Frequently Asked Questions

What are Ponzi Schemes Using Cryptocurrencies?

The Blockchain Association of Uganda is issuing this investor alert to warn the general public about fraudulent investment schemes that may involve
bitcoin and other cryptocurrencies.

Download Ponzi Schemes Alert in PDF

How Can I Get Involved In Blockchain Association Of Uganda?

The Blockchain Association of Uganda facilitates meetups and events, and we suggest you start by meeting us and other like-minded people there. After all, we are building a community of blockchain expertise.We are currently working to establish a crowdsourcing platform and a general knowledge-bank to support the development of Blockchain technology and its applications in the Africa of tomorrow

What Are The Requirements Of Becoming A Partner?

As a general rule, the Blockchain Association of Uganda is open to partnerships with most organizations, groups and businesses. However, a potential partnership may not infringe upon our general values and ethics.We invite all potential partners to reach out, so we can get to know each other.Please see our contacts page for additional information

Are You Hiring Staff For Blockchain Association Of Uganda?

We do not currently have vacancies. However, we are always looking for talented people so please contact us with a detailed CV.

How Can I Become A Member Of Blockchain Association Of Uganda?

We do offer memberships through our website. Members of the Blockchain Association of Uganda are required to pay a membership fee and by doing so you automatically become a member and shall have access to a range of high profile events, knowledge and so many other benefits.

Does The Association Give Investment Advice?

The Blockchain Association of Uganda is first and foremost a disseminator of information and knowledge. Our mission is to foster the knowledge about Blockchain technology. We assert a role as experts and thus we do give investment advice when it comes to blockchain investment.

What Is Encryption?

Data security always matters. Encryption is basically an approach that helps organizations to keep their data secure. In this technique, the data is encoded or changed up to some extent before it is sent out of a network by the sender. The only receiver can understand how to decode the same. In Blockchain, this approach is useful because it simply adds more to the overall security andauthenticity of blocks and help to keep them secure.

What Type Of Records Can Be Kept In Blockchain? Is There Any Restriction On Same?

There is no restriction of keeping records of any type in the Blockchain approach. Presently, a lot of organizations all over the world are using this approach and the fact is records of medical transactions, events related to organizations, management activities,transaction processing, identity management, as well as documentation are the common type of records that can be kept on them. It must be noted that the record keeping is not just limited to these applications only.

What Is Double Spending?

It is one of the major problems that are associated with the digital cash. In fact, it’s a condition when one digital token is spent multiple times because the token generally consists of a digital file that can easily be cloned. It simply leads to inflation and organizations has to bear a huge loss.One of the primary aims of Blockchain technology is to eliminate this approach up to the possible extent.

What Are The Main Benefits That Blockchain Technology Can Bring To Organizations?

Blockchain allows three things that are useful for businesses. First, thanks to smart contracts, it canautomate every single process that doesn’t require creativity. Second, it allows the storing of sensitive information in such a manner that any piece cannot be modified or deleted by any employee. Third, some organizations accept cryptocurrencies as payment for their services and/oruse cryptocurrencies to transfer value from one city to another and/or pay salaries with cryptocurrencies.

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