A Swiss cyber security firm, WISeKey, announced this week it will be opening a Blockchain and Internet of Things (IoT) centre of excellence in Rwanda.
To cut things short, it is a system to keep data secure and tamperproof.
It will not only make electronic transactions safe, it will also allow the use of Bitcoins, the magical virtual currency that is “virtually” taking over online transactions.
Already, over 100,000 merchants worldwide accept Bitcoins, the next financial big thing.
At the moment, local trading firms have given electronic trading a wide berth. The farthest they have gone is making electronic payments with credit or debit cards as well as mobile money. But now they will be able to transact peer-to-peer business safely without the need for intermediaries.
But apart from the financial aspects that the Blockchain platform will bring, it will also be in line with making this country an ICT hub. Echoing WISeKey founder: “Establishing Rwanda as a Blockchain/IoT service hub will provide benefits across many industries and encourage technological developments that can serve the continent”.
The centre will be laying the groundwork for the development of other technologies and applications such as Artificial Intelligence (AI) and robotics, but most importantly, it will keep data safe in this tech-savvy era.
That is what dreaming big is all about.