Uganda has positioned itself to be at the forefront of blockchain innovation, thanks to the concerted efforts of the Blockchain Association of Uganda (BAU). Founded in 2017, the association brings together blockchain advocates all united by a shared vision to advance blockchain technology in the country. Through advocacy, collaboration, and educational outreach, the association has been instrumental in shaping Uganda’s blockchain ecosystem, enhancing public understanding, and mitigating risks like cryptocurrency scams.
The Blockchain Association of Uganda was born out of necessity. In 2017, a group of forward-thinking technology and finance professionals in the private sector recognized the rapid growth of blockchain globally but noticed that local awareness and understanding of the technology were severely lacking in Uganda. Therefore, they came together to create a collective voice for Uganda’s blockchain sector, aiming to guide its development, advocate for necessary regulations, and foster public understanding.
“Players primarily in technology and finance came together to guide the blockchain industry in Uganda,” Kwame Rugunda, the Founding Chairman of the Blockchain Association of Uganda, said in a video call during the Kampala Blockchain Summit. “We saw it happening elsewhere in the world —but in Uganda, we didn’t have a framework to guide its development and so the players in the private sector decided to come together and created the Blockchain Association of Uganda.”
One of the association’s primary missions has been to address Uganda’s knowledge gap concerning blockchain. It is because of the knowledge gap scams entered the market and it was very difficult for many Ugandans to distinguish blockchain’s distinctions from cryptocurrency and scams.
The blockchain scams were problematic.
“The rise of fraudulent schemes around 2018-2019 saw many Ugandans fall victim to these blockchain scams due to a lack of knowledge, blurring the line between legitimate blockchain applications and deceptive practices,” said Rugunda.
To counter this, Rugunda said the association initiated several campaigns to clarify blockchain’s functionalities and potential. “We spent most of the time educating and informing both the public and entities mandated by law (i.e. Bank of Uganda, the Capital Markets Authority, the Financial Intelligence Authority, and the Police) with decision making,” he said.
By engaging these critical stakeholders, the association worked to create a well-informed regulatory environment that encourages safe blockchain adoption.
Rugunda noted that the association has made significant strides which include fostering collaboration within the blockchain industry. “Collaboration is the association’s major milestone,” he said. “We identified ecosystem players in Uganda and the East African region.”
Within Uganda, the BAU has collaborated with various professional bodies such as Startup Uganda, the Information Communication Technology Association of Uganda (ICTAU), and the Institute of Certified Public Accountants of Uganda (ICPAU), to mention but a few. This cross-sector collaboration has facilitated knowledge sharing, allowing professionals from different industries to understand blockchain’s value within their fields.
Regionally, the BAU has partnered with blockchain associations in Kenya, Rwanda, Tanzania, and even West Africa (in Nigeria). These collaborations harmonized blockchain development efforts across borders, enabling the East African region to grow as a unified blockchain-friendly community.
Under the leadership of a dynamic new team led by Reginald Tumusiime; the chairman of the association, assisted by Edline Murung, the Blockchain Association of Uganda has been restructured to reflect a modern, versatile approach to digital transformation. With members specializing in finance, law, technology, and other fields, the team brings diverse expertise to the association, fostering a comprehensive ecosystem that nurtures innovation and best practices.
“This team of young dynamic minds is now the helm of the association,” said Rugunda.
To further cement the association’s role as a guiding force, BAU has sought the assistance of consulting firms to refine its operational and governance structures. This restructuring has empowered the association to engage effectively with regulatory bodies and navigate emerging blockchain adoption challenges.
In future directions, BAU will be set on expanding its influence and impact by enhancing regulatory frameworks, promoting safe blockchain practices, and fostering deeper collaborations across the private and public sectors. By addressing the remaining knowledge gaps and regulatory needs, the Blockchain Association of Uganda is poised to position the country as a leader in blockchain adoption within Africa.
The Blockchain Association of Uganda continues to drive the country’s blockchain narrative, fostering a safe and informed environment for digital innovation. With its dedicated team, extensive collaborations, and commitment to bridging knowledge gaps, the BAU has become a beacon of progress for blockchain development in Uganda. As the association progresses, Uganda stands well-positioned to reap the economic and social benefits of blockchain, securing a prosperous digital future for its people.
See also: Blockchain Association of Uganda launches the 2nd edition of the blockchain innovation program
