Crypto in West vs East Africa

Even with differences, crypto's ecosystem brought solutions to the whole continent in order to ease typical problems that people face in their everyday lives

The continent of Africa is unique in its totality and acknowledged as having some of the fastest growing economies in the world. 

A continent of thousands of languages and cultures, unparalleled eco-diversity, and over a billion vibrant and innovative young Africans set to do exploits in their various fields of endeavor. 

While in sports, the east Africans are recognized for their long distance races and marathons, same can not be said for the west Africans who are more recognized for their sprint races. 

In the area of culture and tourism, east of Africa is the bed for wildlife animals and game reserves in the world, the west of Africa is also blessed with its own form of tourism. 

This invariably makes the both regions to have some level of similarities with lifestyle, culture, trade, and of course, finance.

Understanding the scenario

It is often said that when you study Africa, you end up becoming a highly informed person and this is evident in the vast resources of information and education that can be learnt in the African region.

However, the need to understudy the level of awareness and adoption in blockchain technology and crypto currency has created an intense participation from the eastern and western part of Africa, following the desire to emancipate the people of Africa from high levels of poverty, hunger and neglect. 

Young entrepreneurs have taken the responsibility of educating their people on the need to use blockchain technology in all facets of their businesses and the adoption of cryptocurrency as a medium of payment for their day to day transactions.

Solutions for the African continent

This has brought about some level of engagement from key blockchain projects finding their way into the African market, which has proven to be a strategic influence in their market shares as the projects are seen to be providing real life solutions to the problems plaguing the African continent. 

These projects include, but not limited, to Cardano, which has seen their projects instituted into the nations of Ethiopia and Rwanda as the blockchain has been deployed in their educational strategic master plan and their governments would all be run on the blockchain - thereby ensuring the elimination of all the bureaucracy associated in governance, making them more transparent, trustworthy, and reliable. 

The same can also be said for countries like Nigeria, Ghana and most west African countries who are gradually appreciating the need to adopt the modern developments in the blockchain technology industry.

Many young Nigerians are adopting bitcoin and other crypto currencies amid the crypto ban put in place by the Nigerian Central Bank. 

In fact, since the start of 2021, peer-to-peer bitcoin trading has grown to $204 million, the largest amount in Africa which is also similar to the crypto transactions coming out of Kenya.

This is somewhat like “what the east can do, the west can do better” from the African perspective.

Klever is about unification

However, the Klever team is not interested in the comparative statistics of the west and east of the African continent; rather we are interested in the unification of the entire African continent.

We are looking forward to putting that same freedom in the hands of the unbanked and least educated to have their own financial freedom by simply downloading the Klever wallet on their mobile devices. 

The Klever community has grown in leaps and bounds in the African continent by churning out educational content on our various social media platforms and our Klever news channels in order to communicate our desire and passion to liberate people by education and engagement.

The task is about unification of the entire African continent and as we always say in Klever, we are passionate about collaboration and not competition as the team is willing and ready to work with well meaning organizations and Government bodies to fast track the education and adoption of cryptocurrencies using the Klever ecosystem in the continent. 

It is indeed a Klever thing to do.

By James Enajite

Klever Writer

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