Offline CBDC functionality will help bring financial services to Ghanaians who lack access to bank accounts or an internet connection.
Africa is the second largest continent in the world in terms of both territory and population. There are 55 states located on the continent. Economies in Africa differs from country to country. In Africa, cryptocurrency tends to be sold with a large trade margin which can even reach 100% due to several reasons. Firstly, Bitcoin in Africa is very difficult to mine because of the climate and lack of infrastructure. Also, cryptocurrency is in big demand in Africa as national currencies are vulnerable to hyperinflation. Besides that, since there are only a small number of virtual currency retailers they are able to set high prices. The relative financial stability of digital money and the opportunities for profit make cryptocurrencies very popular in Africa.
The tour will begin in Zanzibar on Oct. 23 before continuing on to Kenya, Rwanda, Uganda, Zambia, Malawi, Mozambique, Zimbabwe, and Tanzania.2147
Africa has emerged as a bastion for cryptocurrency adoption. Venture capital is looking to capitalize on the growing trend.3926
P2P platforms, the need for remittances to circumvent restrictions from banks, and putting savings into crypto as a means of avoiding inflation could have contributed to the growing market in Africa.6074
Nigeria’s central bank digital currency will go into pilot testing on Oct. 1 with a tiered AML/KYC regime for the eNaira.6347
Akon City, the ambitious ideas for a pan-African crypto-powered smart city in Senegal from rapper Akon, has not progressed past the laying of a ceremonial stone in 12 months.12169
The report indicates that the adoption of crypto assets jumped 880% worldwide, with peer-to-peer platforms driving cryptocurrency usage in emerging economies.3010
Afroblocks’ co-founder urges Ghana’s central bank to involve the in-house crypto experience and expertise to help the e-cedi succeed.2160
MMTC founder Julius Mwale and Akon are expected to be in attendance at next month’s major launch event that will unveil Akoin’s national rollout across Kenya.12248
The Central Bank of Nigeria will start the pilot of its central bank digital currency, which runs on the Hyperledger Fabric blockchain, on Oct. 1.4511
The project said it would be paying roughly 6,000 farmers for crops adversely affected by climate change before the end of the season.3630
Africrypt founders are still on the run as investors turn to legal action to try to recoup funds lost in South Africa’s latest cryptocurrency theft scandal.5189
The vast majority of businesses in Africa don’t accept crypto as a payment method — and that’s something that this startup wants to change.3778
Ethiopian-based group Project Mano is lobbying the government to mine, hold and link Bitcoin to the Ethiopian birr or other legal tenders.8134
Tanzania’s president wants the country’s central bank to begin exploring Bitcoin and digital assets.20567