In an effort to transform trade throughout Zambia and the region, the Zambia Development Agency (ZDA) has introduced the Commodity Digital Trade Platform, a ground-breaking project driven by Web3 technology.
In a speech given on his behalf by Permanent Secretary Lillian Bwalya, Minister of Commerce, Trade, and Industry Hon. Chipoka Mulenga stated that the government sees trade as a key driver of economic transformation and national growth. With a population of 20 million, he claimed, Zimbabwe can access the global market to increase its economic scale.
Web3-powered initiative streamlines digital marketplace
The platform links producers, traders, regulators, cooperatives, and investors into a decentralised, transparent, and secure digital marketplace, according to ZDA Director General Albert Halwampa, who called the initiative a milestone that will change the nation’s trading ecosystem through increased transparency and inclusivity.
According to Halwampa, the platform will soon incorporate export procedures, trade finance, logistics, and regional trade alignment in accordance with the framework of the African Continental Free Trade Area (AfCFTA).
Advantages of the Web3-powered system
According to Jerad Finck, CEO and founder of Cosmic Wire Inc., the Web3-powered system would boost efficiency, foster innovation, and foster trust throughout Zambia’s developing digital economy.
Zambia’s digital transformation journey has advanced significantly with the launch of the Commodity Digital Trade Platform, which positions the country as a regional leader in inclusive economic growth and digital commerce.