- IOTA is among the sponsors of the African Customs & Trade Conference that takes place in Nairobi on October 7th.
- The Trade and Logistics Information Pipeline (TLIP) will represent the IOTA ecosystem and display its market-leading solutions built on the IOTA network.
IOTA has been facilitating innovative solutions across the globe for years, with Africa among the regions where it’s changing the most lives. Come October 7th, IOTA will be showcasing its innovations and impact across the region as one of the sponsors of the African Customs & Trade Conference (ACT).
ACT will be held in Kenya’s capital, Nairobi, between the 7th and 9th of October and will focus on effective trade facilitation in the world’s fastest-growing continent under the theme “Borderless trade: Effective trade facilitation in the digital age.” Organized by Kenya’s tax agency, KRA, it will bring together industry thought leaders, including the heads of the revenue collection agencies across all 54 African nations. Others will include policymakers, academia, research organizations, trade experts, and tech providers.
IOTA has joined the event as a sponsor, alongside the likes of the Tony Blair Institute for Global Change, Germany’s main development agency, GIZ, and the Africa Export-Import Bank.
馃實 Thrilled that #IOTA is a sponsor of the African Customs & Trade Conference, this Oct 7th! 馃憖 Interested in #borderless trade and the future of Africa鈥檚 #DigitalEconomy? Then join us & @TLIP_io by registering here: https://t.co/6o61RyfEx8@KRACorporate #ACTConference pic.twitter.com/kguAtHhRag
— IOTA (@iota) September 26, 2024
The IOTA ecosystem will be represented by the Trade and Logistics Information Pipeline (TLIP). It noted:
Join 54 Heads of Revenue Authorities, policymakers, & innovators at the ACT Conference, shaping the future of trade in Africa. We’re excited that TLIP built on IOTA, will present its digital solutions for streamlining customs & cross-border trade.
In a separate post, TLIP stated: “Expect discussions on innovative solutions to enhance trade across Africa, exploration of next-gen tech, and networking with key players in the sector.”
IOTA in Africa
TLIP has championed IOTA in the African region. Through its digital infrastructure, it enables secure and efficient cross-border collaboration between multiple parties, all done on the scalable, efficient, and feeless IOTA network.
TLIP enables participants across the entire supply chain to share and access digital trade documents in real-time, sourcing data and information from local databases, like Kenya’s tax agency database, as well as regional and global data ledgers. These documents range from export declarations, certificates of export, airway bills and more.
Globally, over $32 trillion is expected to be traded this year, with globalization leading to a more interconnected supply and distribution ecosystem that encourages specialization. However, despite its size, this sector is burdened by tedious and unreliable manual processes and paperwork. Digital processes have failed as most participants don’t trust each other and have no way of verifying and authenticating information independently.
This makes blockchain technology a perfect solution, and what better network to build this new global trade avenue than the feeless and scalable IOTA?
As we have reported in the past, IOTA has been facilitating global interconnected and sustainable trade via TLIP. The two have expanded to new frontiers, such as maritime activities, where cumbersome processes cost participants billions of dollars every year.
IOTA trades at $0.1416, gaining marginally over the past day as trading volume rose 6%.
