Browsing: Web3

Africa's financial inclusion

Currently, financial inclusion is a target that all African countries must achieve. Boosting Africa’s financial inclusion will have a positive impact on economic growth and the prosperity of society. Through financial inclusion, everyone has access to a variety of quality, effective, and efficient financial services. Increasing public accessibility to financial service products will further reduce the level of economic and social inequality which in turn will improve the welfare of the community.

One of the efforts to achieve this financial inclusion target is through technology in the form of digital finance. When financial products and services use internet technology, it makes it easier for people to directly access various kinds of payments, shopping, savings, and investments, including loan and credit facilities. Among these digital financial elements, the payment facility is the service that is experiencing the fastest development and contributes greatly to the achievement of Africa’s financial inclusion targets.…

linking cryptocurrency to traditional finance

However, integrating cryptocurrencies with conventional financial systems becomes increasingly essential as they become more commonplace. This presents several obstacles to overcome before cryptocurrencies can realise their full potential. For instance, traditional institutions may be hesitant to work with cryptocurrencies due to concerns about money laundering and other illicit activities. Moreover, the technical difficulty of integrating cryptocurrencies with existing banking systems can prove intimidating.…

Kenya Hosts Polygon’s First Web 3.0 Bootcamp in Africa www.theexchange.africa

The Bootcamp will be divided between a two-week hackathon and a six-week learning phase. Participants must create decentralised projects on the Polygon Blockchain to compete for significant cash and mentoring awards.

More than 2,000 developers from five African nations—Nigeria, Kenya, South Africa, Egypt, and Rwanda—will attend the Bootcamp, collaborating alongside many developer groups in Africa, including GDG Nairobi. Certificates will be given to each participant.

According to Shodipo Ayomide, Global Head of Developer Advocacy at Polygon Technology, one of the several financial obstacles in Africa is cross-country money transfer.…