigating the potentials of cryptocurrencies and blockchain.

The South African Reserve Bank (SARB) has started the project Koha with the help from Financial Intelligence Centre, Financial Sector Conduct Authority, and Treasury and the SA Revenue Service.

The research body behind the investigation of the possibilities has come up with positive results. The SARB has found a positive outcome from the trails of settling high volumes of payments using the Blockchain.

The implementations and trials for blockchain based financial system have been going on in the country for quite some time now. If the current president goes on to win the scheduled May elections, chances are South Africa would implement Blockchain based industrial use cases on a larger scale. Hopefully, the president keeps his focus intact, the South African people can hope for a brighter future.

Conclusion

The main aim behind the invention of Bitcoin was to help the people in underdeveloped and developing countries, by providing them with a financial system far from the clutches of few elites. However, the noise around the market value and its prices deviated the focus from the main goal.

2018 market crash has made many to rethink the value and need of Bitcoin and why the underneath technology of Blockchain is far more superior than its by-products. As of today the adoption and understanding have increased significantly and Blockchain is seen on par with the Artificial Intelligence. Hopefully, the approach continues, so that the countries like South Africa can come out of their decade long distress.

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