UAE blockchain project eyes Africa growth through M-Pesa deal [Yahoo! Finance]
Vodafone Group Plc - American Depositary Shares each representing ten Ordinary Shares (VOD)
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Source: Yahoo! Finance
It marks the latest step in efforts by the Emirate to establish Abu Dhabi as a global financial hub and bolster ties between the Gulf and Africa . The ADI Foundation, which is backed by the digital arm of a $240 billion conglomerate chaired by the UAE president's brother, aims to bring 1 billion people onto its blockchain, ADI Chain, by 2030 by providing access to its blockchain infrastructure in emerging markets. The mobile money service M-Pesa — which allows customers to send and receive money, and pay for goods — has more than 60 million monthly users across eight African countries. Huy Nguyen Trieu, council member on the ADI Foundation's board of advisers, told Semafor a “large proportion” of the users targeted would be in Africa, and a memorandum of understanding agreed with M-Pesa this month was part of a drive to scale up access to the ADI Chain. “M-Pesa has been amazing in terms of financial inclusion,” he said during an interview in Abu Dhabi this month. “Our view is tha
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