Blockchain Technology and Digital Payments in West African Countries: A Policy Analysis

Blockchain technology has gained significant attention for its potential to revolutionize digital payments in various regions, including West Africa. This article focuses on the adoption and performance of blockchain-based systems in Egypt within this context. The analysis is based on secondary data sources from government reports, industry publications, and academic journals. A comparative framework is employed to assess the performance of blockchain systems in Egypt and other selected West African countries. A notable finding is the rapid adoption rate of blockchain technology across various sectors, particularly finance and supply chain management, driven by technological advancements and cost reductions. The integration of blockchain technology into digital payment systems has led to improved efficiency, reduced transaction costs, and enhanced transparency in financial transactions. However, regulatory challenges persist and require further attention. Policy makers should prioritise the harmonization of national and international standards for blockchain-based payments. Additionally, fostering public-private partnerships can accelerate technological adoption and address security concerns.