Blockchain technology is rapidly evolving across the African continent, creating new opportunities in various fields, including financial technology.
Introduction to Blockchain in Africa
Blockchain in Africa opens new horizons, extending beyond cryptocurrency trading. The technology is spreading to digital payments, agricultural management, supply chains, and cultural preservation.
Market and Startups
An increasing number of startups are developing practical blockchain applications, attracting both local and international investors. In 2024, blockchain startups raised over $120 million, accounting for 7% of all venture capital in Africa.
Technology Applications Across Sectors
Blockchain is being applied in various sectors, such as finance, agriculture, and art. For instance, in Nigeria, it is being used to improve financial inclusion, while in Ghana and Tanzania, central bank digital currency pilots are underway. In art, blockchain and NFTs help African artists authenticate and sell their works.
Despite existing challenges, blockchain technology in Africa holds great potential for solving real-world problems and creating new economic opportunities.
