Throughout 2021, a total of $127 million was raised, accounting for 0.5 per cent of total worldwide blockchain fundraising. The majority of the venture money (96 per cent) went to South Africa, Nigeria, Seychelles, and Kenya. Fintech companies received $67 million (53 percent) of total blockchain financing, while exchanges received $34 million (26 per cent).
The adoption of blockchain technology in Africa will result in the movement of commerce away from paper-based transaction systems, laden with countless problems including corruption, time-consuming verification, and higher costs for traders, to safer, efficient, automated, digital systems of engagement.
The potential of blockchain to produce and transfer value in society through cryptocurrencies will result in a generational transition in the Internet's growth, from an Internet of Information to a new generation an Internet of Value.
Among the key agendas that the next government has no option but to offer a solution to is the talk around economic recovery. Kenyans have experienced challenging economic situations as food prices continue to stir
According to a working group study, daily crypto asset trading prices in South Africa "exceeded $145 million for the first time" in January 2021. The new restrictions are intended to increase transparency and reduce cryptocurrency usage for illegal purposes.
Kenya Electricity Generating Company PLC, KenGen, is ready to offer its surplus geothermal power to bitcoin mining companies to help them meet their high energy demands.
In terms of finance, cryptocurrency has helped Africans catch up with other countries on a continent with emerging states. Crypto is a competitive marketplace for everybody, and access is not restricted to a select few.
To help launch the XO Humanitarian Fund, The Weeknd made an initial donation of US$500,000 to the program. In addition, the multi-award winning star is contributing US$1 from each ticket sold in the anxiously awaited After Hours Til Dawn stadium tour. The World Food Program USA's Board of Directors, together with donors, will contribute US$1 million in recognition of the fund's lifesaving impact,
We recognize the need to tackle both technical and non-technical challenges to make sure web3 is adopted in full across Africa. While challenges still exist for the African continent in opening up this exciting new chapter for Web3, I know with partnerships such as that just announced by Sankore and NEAR Foundation, those challenges can be addressed head-on and efficiently over the coming years.
This year, Cardano's DeFi lending service targets to encourage over 1.3 billion people to adopt cryptocurrencies
In September 2022, it plans to invest...
The digital asset landscape has been evolving over the past decade since blockchain technology made it possible to exchange value digitally. This was not...
