Africa’s struggle with corruption and fraudulent activities has hindered the socio-economic development of the continent and even limited opportunities for Africans to migrate to more developed nations. In most social media platforms, users from developed countries are usually scared of interacting with Africans. They believe that most Africans are on the Internet to engage in fraudulent activities. This scar on Africa may not be removed from history easily, because it is not just an allegation, but a glaring fact.

A query on Google with the keyword, ” top scamming countries in the world” will bring several search results with African countries leading the list. An obvious reason for this high rate of fraud in Africa can be attributed to the poor economic condition of most African countries.

However, the rise of technology, particularly Blockchain, has offered a glimmer of hope. With Blockchain jobs, SocialFi, and other earning opportunities offered by Blockchain, there is hope that Africans can leverage these to improve their lives, legitimately.

In this discussion, we’ll explore the potential of tech skills, particularly those related to Blockchain, in reducing fraud in Africa.

Understanding the Roots of Fraud

Before going into the role of tech skills in curbing fraud in Africa, it’s essential to acknowledge that the primary cause of fraudulent activities in Africa often stems from bad governance and the economic hardships it imposes on the youth. Many turn to fraud as a means of survival due to limited job opportunities and financial struggles. This doesn’t justify the act because there are still legitimate means to make money. The second cause is that most Africans want to get rich quickly, thus they turn to fraud because that’s the most feasible and fastest way to being wealthy within a short interval.

Blockchain’s Potential to Transform

Blockchain technology has emerged as a game-changer, offering opportunities for Africans to leverage their tech skills and earn foreign currencies, which are often more valuable than their native currencies. Right from the comfort of their homes, they can work for companies that are not even located in their continent. They are also able to work for more than two companies simultaneously because they work remotely, thereby maximizing their earnings. It has also created avenues for skilled individuals to explore opportunities in developed countries through jobs.

It’s noteworthy that Africa has shown significant enthusiasm and progress in adopting Blockchain technology. This enthusiasm reflects the determination of Africans to seize opportunities for personal and regional development. The continent has witnessed the birth of numerous Blockchain-based projects, which begs the question; Can blockchain play a role in reducing fraud in Africa?

The Ambiguity of the Solution:

The relationship between Blockchain and fraud reduction in Africa is not straightforward. While Blockchain has the potential to reduce fraud, it also presents challenges that need to be addressed first.

1. Curbing the Urge for “Quick” Money

One significant factor contributing to fraud in Africa is the desire for quick wealth. Blockchain, as a legitimate avenue for wealth creation, can mitigate this urge, but it requires patience and hard work. Many African youth are enticed by easy money, often through scams. To reduce fraud effectively, individuals must understand that building wealth, even through Blockchain, takes time and dedication.

2. The Cost of Entry:

Blockchain, particularly in the form of cryptocurrencies, demands financial commitment. To reap substantial rewards, one must invest time and money in learning and participating in the Blockchain ecosystem. This financial barrier can deter some individuals from embracing Blockchain as a means to counter fraud. Participating in Airdrop might be the only way to enter the Blockchain ecosystem without investing money, but making it through Airdrops is not quite easy. There are tons of Airdrops out there and most of them are a waste of time, and can even get one’s wallet compromised.

3. Skill Acquisition and Employment:

Acquiring Blockchain skills is a commendable pursuit, but it comes with its challenges. Learning these skills can take several months, and job opportunities are not always readily available. Some well-trained Blockchain enthusiasts struggle to secure well-paying jobs, leading them to consider alternative, less ethical paths, Frauds.

The Positive Impact of Blockchain

Despite these challenges, it’s crucial to highlight the positive impact Blockchain is already having in Africa:

1. Alternative Income Sources:

Blockchain has empowered Africans, including students and the working class, to create additional income streams. This newfound financial stability reduces the temptation to engage in fraudulent activities. People get to earn by writing social media posts, working as ambassadors and Community moderators for Cryptocurrency projects, using DEFI products, crypto jobs, etc.

2. Long-Term Success Stories

There are inspiring examples of Africans who have achieved financial success through Blockchain. These individuals serve as role models, demonstrating that patience and commitment can yield substantial rewards. The urge for fraud is curbed by these stories because they give enthusiasts hope that they will make it too.

3. Nurturing Talent:

Africans who have been in the Blockchain space long enough have contributed hugely towards educating and presenting opportunities to Africans who are not yet part of the Blockchain space. This has helped take many youths off the street and empowered students with Skills and information that are improving their financial status.

Conclusion

While tech skills, particularly Blockchain, have the potential to reduce fraud in Africa, the journey is not without challenges. To harness the full potential of these skills, Africans must prioritize hard work, patience, and ethical wealth-building over the allure of quick money. Education, job creation, and skill development initiatives can further enhance the positive impact of tech skills in curbing fraud and fostering economic growth across the continent. The future of Africa’s fight against fraud lies in its ability to embrace technology, saying no to the quick wealth mentality as a force for positive change.