Blockchain expansion in Africa propelled by COTI's Tokenization Council
The Africa Tokenization Council (ATC), a new initiative spearheaded by COTI and key stakeholders, aims to accelerate blockchain and AI adoption in Africa and the Middle East (MENA) region. The council's mission is to standardize tokenization practices, promote clearer regulations, enhance privacy and compliance measures, and catalyze investment opportunities through blockchain and AI adoption focused on integrating real-world assets into the digital economy [1][4].
The combined economic strength of the MENA region and Africa surpasses $5 trillion, providing a substantial market with untapped potential. A considerable portion of the population in these regions remains unbanked, highlighting the need for digital asset solutions to expand financial accessibility [4].
COTI, as a privacy-focused blockchain infrastructure provider, contributes to the ATC’s goals by bringing its "Privacy-on-Demand" technology. This technology allows institutions to adopt blockchain without compromising sensitive data, supporting the integration of real-world assets on public blockchains and institutional-grade readiness [1].
The ATC's leadership includes Dr. Almalik, an expert in energy, financial technology, and artificial intelligence, who is expected to support the council's mission [2]. Dr. Mansour Almalik, a senior advisor from Saudi Arabia's Ministry of Petroleum and Mineral Resources, and Alaa Bishara, a seasoned investor with experience in real estate and blockchain-driven investment strategies, are also key figures in the council [3].
The ATC plans to organize symposiums where government representatives and private sector leaders can discuss regulatory structures and the practical implementation of blockchain-based financial solutions. These events will help establish a framework to unlock investment opportunities, promote technological innovation, and facilitate the digital economy’s expansion by converting physical and financial assets into digital tokens usable within blockchain and AI-powered environments [1][3][4].
The growing demand for scalable and secure tokenization solutions is rising due to the increasing incorporation of blockchain technology into financial frameworks by industry leaders. The financial sector is witnessing a shift toward digitized assets, with significant players like BlackRock preparing to drive a $10 trillion tokenization wave [1][4].
The Africa Tokenization Council has been launched by COTI to advance blockchain and AI adoption in Africa and the MENA region. Through collaboration with regional and global partners, including efforts like CBDC proof-of-concepts and cooperation with platforms such as Hedera, the council is establishing a framework to unlock investment opportunities, promote technological innovation, and facilitate the digital economy’s expansion [1][3][4].
In summary, ATC’s impact lies in bridging traditional and digital financial systems, standardizing tokenization practices in Africa and the Middle East, enhancing privacy and compliance measures, and catalyzing investment opportunities through blockchain and AI adoption focused on integrating real-world assets into the digital economy [1][4].
[1] ATC Press Release, (2022). Africa Tokenization Council Launches to Advance Blockchain and AI Adoption in Africa and the Middle East. [2] ATC Press Release, (2022). Dr. Almalik Joins Africa Tokenization Council as Senior Advisor. [3] ATC Press Release, (2022). Alaa Bishara Joins Africa Tokenization Council as Strategic Advisor. [4] ATC Whitepaper, (2022). Bridging the Gap Between Traditional and Digital Financial Systems in Africa and the Middle East.
- The Africa Tokenization Council (ATC) aims to catalyze investment opportunities in the African and MENA region, as the demand for scalable and secure tokenization solutions rises with the shift towards digitized assets in the finance industry, inspired by industry leaders like BlackRock, who are preparing a $10 trillion tokenization wave.
- As part of the ATC's mission, they plan to work closely with regional and global partners, employing technologies like privacy-focused blockchain infrastructure and AI, to standardize tokenization practices, enhance privacy and compliance measures, and foster the integration of real-world assets into the digital economy, ultimately aligning with broader market trends in the finance and technology sectors.
