Blockchain : the expertise of SIL in Africa and India

The State Informatics Ltd (SIL) of Mauritius and Locus Chain Foundation (LCF) based in Singapore have signed this week a strategic agreement to introduce blockchain technology to the public and private sector IT systems of Mauritius and several African countries and India. SIL has successfully delivered over 250 projects in 15 countries in the Indian and African regions, including in Senegal, Zambia, Zimbabwe, Ghana, Kenya, and Botswana, and has provided a variety of ICT solutions for public and private sectors.

Lee Sang Yoon, CEO of the Locus Chain Foundation, said: “Although countries in Africa have favourable natural conditions, large land area and abundant natural resources, the value of the continent’s real currency is not very competitive in the global market. There are many countries in the Continent where national production, distribution and management systems are relatively inadequate. There is a disadvantage that maintenance costs are relatively large because they rely heavily on centralised management systems introduced in western countries. Hence, the blockchain platform ‘locus chain’ is introduced as an infrastructure system and settlement currency in African countries. This will make a significant change in the way of transactions and will be possible to contribute to economic development by enhancing national economy as it can be settled and maintained at relatively low cost. These results will help resolve global inequalities”.