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Binance launches African cryptocurrency education tour

The first leg was held in Benin on the 10th of September

by Kudzai G Changunda
  • Binance has taken a further step in its focus on Francophone Africa by commencing a cryptocurrency education tour
  • The countries to tour are Benin, Togo, Cote D’Ivoire, Cameroon and Burkina Faso
  • Binance cryptocurrency education tour focuses on 5 key areas to help people understand the worlds of blockchain and cryptocurrency

Binance has taken a further step in its focus on Francophone Africa by commencing a cryptocurrency education tour. The leading cryptocurrency exchange recently opened a cryptocurrency education hub as well as added support for direct with South African Rand for South Africans.

In their bid to take cryptocurrency further in the continent, they have embarked on a cryptocurrency education tour that will cover 5 countries over two months. The countries to tour are Benin, Togo, Cote D’Ivoire, Cameroon and Burkina Faso.

Binance cryptocurrency education tour schedule

The initial leg of the cryptocurrency education tour kicked off in Cotonou, Benin, on the 10th of September. The tour’s second leg will happen in Togo on the 24th of September. Cote D’Ivoire will host the tour’s third leg on the 8th of October, while the fourth leg will take place in Burkina Faso on October 9th.

The Binance tour will culminate in a meet-up in Cameroon on the 22nd of October.  The Benin event was a considerable success as it attracted close to 400 people, according to Binance and several news websites. It was completely offline, and the remaining legs will not have an online element either.

Read: Cameroon will play a huge role in Africa’s crypto adoption

What is a cryptocurrency education tour

This education tour is not a novel concept, but tours vary in terms of the specific activities carried out. The Binance cryptocurrency education tour focuses on 5 key areas to help people understand the worlds of blockchain and cryptocurrency. Firstly, binance educates people on the basics of blockchain technology. Secondly, they teach participants how others are using cryptocurrency in the world at large.

Thirdly, the event then goes into how cryptocurrency is helping people store value and even earn returns on their cryptocurrency balances. The fourth point the event touches on is educating people on real-world applications of blockchain technology. Finally, the tour delves into the practical aspects of cryptocurrency trading. The holistic approach imparts a better understanding of frontier technologies.

Will the Binance Cryptocurrency education tour work

To understand whether the idea will work or not, we need to have an appreciation of the digital landscape in Africa. By understanding the conditions of citizens, we can ultimately divine the utility of the cryptocurrency education tour.

Africa at large has two unique problems that come together to form a unique hurdle for web 3.0 technology adoption. Low electricity access and low internet penetration make methods such as online education complicated at best and inaccessible at worst to the majority of African citizens.

Therefore, an on-the-ground approach like the cryptocurrency education tour may better serve the populace of many African countries. In addition to the problems highlighted, there is also a need to adapt teaching material to a relatable context for people.

Binance

Binance launches African cryptocurrency education tour. [Photo/ Business Insider Africa]

Connecting concepts is much easier when we learn something through circumstances we can relate to. The idea is poised to reach many people who are ordinarily not being reached by existing methods and educate them about cryptocurrency in a way they can better assimilate.

Binance has a liking for cryptocurrency in Africa

One thing is for sure: Binance has its eye targeted at growing cryptocurrency in Africa, as seen from its recent progress in boosting adoption in the continent. And they seem to be making the right moves.

When Solana launched Solana Space, a physical embassy where people could learn about web 3.0 technologies, we opined that this approach would be fruitful on the African continent for a variety of reasons. It took less than a month for Binance to partner with Inoni tech hub in Cameroon to launch Quartier Bastos, a Yaounde-based cryptocurrency education hub.

This next step shows that Binance has not taken a “build it and they will come” approach to spreading the gospel. They are also going out to meet people on their territory to educate them about cryptocurrency, and in time, we will surely look back at this as a step in the right direction.

“It is clear that Francophone Africa has limitless potential to be a key player in the blockchain revolution. We are committed to providing more people with access to the necessary information and tools to use digital assets and blockchain.

Community is a vital part of the blockchain, and by bringing together like-minded people to learn and grow in the space, the future of blockchain in Francophone Africa is inevitably prosperous,” said Carine Dikambi, Francophone Africa Lead at Binance.

Cryptocurrency is poised to solve problems such as the cost and accessibility of transacting within and across borders in African countries. Harnessing this technology will improve efforts at financial inclusion, where over half the population has been recorded as being unbanked in the past.

How to attend the Binance cryptocurrency education tour

To register for this event, there is a registration webpage that you can visit on the binance registration link. All you need to complete the registration is your email address.  The September 24th Togo event will take place in Lome. Cote D’Ivoire will host the tour in the city of Abidjan. Burkina Faso’s capital Ouagadougou will host the fourth leg. The fifth and final leg of the cryptocurrency education tour will take place in Dschang, Cameroon.

Educating Africans from the grassroots is a brilliant move by Binance as it sets its sight on Africa. Though currently hamstrung by hardline regulation in many countries, the potential of cryptocurrency is clear for all to see. Cryptocurrency offers to boost financial inclusion while lowering transaction costs.

However, there is a challenge in spreading the gospel in places where electricity and internet access are not consistently available. Meeting the people in their backyards, so to speak, is the best way to increase education about blockchain and cryptocurrency technologies. Binance is the world’s leading cryptocurrency exchange platform, and enlarging its footprint on the African continent will help it further its position. Do you think this is the right move for Binance on the African continent?

Read: The Weeknd-Binance world tour integrates NFTs, Web3 to battle food crisis

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