Government to venture into cryptocurrencies
The management of Binance, one of the leading blockchain exchange markets, met with top government officials to discuss the opportunities available in blockchain and cryptocurrency technology space. In the meeting, they discussed about the risks, opportunities and how blockchain can benefit the predominant youth in a third world country like Uganda.
This is after the governor Bank of Uganda despised blockchain during the times of the bitcoin boom. With this meeting, the country has moved one-step forward towards venturing into the booming blockchain technology.
With the increasing likelihood of the country joining the crypto-economies, there will be much more cyber threat. The economy will attract hackers from across the world.
Uganda has followed other countries in the region like Kenya which launched a 15-member task force to do conduct research on blockchain technology and how it will benefit the country.