Small and medium-sized enterprises (SMEs), which account for more than 95% of Morocco’s economic fabric, continue to face persistent challenges in terms of digitalisation and access to finance. Haroun El Aouad, CTO of Blocreg Solutions, sheds light on the pivotal role that blockchain and cryptocurrencies could play in the digital and economic transformation of these businesses. From opening up access to new international markets to building a transparent and innovative financial ecosystem, he analyses how these technologies could redefine the rules of the game for Moroccan MSMEs.

Small and medium-sized enterprises account for around 95% of Morocco’s economy and employment. How can these often under-digitalised businesses integrate cryptocurrencies?

The idea is that this transition towards cryptocurrencies will enable the creation of an entire ecosystem built around this technology. This revolution is both digital and economic.

Implementing blockchain will not only force or accelerate the digitalisation of Moroccan businesses, but will also create new needs across a wide range of industries. These industries could genuinely benefit from blockchain and cryptocurrency applications. In effect, this is about building a completely new ecosystem in Morocco, where new companies can develop and thrive, and where new players can emerge.

This will stimulate the economy, as we are not only introducing a new economic subcategory, but also integrating technologies that make processes faster and more efficient. It is this combination of benefits that will drive the creation of a system in which different businesses can integrate at different levels.

In practical terms, blockchain and cryptocurrencies can facilitate international transactions, reduce transaction costs and improve transparency. For Moroccan SMEs, which often struggle with financing and access to global markets, this represents a major opportunity. By adopting these technologies, they can reach new markets, attract foreign investors and even secure funding on more favourable terms.

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Ultimately, this technological integration can lead to a profound transformation, enabling Moroccan SMEs to remain competitive in an increasingly digitalised global economy.

For very small businesses, such as craft-based enterprises, what advantages can cryptocurrencies or blockchain offer?

The idea behind blockchain and crypto is that they can be integrated in different ways across a wide range of commercial activities. For artisans, for example, one can imagine a future in which Moroccan craft products, such as leather goods, can be purchased using cryptocurrencies. This would open up international markets for products that were previously confined to a local context.

The digitalisation of commerce would not only modernise transactions, but also make Moroccan products accessible to an international customer base. It is therefore not only large companies that stand to benefit from crypto, but also small businesses and artisans.

Integrating this technology could offer several advantages to small enterprises, including faster transactions, lower transaction costs and improved product traceability. In addition, access to global markets could increase revenues for artisans and small businesses, enabling them to sell directly to foreign customers without intermediaries.

Blockchain could also simplify payment procedures and strengthen customer trust through the transparency and security it provides. Small businesses could further leverage smart contracts to automate certain administrative tasks, thereby reducing costs and human error.

In short, this technological integration would allow Moroccan artisans and small enterprises to stay ahead of international competitors by equipping them with tools to grow and prosper in global markets. It is precisely this vision of a dynamic and integrated ecosystem that we aim to implement over the long term.

What impact could blockchain have on MSME financing, and how would this transformation translate in practical terms?

Blockchain has the potential to revolutionise financing models for MSMEs, which form a core component of the economic fabric. By integrating this technology, it becomes possible to create a transparent and accessible digital ecosystem that facilitates the assessment of risks and opportunities. It could also help build more inclusive financing systems by simplifying processes and opening up new pathways to credit, particularly for companies in growth phases.

In concrete terms, as blockchain adoption accelerates, the digitalisation of businesses will become unavoidable, prompting banks to rethink their strategies in favour of digital and strategic projects. For instance, the creation of “blockchain credits” could address the specific needs of MSMEs by offering innovative financing solutions under more favourable conditions. These mechanisms would also strengthen lender confidence thanks to the transparency and traceability inherent in blockchain technology.