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Blockchain investments will grow in the Middle East

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Blockchain technology is changing everything, not only in more developed countries, but especially in third world countries. Where block chains are becoming a way to try to reach development. Thanks to the important functions they offer. Which would explain that a 400% increase in blockchain investment in the Middle East and Africa is expected in the next four years.

Blockchain: an opportunity for the third world

Sometimes, the authors of the developed world, and even those of the first world, consider that third world countries are condemned to poverty. Corrupted by corruption, and unable to bring order and prosperity to their populations. Governments in regions like Africa seem unable to generate progress on the continent.

However, those who think that way forget that basically all developed countries were once very poor countries. With practices similar to that of third world countries. And that, nevertheless, they managed to face their internal problems and progress with the passage of time.

This is the opportunity that Blockchain technology would be offering to the countries of the Middle East and Africa. Well, blockchains would represent a disruptive technology. With the potential to make companies and organizations in the Middle East much more efficient and secure.

This would lead to the creation of greater wealth within these nations. What, combined with the use of other technological tools, whose origin is in the Fourth Industrial Revolution. It can lead to third world countries achieving a new state of stability and prosperity within their territories.

The Blockchain in the Middle East

This is exactly the opportunity that the Middle East and Africa have seen. Two quite poor regions of the world, and yet they seem to have seen the way in which Blockchain technology can help them improve their economy and administration. What can be clearly observed when studying forecasts on investments in Blockchain, which will be developed in the Middle East and Africa over the next four years.

Thus, according to the report made by the International Data Corporation. Investments in the Middle East and Africa region that are dedicated to the development of Blockchain capabilities will increase 400% over the next four years. Going from the 21 million dollars invested in the year 2019, until reaching the figure of 105 million projected for 2023. Which will allow the financing of increasingly complex projects based on block chains.

According to this same report, the investment in development of this technology would come essentially from governments. Which see the important opportunity represented by this new technology to improve the efficiency of its operation. As well as obtaining greater security in the handling of information.

Finally, it is important to highlight that although the Middle East and Africa region is going through a process of digital transformation, for the update of its administrative procedures. And within which would enter the investment in Blockchain. It continues to be only a small fraction within the large amount dedicated by governments to this task.

Which does not mean that this projection means low numbers for the Blockchain. Well, the growing interest in blockchain from governments is a boost for society to also start investing and experimenting with the Blockchain.

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International Studies student, interested in economics and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and cryptocurrencies in particular.



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