Crypto-backed solar programme launches in Uganda

Blockchain-based mobile money platform Wala’s open source multi-chain crypto asset will be used as the principal transactional currency for the Clean Path Emerging Markets solar programme in Uganda.

Wala’s zero-fee crypto wallet seeks to provide Africans with a financial system that suits them and doesn’t cost them to participate. Unlike the existing formal financial system, the company does not see banking the unbanked as a solution to the financial inclusion problem in Africa because of the fees associated with it. In fact, they believe giving a bank account to a consumer in these countries will create more harm than good.

Full article: IT Web Africa



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