Johannesburg, South Africa: ICON, the largest blockchain network in the world, has signed a Memorandum of Understanding with United Africa Blockchain Association entering into a partnership of cooperation.
Under this working agreement, ICON has committed itself to support the activities of the United Africa Blockchain Association including the increase of awareness about the blockchain technology through education programs, DApps incubation, roadshows in Africa.
United Africa Blockchain Association under this partnership will endeavor to help ICON expand its blockchain networks and communities in Africa. Especially the promotion of the ICONSENSUS campaign of the ICON Foundation thereby facilitating potential P-Rep candidates.
Furthermore, under this partnership ICON will facilitate the formation of Decentralized Autonomous Organisation (DAO) for UABA thereby making it the first civil society in Africa in the Blockchain community to be a DAO.
A DAO is an organization represented by rules encoded (smart contracts) as a computer program that is transparent, controlled by shareholders and not influenced by a central governance structure. A DAO’s financial transaction record and program rules are maintained on a blockchain.
UABA seeks to ensure that all African nations are represented and have equal opportunity to have both voting and staking power. And that finances received will have greater transparency in utilization.
“Africa is in its current state because of its leaders. We are here to change the narrative as UABA by emulating the technology we promote,” said UABA Chairperson Yaliwe Soko.
UABA aims to promote the comprehensive adoption of blockchain technology across the public and private sectors in Africa and also partner with other blockchain organizations and associations in delivering blockchain projects across the African continent.
The mission of the UABA is To unify the African blockchain ecosystem toward 8 common goals of harmonious coexistence and progress which are education, financial inclusion, sovereign identity, skills development, job creation, gender equality, fair and efficient trade, poverty alleviation.
ICON is one of the largest blockchain networks in the world. ICON boasts independent blockchains comprised of reputable institutions in major industries. ICON aims to build a decentralized network that allows independent blockchains with different governances to transact with one another without intermediaries. ICON already boasts communities comprised of reputable institutions such as banks, securities, insurance, hospitals, universities, and more. Founded in 2017, ICON’s headquarters are located in Zug, Switzerland.