A new blockchain development hub is in the making off the coast of Africa as Mauritius looks to welcome blockchain technology developers and innovators for its own benefit.
A major Ethereum startup, Consensys, is taking aim at the little tropical island Mauritius off the east coast of Africa as a target for its latest partnership. The Ethereum developers are hoping to form a technology hub within the state’s framework in order to both benefit from lighter regulations and to help grow the country’s economy.
For Consensys, this hub would aid them in breaking deeper into the Asian and African blockchain markets, as well as other parts of the world, but it would also be a big technology and economic boost for the country.
Founder of Consensys, Joseph Lubin, visited Mauritius earlier this month, meeting with key players in making this a reality, such as the county’s board of investors, the central banks, and extended players involved in the private and public sectors.
Mauritius has already set itself as an offshore financial option for many investors, but with its light regulations, it’s also hoping to take a slice of the booming blockchain market.
“In 2016, it adopted a ‘sandbox’ approach to its licensing and regulation policies – much like Switzerland in the hopes of appealing to new innovators in the digital currency and Blockchain spheres.”