Distinguished representatives from the Pan-African Council and blockchain hackers from Benin, Somalia, Nigeria, South Africa and even as far as Brazil and Haiti have started arriving in Kigali to attend EcoHack Africa 2018, the official green economy blockchain hackathon of Youth Connekt Africa 2018.
They will be joined by other blockchain experts from all over the world.
Their objective is to build and support an open-sourced blockchain based platform for Africa – the Sahara Marketplace.
The Sahara Marketplace will be a one stop center for individual farmers, entrepreneurs, cooperatives and institutions to raise funds for agriculture or ecosystem services through carbon credits, crowdfunding and grants from individuals, businesses, multinationals and nonprofit organizations.
According to Fabien Anthony, one of the organizers and a co-founders of AfricaGen, Africa should begin exploring alternative sources of development finance, such as carbon credits, crowdfunding and other community tools.
Africa should also aim to invest in emerging technologies that allow innovative and sustainable solutions that are home-grown, precisely what this Hackathon aims to do: expose as many Young Africans as possible to the potential of blockchain technology. Youthconnekt, with 5000 participants, is the ideal platform to develop these solutions.
Africa gets about 3% of the $35 Billion USD carbon credit market, while India and China get about 70% of the total. Increasing Africa’s share of carbon credits from 3% to 10% would bring in $2.5 Billion in much needed financing for the continent’s most vulnerable population.
The hackathon is co-organized by AfricaGen, the Rwandan Ministry of Youth, KLAB and Rwanda ICT chamber, with technical collaboration with the Rwandan Ministry of Environment.
EcoHack Africa 2018 is supported by Global Blockchain Business Council (GBBC), the leading association for the blockchain ecosystem.
‘The Global Blockchain Business Council’ (GBBC) idea was conceived on Sir Richard Branson’s Necker Island Blockchain Summit 2016, launched at Davos 2017, and represented in over 40 countries, growing rapidly.’
Sandra Ro, CEO of GBBC, said: “EcoHack Africa 2018 and its Sahara Marketplace are excellent initiatives, helping educate the African youth on the latest technological advancements in blockchain and its practical implementation.
As the influence of Blockchain spreads, we’re delighted to see more initiatives established across the globe that are designed to educate and empower people.”
The hackathon will use “NYANDUNGU URBAN WETLAND ECO-TOURISM PARK” a project as the main case study to build the platform. The Nyandungu Park is a project to restore a degraded wetland in Rwanda capital Kigali and transform it into an eco-tourism park.
The park is funded by Rwanda Green Fund (FONERWA), and developed by Rwanda Environment Management Agency (REMA).