The Chief executive officer of LBank shared his opinion on the opportunities that Africa may secure from the crypto & blockchain industry.

Africa is the highest populated continent in the world. The whole world knows very well that Africa is the only continent which is facing the highest poverty situation. Crypto & blockchain industry looking to introduce their crypto financial services in Africa because financial services in Africa are standing at the lowest level. Traditional financial services & Banking infrastructure in Africa faces insufficient capital growth, poor governance, and unfair competition compared to other international financial agencies. 

On 18 July, Allen Wei, CEO of crypto exchange LBank, appeared in an interview with Cointelegraph. Throughout the whole interview, he shared his opinion on the role of cryptocurrencies which can bring revolution to Africa. 

Allen said that crypto-supported products and services may achieve better success and people will come to know about its significance, if implemented in Africa. 

LBank CEO believes that crypto & blockchain innovations can solve the economic problem of Africa. He noted that Blockchain technology can create an inclusive society on the continent.

Allen explained:

“With the help of blockchain, Africa can create an inclusive society with a robust economy and the highest standards of living. A larger economic system might be built where more people will be employed and have access to greater wealth than ever before.”

Allen also believes that innovations in Africa may further show a better impact on the crypto industry because a big population will support cryptocurrencies and it will further put pressure on other continents to adopt this innovative industry.

“With such a large number of people using cryptocurrency, it will become easier for others around the world to accept it too,” LBank CEO said.

Furthermore, Allen thinks that the adoption of cryptocurrencies in Africa will increase the reach of the crypto industry. He also believes that if we can help the population of Africa to become more crypto-friendly then it will help the crypto industry to acquire more audiences than ever before.

Read also: Coinbase secures a license from the Italian Anti-Money Laundering watchdog



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