IOTA, a blockchain pioneer, has been driving innovative solutions globally, with Africa emerging as one of the key regions benefiting from its groundbreaking technology. This October, IOTA is set to showcase its impact in the region as a sponsor of the African Customs & Trade Conference (ACT), taking place in Nairobi, Kenya, from October 7th to 9th. The event, themed “Borderless Trade: Effective Trade Facilitation in the Digital Age,” will bring together industry leaders to discuss Africa’s evolving role in global trade.
IOTA Joins Global Leaders At ACT
The African Customs & Trade Conference (ACT), organized by Kenya’s tax agency, the Kenya Revenue Authority (KRA), will feature prominent figures from Africa’s trade and technology sectors. Attendees will include heads of revenue collection agencies from all 54 African nations, policymakers, trade experts, and leading tech providers. This diverse gathering aims to explore the future of trade on the continent, with a specific focus on the adoption of digital solutions.
As one of the event’s key sponsors, IOTA is joining forces with organizations like the Tony Blair Institute for Global Change, Germany’s development agency GIZ, and the Africa Export-Import Bank to advance the conversation on digital trade facilitation. IOTA will be represented by its Trade and Logistics Information Pipeline (TLIP), which will play a vital role in discussions surrounding innovative solutions for enhancing trade across Africa.
IOTA and TLIP – Driving Digital Trade in Africa
TLIP, a flagship project within the IOTA ecosystem, has been instrumental in promoting secure, scalable, and feeless cross-border trade across Africa. Utilizing IOTA’s advanced blockchain infrastructure, TLIP allows participants in the supply chain to share and access digital trade documents in real time. This includes vital data from local databases, such as Kenya’s tax agency, and global sources, ensuring transparency and efficiency.
By streamlining access to export declarations, certificates of origin, airway bills, and more, TLIP addresses one of the biggest challenges in international trade—tedious manual processes. In a sector that’s expected to handle over $32 trillion in global trade in 2024, the inefficiencies of traditional paperwork have long been a hindrance to growth. Many participants lack trust in each other and have no means of verifying documents independently, making blockchain technology an ideal solution.
Also Read: IOTA Launches Layer 2 EVM Network – Paving The Way For $2 Trillion In Asset Tokenization!
Africa – A Growing Hub for Digital Trade Innovation
With the rise of globalization, trade is becoming increasingly interconnected. Africa, as the world’s fastest-growing continent, is uniquely positioned to capitalize on this trend. However, to unlock its full potential, the region must embrace digital solutions that can facilitate seamless cross-border transactions. This is where IOTA’s technology comes into play.
Through TLIP, IOTA is revolutionizing Africa’s trade landscape by eliminating inefficiencies and fostering trust among stakeholders. Its feeless network ensures that businesses, large and small, can access cutting-edge solutions
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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