Morocco Invests $1B in AI and Blockchain to Become Africa's Leading Tech Hub

Moroccan Prime Minister Aziz Akhannouch recently unveiled the Digital Morocco 2030 strategy, which seeks to turbocharge the country's digitalization efforts

Morocco has unveiled a strategy to boost its digital economy, including investments in AI and blockchain, while two food giants have partnered to use blockchain to trace soybeans.

Morocco's Digital Morocco 2030 strategy aims to create 240,000 jobs in the digital sector and boost the country's digital exports to $4.2 billion by 2030. The strategy will also see the government integrate blockchain into public services, including the Unified Administrative Services Portal, where AI will be used in data analysis and to assist in decision-making and automation.

Meanwhile, Bunge Global SA (NASDAQ:BG) and Bangkok Produce Merchandising Public Co, a subsidiary of Thailand's CP Foods, have partnered to transport 365,000 metric tons of provably deforestation-free soybean meals from Brazil to Thailand. The blockchain technology used by CP Foods enabled them to trace the soybeans and ensure they had been grown ethically and sustainably, also giving consumers access to data such as the carbon footprint and whether the source farm had integrated regenerative agricultural practices.

The trial is geared toward capitalizing on the rise of consumer concern over sustainability in the food chain. A study by Euromonitor found that two in three consumers are worried about climate change and are willing to pay more for their food to promote sustainability. Another study by the Boston Consulting Group found that for 77% of consumers, sustainability in food purchases is among the key considerations when shopping.

This trend makes traceability along the entire food supply chain vital for food producers and retailers. Blockchain has emerged as the ideal solution for this sector. Its transparent and immutable ledger guarantees all stakeholders that data hasn’t been altered, promoting trust.

The BSV blockchain, the only enterprise-ready network, has taken the lead. Solutions like UNISOT are transforming multiple sub-sectors in the food supply chain on BSV. Its most recent product, HalalOnChain, enables companies targeting the Muslim community to prove their products adhere to Islamic law.

For Bunge, blockchain is the ideal tool to build on the end-to-end traceability it has been striving to offer for years, commented Rossano de Angelis Jr., the company’s VP for agribusiness in South America. He believes that blockchain will significantly increase “end-consumer confidence” in its products.

For now, the main focus for Bunge is proving that its soybeans in Brazil have been cultivated on deforestation-free land. In Brazil, deforestation has been a massive challenge; studies show that 20% of the 670 million hectares of Amazon forest has been lost to deforestation and that a further 20% could be lost by 2030 unless measures are taken to curb the vice.

While the government is responsible for stopping deforestation, food producers and consumers can play a part by avoiding produce from deforested areas. With blockchain, producers can prove that their food has been ethically cultivated, and Bunge and CP Foods are championing the course.

Bunge may be in the early stages of integrating blockchain into its operations, but we can anticipate the success of its latest partnership based on UNISOT’s previous demonstration using the emerging technology.

UNISOT, a Web3 supply chain sustainability platform, is one of the companies that spearhead blockchain integration in the supply chain sector, showcasing the immense potential of the technology in transforming the seafood market with its SeafoodChain initiative.

Built on UNISOT’s Asset Traceability Platform, SeafoodChain is a blockchain solution integrated with artificial intelligence (AI) technology. This innovative system offers a comprehensive and transparent approach to aid companies in adopting sustainable practices while ensuring adherence to prevailing regulations.

In order for artificial intelligence (AI) to work right within the law and thrive in the face of growing challenges, it needs to integrate an enterprise blockchain system that ensures data input quality and ownership—allowing it to keep data safe while also guaranteeing the immutability of data. 

Check out CoinGeek’s coverage on this emerging tech to learn more why Enterprise blockchain will be the backbone of AI.

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