Blockchain & Green Energy Opportunity In Morocco

Adoption of Blockchain technology is increasing among different industries and various governments. In Morocco rather than taxing local resources where energy is cheap, Soluna, a blockchain firm supported by private equity, is changing the tables. 

“Blockchain is by far the most disruptive technology of this decade.” says governor of the Central Bank of Morocco Abdellatif Jouahri.

Blockchain company Soluna plans to build a 900-megawatt wind farm to power a computing center in Dakhla in the Morocco-administered Western Sahara, its chief executive John Belizaire said in an interview. In a statement Soluna mentioned that energy systems and computing technology will be self-contained, distributed, scalable, and flexible, allowing us to achieve efficiencies only obtainable with utility-scale operations. Through this simple but effective approach, Soluna will be the infrastructure backbone of the blockchain revolution.

Morocco was one of the biggest importers of energy of the Nord Africa, reminds Le Monde in 2017. The kingdom has attracted solar and wind power investment as part of a state strategy to generate up to half of its electricity from renewable energy, reminds Reuters.

Fintech 

Jouahri outlined the two pillars of fintech as developing lower-cost models to reach undeserved people and creating conditions for more non-cash payments, particularly between the state and users. Jouahri explained that fintech can help improve financial education and bring about “financial inclusion.”

Morocco will use “fintech,” financial technology, to give more access to financial services as part of its “financial inclusion” strategy, said central bank governor Abdellatif Jouahri. Blockchain technology could improve logistics and intellectual protection traceability as said at the Africa Blockchain Summit 2019

Currently Morocco’s citizens living in Morocco can pay online up to 15,000 Dirham by year, and cannot have a bank account abroad. Since 2017, the year it has been forbidden, the use of cryptocurrencies in Morocco has risen by 50% and reached 6 millions of dollars, ranking Morocco the 36th globally, according to the Finnish platform Local Bitcoins, reveals LaVieEco.

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Sources

https://www.reuters.com/article/us-cryptocurrency-morocco-soluna-energy/blockchain-firm-soluna-to-build-900mw-wind-farm-in-morocco-ceo-idUSKBN1KU2BA

https://www.africablockchainsummit.com/

Leconomiste.com, June 2020, Misoc scrutinises Blockchain’s potential in Morocco https://www.leconomiste.com/flash-infos/le-misoc-scrute-le-potentiel-de-la-blockchain-au-maroc

Syntec-numerique.fr, May 2020, 2 blockchain solutions awarded hackathon organised by syntec-numerique https://syntec-numerique.fr/actu-informatique/act4new-2-solutions-blockchain-primees-hackathon-organise-par-syntec-numerique

LeMonde.fr, 2017 Nov, Attached to its currency Morocco tries to forbid bitcoin

https://www.soluna.io/
https://www.lemonde.fr/afrique/article/2017/11/23/accroche-au-controle-de-sa-devise-le-maroc-tente-d-interdire-le-bitcoin_5219237_3212.html

TIC-Maroc.com, 2020 January, The e-commerce endowment increased https://www.tic-maroc.com/2020/01/le-montant-de-la-dotation-e-commerce-revu-a-la-hausse.html

JeuneAfrique.com, 2020, Morocco forbids cryptocurrencies but support professional or institutional blockchains,
https://www.jeuneafrique.com/871850/economie/le-maroc-interdit-les-cryptomonnaies-mais-soutient-les-blockchains-professionnelles-ou-institutionnelles/

LaVieEco.com, July 2019, Cryptocurrency though forbidden its uses goes trivial https://www.lavieeco.com/votre-argent/cryptomonnaie-bien-quinterdite-au-maroc-son-usage-se-banalise/