The precarious commercial activity and the facilities offered by the cryptographic market has helped more and more people from African countries to get involved with cryptocurrencies
For some years, large cryptocurrency companies have found in some African countries the advantages and freedoms that they have not received in more developed countries.
This is the reason why exchange companies such as Binance have the task of expanding its crypto-market in countries like Uganda, also serving as support forNon-Governmental Organization (NGOs) that seek to help the most vulnerable sectors of these poor countries.
Whilst companies dedicated to providing blockchain and cryptocurrency solutions have had a very selective acceptance in some more developed countries, it is clear that they have not being welcomed with open arms. Many times these new technologies are not advanced enough to provide users with a perfect control of the cryptoactives and they are still vulnerable to certain levels of scams or theft caused by cyber attacks.
Despite this, in some African countries the “boom” has been greater due to high levels of poverty, low industrial production, corruption, among other issues. Cryptocurrencies make it easier for some merchants in these countries to have a higher level of access to foreign products, as well as to produce assets that they can then exchange for fiduciary money or for goods and services.
It is for this reason that companies such as Binance have successfully settled in these countries where a banking system that can perform some type of prohibition or regulation is not well established, which in turn increases the income of commercial mobility within the territory, increasing the welfare of the citizens and establishing a viable option to develop commercially.
Thanks to some advantages such as not needing a bank to operate, many people from these African countries have been increasingly involved in the cryptographic world, which allows increasing the number of cryptoexchange companies in the continent.
Binance Signs an Agreement to Improve Uganda Educational System
Crypto-companies such as Binance have not only strengthened the commercial market with crypto-technology, but also they support and finance campaigns that help these countries cope with commercial and social failures.
It is for this reason that recently, the Binance Charity Foundation (BCF), the charity organization of the Binance Company, has signed a Memorandum of Understanding with the NGO of Uganda Safe Future, in order to improve the educational system of that African country.
The Binance for Children Special Impact Education Project Uganda has as main mission to provide to some schools supplies that can help students and teachers to continue their work.
Among the supplies that have been donated to each school is an ecological energy system with solar panels, LED TVs, school supplies, as well as food to activate dining rooms to provide breakfast and lunch to their students.
Mula Anthony, Safe Future’s CEO, told the local press that the project is already under development and that it will benefit more than 160 educational centers, with more than 100,000 students from all over the country.
It is known that this project is just an extension of another project already established by BCF, which is called “Lunch for children” in Uganda. Since the beginning of this year the program would have provided food to students throughout Kampala.
It does not stop. It is estimated that the project will be constantly maintained over the next few years and that the number of the students benefited will be more than one million throughout Africa in countries such as Uganda, Kenya, Ethiopia and Rwanda.
By María Rodríguez