Africa Embraces Digital Trade with New Platform Utilizing Blockchain

Africa is taking a significant step toward digitizing trade and simplifying cross-border payments by launching ADAPT, a blockchain-powered platform designed for seamless digital commerce. Targeting $70 billion in new trade activity annually, the initiative aims to revolutionize African commerce by reducing clearance times from up to 14 days to less than three, while lowering fees. This collaborative effort involves global and African institutions including the African Continental Free Trade Area (AfCFTA) Secretariat, Iota Foundation, Tony Blair Institute, and the World Economic Forum.