The Ministry of ICT and Innovation, Rwanda, has set a budget for the 2020 fiscal year that will see it support emerging technologies among them being blockchain.
Speaking at a monthly meeting with the Rwanda Blockchain Community, Paula Musoni, Minister, ICT and Innovation, Rwanda, said:
“Blockchain, just like the whole list of fourth industrial revolution technologies is one of the areas that we are very supportive as a government and how we build that industry and grow it over time.”
ALSO READ: The Central Bank of Rwanda is Studying How to Issue a Digital Currency
Rwanda has been keen on accelerating the development of new technologies like AI, robotics, and blockchain, and has is looking at doing even more in the next fiscal year.
Minister @MusoniPaula of @RwandaICT in at #Rwanda #blockchain meetup:
Rwanda welcome innovations and the ministry of ICT is ready to support the blockchain society.. and I thanks the pioneers plus the Africa Blockchain institute to decide to put their Headqouters in Rwanda.. pic.twitter.com/FUm4w0aac7
— Bit2Big (@Bit2Big) December 11, 2019
Speaking to BitcoinKE, Norbert Haguma, Chairman, Blockchain Association of Rwanda, said:
“Rwanda Blockchain Association is working together with the Government, private sector and academia towards a Blockchain industry in Rwanda. Recent developments, such as the establishment of Africa Blockchain Institute headquarters, the piloting of ZAKA decentralized identity at Carnegie Melon University Africa, prove that Rwanda is an attractive destination for Blockchain projects. The government is supportive, through regulatory Sandboxes at Central Bank and RURA, and is dedicated to developing a Blockchain Industry in line with Rwanda’s aspirations of becoming a continental hub for innovations.
The Rwanda Blockchain Association aims to enable the development of scalable Blockchain based solutions that will improve the lives of Rwandans, add value to Rwanda’s products and make the economy more efficient.”
The National Bank of Rwanda and Rwanda Utility and Regulatory Authority (RURA) has even established a sandbox facility to test blockchain technology.
The country has already expressed interest in adopting blockchain for use in developing healthcare systems, land registrations, mobile banking applications, value transfer and tourism. In 2018, the country announced the world’s first blockchain project to track tantalum from the pit to refineries in an effort to boost investor confidence of conflict-free sources of minerals.
Rwanda has also expressed interest in how to issue a blockchain-based CBDC and continues to explore the possibilities and opportunities toward that line.
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