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ICON Expands To Africa, Signing Partnership With UABA

01 July 2019 11:22, UTC

ICON, the largest blockchain network in the world, has signed a Memorandum of Understanding with United Africa Blockchain Association (UABA) entering into a partnership of cooperation. Under this working agreement, ICON has committed itself to support the activities of UABA including the increase of awareness about the blockchain technology through education programs, DApps incubation, roadshows in Africa.

“The partnership between ICON and the UABA will build lots of synergy for each other as well as nurture the blockchain community in African. I’m honoured to be part of this exciting adventure by joining the advisory board of UABA,”

said Josh CHOI, Director of Public Affairs at ICON.

United Africa Blockchain Association under this partnership will endeavour to help ICON expand its blockchain networks and communities in Africa. Furthermore, under this partnership ICON will facilitate the formation of Decentralized Autonomous Organisation (DAO) for UABA thereby making it the first civil society in Africa in the Blockchain community to be a DAO.

A DAO is an organization represented by rules encoded (smart contracts) as a computer program that is transparent, controlled by shareholders and not influenced by a central governance structure. A DAO's financial transaction record and program rules are maintained on a blockchain.

“We are here to change the narrative as UABA by emulating the technology we promote; our partnership with ICON will set an example for non-profit organisations to emulate. We are honoured to have the support from ICON and to have Josh Choi on our advisory board,”

said UABA Chairperson Yaliwe SOKO.

UABA seeks to ensure that all African nations are represented and have equal opportunity to have both voting and staking power, and that finances received will have greater transparency in utilization.