- The mobile usage rate in Africa has exponentially grown, leading to the growth of various industries such as Uber and Jumia
- Blockchain smartphone is the merger between the Mobile Industry and Web 3 technology
- Today, digital currency has gained a massive audience in Africa’s Mobile Industry. Transactions are now more accessible, faster and have a wider reach than any traditional banking system.
Blockchain technology has numerous applications in today’s technological era. Developers could isolate the very backbone that ran their envisioned Web 3 and use it to redefine specific industries. In Africa, blockchain’s favourable ecosystem, this new technology has redefined the finance sector, the health industry and its thriving agricultural sector. However, most individuals may not notice that Africa’s increased mobile usage rate may utilize blockchain technology. Blockchain smartphones and crypto phones are ushering in a new wave in Africa’s mobile Industry. Web 3 technology in smartphones may be the next frontier for the 4th Industrial revolution.
Blockchain smartphones may take advantage of Africa’s mobile Industry.
Many individuals may need to realize that Africa has one of the world’s most effective Mobile Industry growth rates. According to International Telecommunication Union, mobile usage in Africa has significantly grown since the start of the new century. Over the past five years, the mobile usage rate in Africa has exponentially grown, leading to the growth of various industries such as Uber and Jumia. Fun fact, Jumia makes more on local deliveries within Africa’s rural areas than it does internationally. These markets are all a by-product of the inclining growth of Africa’s mobile Industry.
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Currently, with the technological era, E-commerce is at its peak performance, with most industries targetting the Mobile Industry as a platform to boost their economy. Kenya, Somalia, South Africa, Nigeria and many more countries have a thriving mobile industry.
Currently, Africa’s market is expanding nearly twice as Fast as Asia all through its mobile usage rate. Web 3 technology in smartphones is the more recent trend among users. Even before the concept of crypto phones and blockchain smartphones erupted, Web 3 elements such as cryptocurrency were already heavily reliant on Africa’s mobile Industry. Centralized exchanges have created mobile platforms that made it easier for users to access their cryptocurrency through their smartphones. Fortunately, this ushered in a new kind of technology, blockchain smartphones.
The revolutionary concept of blockchain smartphones
Blockchain smartphone is the merger between the Mobile Industry and Web 3 technology. In a nutshell, a blockchain smartphone is a mobile phone with inbuilt blockchain technology that allows it to access all Web3 functionalities at a more fundamental level.
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Blockchain smartphones give users more control over their online personas and data.
Aside from its decentralized nature, the sheer application of Web 3 technology in smartphones solves various issues with current mobile functionality and security. Crypto phones have taken the entire world in awe as their mobile application comes readily with features that support crypto, the metaverse and decentralized applications. However, it is vital not to say that crypto phones are one of the first iterations of blockchain smartphones. As the years have progressed, decentralized applications have moved beyond the crypto space and now apply in different areas of life.
Benefits of Blockchain Smartphones in Africa’s ecosystem.
Improved Information Security
First and foremost, blockchain technology is known for its ability to secure individuals’ information. Its essential attributes as a distributed ledger uphold the integrity of information above all else, and its decentralized nature gives power back to the user. With blockchain smartphones, developers have been able to coat data by assigning private keys to consumers, making it difficult for anyone to access it.
In hindsight, this offers a better security system than the classic Web 2 password and 2-factor authentication. Over the years, Africa’s mobile Inudsurt has significantly suffered from identity theft and breach of information.
Cybercrime rates are at an all-time high in South Africa, Kenya and Nigeria, with the highest mobile usage rate in Africa. As a result of blockchain, smartphones and crypto phones offer a sense of control and relief for users worldwide. In addition, dApps are made easily accessible in blockchain smartphones which ensures that users are in control of their information.
Transparency.
Blockchain systems employ interrelated blocks that contain financial data and the date of every transaction. The immutable nature of blockchain can be isolated and incorporated within the crypto phone. With this, any information used can be easily accessible to the user.
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In most cases, data breaches involving corporates and Africa’s mobile Industry result from user ignorance of data usage. Furthermore, it creates some sense of trust between the DApps available in blockchain smartphones and users. In addition, transparency removes the need for a middleman. Web 3 technology in smartphones has allowed producers of services and goods to directly benefit from their hard-earned money rather than relying on third parties. This significantly makes things easier since it removes the additional legal work and cost when creating your business or brand.
The financial sector has significantly benefited from blockchain technology. Today digital currency has gained a massive audience in Africa’s Mobile Industry. Transactions are now more accessible, faster and have a wider reach than any traditional banking system. Blockchain smartphones make things even more accessible since it makes it easier for decentralized apps to function.
Crypto phones have mainly benefited from this advantage. No longer will crypto traders have to worry about where they can store their cryptocurrency since crypto phones come with inbuilt private key storage and crypto wallets that make any transaction safer and more secure. Furthermore, since blockchain smartphones directly connect Africa’s crypto ecosystem, they are essentially recognized as a node. This means that other devices will consider the crypto phone as another machine which minimizes interruptions or errors.
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In addition, the decentralized nature of blockchain ensures that all information within crypto hones has a duplicate. This ensures that any alteration of any details is impossible.
Digital Identification.
Africa’s tremendous mobile usage rate is steadily increasing, and finding an efficient way to secure them all is necessary. Insurance firms, banks and other organizations have emphasized that lobule developers create digital ID administration apps.
This allows each organization to monitor and accurately determine its mobile app usage. Unfortunately, providing the necessary ID control is proving to be a tasking task for any single organization. In some instances, organizations dedicate an entire department to providing and managing all the ID information of every mobile app. The traceable and immutable nature of this Web 3 technology in smartphones quickly solves this issue. Blockchain can create a unique identity for each crypto phone and each transaction.
This allows organizations to manage their respective applications easily. In addition, digital identification is also immutable. Thus, any alteration or theft is trackable. This feature is possible by using blockchain as hardware rather than software.
Existing Blockchain smartphones
The concept of applying Web 3 technology in smartphones has existed for some time now. Various organizations have taken it upon themselves to create crypto phones. These organizations can prove their usefulness especially given Africa’s mobile usage rate.
KlaytnPhone
Samsung and Ground X created this blockchain phone on the Klatyn network. It is the flagship blockchain phone offering from the leading smartphone manufacturer.
The device contains all basic blockchain capabilities and 2000 free Klay tokens used with its native Dapp store. It allows users to enter Web3 games and crypto networks with ease.
Nothing Phone
This blockchain smartphone is an innovation from the collaboration between Polygon and London-based Nothing Technology Limited. This crypto phone allows users to access crypto payment services from Ethereum and Polygon applications. In addition, it provides a blockchain-based privacy-centric identification feature called Polygon ID. This digital identification enables users t access its various web applications and decentralized network.
Saga
Conclusion
Africa’s mobile usage rate is steadily growing as each day passes. Blockchain smartphones shave a genuine opportunity to thrive especially given the high adoption rate of blockchain technology and the mobile Industry. Crypto phones may soon take centre stage in both worlds. Web3 technology in smartphones is still a working progress but already has so much untapped potential. Will blockchain smartphones be the next new thing in Africa’s ecosystem?
