The ‘Why’ behind South Africa’s Strong Blockchain Community
South Africa, also called the Rainbow Nation, is known for its natural beauty, diverse cultural heritage and strong entrepreneurial ecosystem.
If you’ve ever travelled to South Africa, you’ll have seen first hand the country’s incredible charm and immense industry potential. There’s really no other place quite like it. Ranked as 2017’s fifth most beautiful country in the world, South Africa is being hailed as one of the top destinations amongst travellers and entrepreneurs alike.
The country is not only renowned for its beautiful landscape as it is rapidly gaining overwhelming popularity as a desirable destination for tech ventures.
Cities such as Durban, Johannesburg and Cape Town are amongst the country’s top locations for those looking to start and build a career in South Africa. Cape Town, is often referred to as the ‘Silicon Cape’, which is a symbolic gesture to the legendary Silicon Valley in the United States. The city has also become known as the digital gateway into Africa, as it is often showcased as one of the core innovation hubs on the continent.
Beaches, safari parks, urban-amazing architecture and much more all contribute in providing an unparalleled lifestyle for anyone working in South Africa.The tech scene in the country is continuously expanding as a result of more startups being set up and drawn to the area.
More recently, South African entrepreneurs and companies are shifting towards a new way of doing business. They are embracing blockchain technology.
Asking the Why
South Africa has always been a country interested in emerging technology and its potential to help grow the economy. The country is continuously exploring new ways of thinking on how to best improve existing systems into more efficient processes.
An important concept described by Simon Sinek is, ‘Knowing your ‘why’. What this ultimately means is that we need to understand why we do what we do, our purpose, our aim and our vision that inspires us. In a South African context, we look at why the country is eager to embrace blockchain technology as a promising vision for the future.
Blockchain technology is gaining popularity, here in South Africa, because it equips local communities with valuable knowledge resources, empowering them to be a part of the future of change. Also worth mentioning, is South Africa’s ability in drawing in a wealth of international talent who draw their salaries from abroad. The decentralized nature of blockchain enables individuals from around the world to work from anywhere as digital nomads, just as long as there’s a stable WiFi connection.
By teaching local individuals the fundamental skills and blockchain knowledge, community members now have the chance to make a difference and the resources to further blockchain development in South Africa. This is such a beautiful part of why blockchain in South Africa matters.
The Current Blockchain Landscape
This recent article on The South African Blockchain Ecosystem gives a good overview on the current state of the local blockchain industry.
With rising levels of blockchain awareness and global recognition, the number of emerging tech startups entering the space is only expected to grow. Blockchain technology has become too powerful to ignore.
The country’s internal ecosystem has numerous factors that aid and encourage the local startup culture. South African universities promote academic innovation that often results in the talented youth participating in the business hubs that surround them. There is a vast number of business incubators, accelerators and co-working spaces that supports the thriving community. Think Startupbootcamp, Silicon Cape, MEST Incubator, Startup Grind, Rise Cape Town and many more.
With an undeniable amount of talent, a strong IT infrastructure and a supportive community, South Africa is an appealing destination for entrepreneurial talent.
Final Thoughts
South Africa’s strong tech infrastructure has solidified the country’s position as a leader within the blockchain space, more specifically, as a leader in redefining industry landscapes on the African continent.
Collaboration and innovation are at the very core of the country’s fast-growing startup scene. One thing we can be absolutely sure of, is that some of the most exciting and promising technology will come from South Africa.
