Nedbank becomes the first African financial services company to have representation in the virtual world
International financial services giants such as JP Morgan,...
Web 2 has been utilizing users' data to keep them in particular ecosystems, seriously depriving security and confidentiality
Web 3.0 seeks to combine...
The new administration under Kenya’s fifth president, William Samoei Ruto, has taken over in the midst of a global digital revolution. Globally, technologies such as the metaverse and crypto are slowly but steadily taking root.
Kenya has not been left behind in the growth and development of technology. East Africa’s most prosperous economy stands tall within the fourth industrial revolution and web3. Kenya stands tall as a global leader in P2P cryptocurrency transactions in matters of the crypto ecosystem.
However, a lot needs to be done, and the new administration has enough space to execute its plan regarding advancing the Kenyan digital space and the place of blockchain, web3, and crypto.
Africa is the next epicentre of crypto and blockchain innovation, as a new startup ecosystem forms to address the continent's most pressing issues. Africa has yet to properly realize the potential of blockchain technology, which is on its way to becoming a crucial component in the next digital revolution of the world economy.
However, blockchain has sprung onto the African Fintech (financial technology) landscape in the past two years as adoption has surged throughout the continent. Africa is fast gaining a reputation as the crypto-tech capital of the world. As a result, some of the most popular and stable cryptocurrencies exist in Africa.
Bridging the knowledge gap through crypto education is critical to ensure that future web3 experts come on board in ensuring that Africa and its citizens do not remain behind.
The Ethereum merger offers plenty for crypto investors to look forward to but will not generate instant benefits. Ethereum 2.0 will have to go through many phases to reach its full potential. Buterin said at the Ethereum Community Conference on July 22 that after the merge,' Ethereum would be just approximately 55% complete. The full Ethereum merge will occur sometime in 2023.
People can already exchange crypto for fiat through trades or exchanges with other cryptocurrencies. The popularity, awareness, and acceptance of cryptocurrency and blockchain continue to grow. The more the understanding and usage of crypto, the greater its relevance as a medium of exchange.
NFTs offer the potential for a variety of applications. They are, for instance, an excellent vehicle for digitally representing actual assets such as real estate and artwork. NFTs, since they rely on blockchains, may also be used to eliminate intermediaries and link artists to their fans, as well as for identity management. NFTs have the potential to eliminate intermediaries, streamline transactions, and generate new markets.
The growth and adoption of the Metaverse in Africa is increasing despite the challenges the virtual world faces. Its compatibility and interoperability in the education, medical, gaming and entertainment, real estate, digital art and the telecommuting space enabled by the Metaverse is exciting the continent, bringing immense solutions to the way of life in Africa.
The economy in the metaverse banks relies on digital properties' authentication. These properties include one's metaverse home, automobile, farm, books, clothing, and furniture. The metaverse economy also requires the capacity to travel freely and trade between worlds with various laws and rules to thrive.
The metaverse is a virtual space that connects several platforms, similar to how the internet connects various websites that offer access through a single...
The metaverse became the famous catchphrase after Facebook changed its name to Meta in October 2021. To prepare for Facebook's rebranding, the social media giant invested $10 billion in a new reality lab branch by 2021. The plan is to create metaverse content, software, and AR and VR devices, which CEO Mark Zuckerberg believes will be as common in the future as smartphones.
Even though many metaverse sites provide free accounts, anyone buying or selling virtual goods on blockchain-based platforms must utilize cryptocurrency.
Web3 is the third evolution of the internet. The movement promotes a decentralised internet infrastructure and technology. The Web 3 movement traces its roots...
