Binance, the world’s largest cryptocurrency exchange has recently partnered with Ugandan Blockchain organization Crypto Savannah, in order to support the economic development of the African country. The confirmation comes from a tweet from the Binance CEO Changpeng Zhao on April 22.
The exchange platform is looking forward to supporting Uganda’s economic transformation and youth employment through blockchain. If the current plan of action is successful, Binance and its partners will create thousands of jobs throughout Uganda. The specifics of the project is yet to be announced publicly, although it is expected that these projects will bring more investment to Uganda.
Additionally, Binance is joining forces with Msingi East Africa CEO Aggie Asiimwe Konde and Made in Africa CEO Helen Hai. Together, they form a powerful collaboration which can certainly transform the economy in Uganda.
Uganda, along with other African nations, is not the ideal place when it comes to employment, technology, and innovation. Binance is looking to trigger the next industrial revolution in those areas; slowly, but surely. The African continent is a promising spot for Blockchain companies in the financial sector. A large portion of the population on the continent does not have access to banks, and over 30 mln Africans work abroad to send remissions home, so technology that allows people to connect with a financial system may find mass adoption there.
It is of the utmost importance for cryptocurrency companies to make a positive impact on the world as they are constantly under the scanner of its critics. Since Binance has put themselves in a position that allows them to have the luxury of doing philanthropic activities, it is an opportunity for them to not only improve their public image, but also the perception of the crypto industry as a whole.