Web3 in Africa: Why now is the right time
- Nigeria's naira has depreciated by 70% in the past eight years, posing challenges for Africa's largest economy.
- Financial exclusion is high in Africa, with 60% of the population without a bank account.
- Africa's youth population and booming tech sector create a favorable environment for digital assets and crypto adoption.
The article highlights the potential of Web3 technology to address Africa's economic challenges and drive innovation. The author emphasizes the need for collaboration with regulators, education about crypto, and investments in the right policies and collaborations. The positive sentiment and the success of African blockchain startups indicate a promising future for Web3 adoption in Africa.
