Browsing: Tanzania crypto

  • Africa's technology adoption is a crucial factor for the smooth adoption of blockchain.
  • Africa has some of the most highly ranked global crypto adoption indexes.
  • Most African countries have not allowed crypto to be included in economic transactions.

As much as Africa struggles with technological challenges, including the digital divide, still, the second-most populous continent has stood high when it comes to cryptocurrency adoption, bringing the crypto market to $105.6 billion by the year ending June 2021.  

In countries such as Tanzania, Kenya, South Africa, and Nigeria (ranked in the top 20 Global Crypto Adoption Index), fintech has taken a serious step towards serving millions of unbanked citizens. These nations have taken another step—they have been a significant catalyst in promoting cryptocurrency's growth, thanks to the vast expansion of smartphone use which ultimately leads to accessing blockchain networks. 

According to a September 2021 publication by The African Report, crypto adoption