The Zanzibar government has launched a blockchain sandbox to support tech startups in the region. Known as the National Blockchain Sandbox, it provides a platform for developers to test innovative technologies related to financial inclusion, identity verification, and certification issuance.
In addition to access to the sandbox, participants may benefit from government-sponsored training and incubator programs. Director General of Zanzibar e-Government Authority, Said Seif Said, emphasized the importance of collaboration with experts and mentorship from industry leaders for innovators.
The sandbox, developed by LedgerFi IT based in Dubai, will run on the EVM-compatible Layer-1 XDC network. This initiative aims to foster technical innovation and support the growth of the blockchain ecosystem in Zanzibar.
The Bank of Tanzania recently introduced a legal framework for fintech sandboxes to facilitate the testing of new technologies. The regulations include eligibility criteria, application procedures, and a nine-month testing period for fintech startups in Tanzania.
Despite warnings against cryptocurrency trading in Tanzania, there is a growing awareness and interest in digital currencies among the population. Zanzibar has reportedly explored the possibility of adopting cryptocurrencies independently from the national government, following President Samia Suluhu Hassan’s support for the technology.
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