Blockchain, an innovative and decentralized technology, opens up vast opportunities for Africa, particularly in securing transactions and improving transparency. Exploring this technology is of strategic importance for the continent's development.

Guinea's Minister of Posts, Telecommunications, and the Digital Economy, Rose Pola Pricemou (photo), met on Monday with a delegation from cryptocurrency firm Tether Limited to discuss potential collaboration on driving innovation and technological development in the country, the ministry said.

Discussions focused on developing innovative technology solutions, promoting blockchain training, and implementing awareness programs through digital hubs. The initiative aims to foster an innovation-friendly environment and strengthen synergies among digital sector stakeholders.

The potential partnership comes as Guinea undergoes rapid digital transformation, including the imminent launch of the Cité des Sciences et de l’Innovation de Guinée (CSIG). Under construction since July, the CSIG aims to become a West African hub of excellence for innovation. The collaboration with Tether is intended to enhance blockchain understanding and promote the technology among entrepreneurs, startups, and local institutions.

A recent report by Fortune Business Insights estimated the global blockchain market at $17.57 billion in 2023, projecting it to reach $825.93 billion by 2032, representing a compound annual growth rate (CAGR) of 52.8%.

By Samira Njoya,

Editing by Sèna D. B. de Sodji