NIGERIA: GIANT OF AFRICA, GIANT OF BLOCKCHAIN?
Exploring the rise of Nigeria's blockchain startups in 2023 HISTORY AND RISE OF BLOCKCHAIN TECHNOLOGY IN AFRICA AS A WHOLE AND NIGERIA IN PARTICULAR BY MFONISO EPHRAIM AND PRAISE DANIEL With blockchain on its way to becoming a central element in the next digital transformation of the global economy, one region yet to fully tap into the technology’s potential is Africa. But that has begun to change in the last two years, with blockchain bursting onto the African Fintech (financial technology) scene, as adoption across the continent has accelerated. “Africa is rapidly building a reputation as the hotspot of the crypto-tech world,” Gideon Greaves, Managing Director at Crypto Valley Venture Capital (CV VC) Africa, told TRT World. The rising rates of mobile tech adoption, combined with Africa’s growing tech-savvy population, make the continent a prime candidate for emerging technologies like Bitcoin. With instability in the global financial markets, high remittance fees and lim...