Cryptocurrency works the same as mobile money. Therefore, it is simpler for Africans to comprehend crypto compared to those in the developed nations, who have more financial inclusion and better access to banking institutions. Africans like crypto and blockchain because of what they signify and have embraced them more rapidly than anticipated.
The initiative by EkoLance and TechonomyAfrica directly contributes to five of the United Nations’ SDGs. These include gender equality, education, entrepreneurship, innovation, and social inclusion. Although emerging economies have historically maximised such innovative technology, the initiative will change that pattern for this wave of tech, according to Linda.
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.
Users can now seamlessly convert fiat currency for cryptocurrencies in their peer-to-peer transactions thanks to the incorporation of M-Pesa, which is protected by escrow service.
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.
The fiat currency is under the control of the government, which misses the youth population due to their underrepresentation in the government
Bitcoin...
The goal of Bitcoin's creation was to return financial power to the people. Since its beginnings, the use of Bitcoin has spread worldwide. Peer-to-peer...
