Investments Blockchain will grow in the Middle East

The technology Blockchain is changing everything, not only in the more developed countries, but in particular in the countries of the third world. Where strings of blocks, are becoming a way to try to achieve the development. Thanks to the significant functions they offer. That would explain that you expect an increase of 400% in the investment in Blockchain in the Middle East and Africa in the next four years.

Blockchain: an opportunity for the third world

At times, the authors of the developed world, and even the first world, believe that the countries of the third world are condemned to poverty. Eating away at the corruption, and without the capacity to give order and prosperity to their populations. Governments in regions such as Africa seems unable to generate progress in the continent. However, those who think that way are forgetting that basically all developed countries were once very poor countries. With practices similar to those of the countries of the third world. And that, however, were able to face their internal problems and progress with the passage of time. This is the opportunity that the technology Blockchain would be offering to the countries of the Middle East and Africa. Therefore, the chains of blocks, represent a technology that is disruptive. With the potential to make a lot more efficient and safe to businesses and organizations in the Middle East. This would lead to the creation of greater wealth within these nations. That, combined with the use of other technological tools, whose origin is located in the Fourth Industrial Revolution. Can lead to that countries of the third world achieve a new state of stability and prosperity within their territories.

The Blockchain in the Middle East

This is exactly the opportunity that has seen the Middle East and Africa. Two regions quite poor in the world, and yet it seems that they have seen the way in which the technology Blockchain can help them to improve their economy and administration. What can be seen clearly when we examine the forecasts on the investments in Blockchain, that will be developed in the Middle East and Africa during the next four years. Thus, according to the report conducted by the International Data Corporation. The investments in the region of the Middle East and Africa that are dedicated to the development of capabilities Blockchain will increase by 400% over the next four years. Passing of the $ 21 million invested in the year 2019, until arriving at the figure of 105 million projected for 2023. Which will allow for the funding of projects is increasingly based on complex chains of blocks. According to this same report, the investment in developing this technology, would come essentially from the 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 the information. Finally, it is important to highlight that although the region of the Middle East and Africa is going through a process of digital transformation, in order to update their administrative procedures. And within which would fall the investment in Blockchain. The same continues to be only a tiny fraction within the a large amount devoted by governments to this task. That does not mean that this projection will mean low numbers for the Blockchain. Because of the growing interest in the strings of blocks on the part of governments, is a boost to the society also starts to invest and experiment with the Blockchain. The following two tabs change content below. Student of International Studies, interested in issues of economy and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and the cryptocurrencies in particular.

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