Crypto Biz: DID you see what Africa is doing with Web3?
Decentralized identity services could play a vital role in promoting Web3 payments in emerging markets like Africa. This week's Crypto Biz has the latest. If you’ve spent any time reading about blockchain and Web3, you know that this industry is filled with big buzzwords and half-baked concepts. But, concepts such as decentralized identity services, or DIDs, bring real meaning and utility to Web3. If you haven’t yet wrapped your mind around DID, it refers to a self-owned, independent identity that enables trusted data exchange. In other words, it puts digital identity management and....
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Sam Bankman-Fried’s FTX is partnering with AZA Finance to expand the use of digital currencies and Web3 in Africa. Through this arrangement, the two companies will also work to “onboard African NFTs and artists onto the FTX NFT marketplace.” Bolstering Adoption of Web3 and Crypto in Africa Hong Kong-based cryptocurrency exchange FTX recently announced the start of a partnership with AZA Finance, whose objective is to “expand the adoption of Web3 and digital currencies throughout Africa.” This also includes non-fungible tokens (NFTs). A statement released....
Leading blockchain protocols and other actors jockey for position in the race to build and mold Africa’s emerging Web3 economy. Whatever you prefer to call it — crypto, blockchain or Web3 — this new segment of the digital economy is booming across Africa. If you’ve been sleeping on the sector, now’s a good time to wake up.Why? Well for one, according to analytics firm Chainalysis, Africa’s crypto market increased in value by more than 1,200% between July 2020 and June 2021. Led by especially high adoption rates in Kenya, South Africa, Nigeria and Tanzania, Africa had the third-fastest....
A Web3 technology company, Virtual Nation Builders, recently said it acquired FHM, the firm that created safcoin, South Africa’s touted first proof-of-work cryptocurrency to list on a global exchange. As a result of the Web3 firm’s acquisition of FHM, the cryptocurrency will now “list and merge all its digital use-cases and platforms into the new VNB-built Cowrie exchange and partnerships.”
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Virtual Nation Builders (VNB), a Web3 technology firm, recently revealed it had acquired FHM (Pty) Ltd., the South....
Many continents make impressive progress in the crypto space, and Africa is not left out. Many people and even businesses from Africa have plunged into crypto sphere. Gradually, digital assets are becoming a lucrative option in the continent. Such growth in crypto adoption has drawn the attention of crypto projects to the continent. Mara is […]
Web3 or Web 3.0 as crypto boomers like to call it is a topical buzzword with only a very vague definition. Everyone agrees it has something to do with a blockchain-based evolution of the internet but, beyond that, what is it really?Yet, the conversation surrounding the meaning and prospects for Web3 has become very fashionable in crypto communities. The term gets thrown about by big corporates trying to muscle in on the space while avoiding the negative connotations of crypto.But, without an agreed-on definition, it cant be properly evaluated. Crypto influencer Cobie is among those....