The post ADAPT Digital Platform Hopes to Boost African Trade Using Iota Blockchain appeared on BitcoinEthereumNews.com. A collective that includes the African Continental Free Trade Area (AfCFTA) Secretariat, Iota Foundation, the Tony Blair Institute and the World Economic Forum has joined forces to develop a digital platform in Africa to digitize trade across the continent. Announced on Monday, the Africa Digital Access and Public Infrastructure for Trade (ADAPT) is an open-source digital public network that will enable cross-border payments through stablecoins and store digital trade documents and interoperable digital identities, according to the Iota Foundation. Dominik Schiener, co-founder and chairman of the Iota Foundation, said in an X post that ADAPT aims to be rolled out across all 55 African nations by 2035 and streamline trade-related operations. Among ADAPT’s other goals is to generate $70 billion in additional annual trade, cut border clearance times from up to 14 days to under three days, and reduce cross-border payment fees from the current levels of between 6% and 9%. Source: Dominik Schiener “Border & customs clearing will go from weeks to hours, cross-border payments will be reduced to less than 3% and exporters will get access to global trade finance liquidity,” Schiener said. ADAPT rollout will start in Q1 ADAPT will launch in Kenya during Q1 next year, according to the Iota Foundation, and then move to Ghana and a third country, which is still to be confirmed. The full launch is slated to start in 2027 and continue until 2035. “This will be a long and challenging road, but thanks to the commitment of the AfCFTA and the dedication of our partners I am convinced that we will realize this mission to connect Africa through the most modern digital trade infrastructure in the world,” Schiener said. Structural inefficiencies a major problem in African trade Chido Munyati, head of Africa at the World Economic Forum, said that trade… The post ADAPT Digital Platform Hopes to Boost African Trade Using Iota Blockchain appeared on BitcoinEthereumNews.com. A collective that includes the African Continental Free Trade Area (AfCFTA) Secretariat, Iota Foundation, the Tony Blair Institute and the World Economic Forum has joined forces to develop a digital platform in Africa to digitize trade across the continent. Announced on Monday, the Africa Digital Access and Public Infrastructure for Trade (ADAPT) is an open-source digital public network that will enable cross-border payments through stablecoins and store digital trade documents and interoperable digital identities, according to the Iota Foundation. Dominik Schiener, co-founder and chairman of the Iota Foundation, said in an X post that ADAPT aims to be rolled out across all 55 African nations by 2035 and streamline trade-related operations. Among ADAPT’s other goals is to generate $70 billion in additional annual trade, cut border clearance times from up to 14 days to under three days, and reduce cross-border payment fees from the current levels of between 6% and 9%. Source: Dominik Schiener “Border & customs clearing will go from weeks to hours, cross-border payments will be reduced to less than 3% and exporters will get access to global trade finance liquidity,” Schiener said. ADAPT rollout will start in Q1 ADAPT will launch in Kenya during Q1 next year, according to the Iota Foundation, and then move to Ghana and a third country, which is still to be confirmed. The full launch is slated to start in 2027 and continue until 2035. “This will be a long and challenging road, but thanks to the commitment of the AfCFTA and the dedication of our partners I am convinced that we will realize this mission to connect Africa through the most modern digital trade infrastructure in the world,” Schiener said. Structural inefficiencies a major problem in African trade Chido Munyati, head of Africa at the World Economic Forum, said that trade…