With a 1,200% increase in the volume of crypto received between 2020 and 2021, the accelerated adoption of digital assets in Africa has caught the attention of several companies and organizations looking to take part in this growing market.
Scheduled for June, the Blockchain and Cryptocurrency Awareness Tour (BCAT) is an ongoing Binance-powered awareness campaign that has spread knowledge and tried to cultivate a strong crypto community in Africa. By reaching out to university students, primarily in southeastern Nigeria, the campaign hopes to increase crypto adoption among young Nigerians, the predominant age group in the country.
The main event will take place on June 4 at the Amadeo Event Center in Enugu, Nigeria. Other stops on the tour include Uganda, Ghana and Cameroon.
A new report reveals that venture capital funding for African cryptocurrency startups has increased 11 times in 2022.
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— TAUT (@TAUT) May 25, 2022
Despite being the world’s smallest crypto economy by market penetration, Africa is embracing digital assets at a faster rate as people seek alternatives to weak financial infrastructure and a lack of financial means. payment. Remittances, peer-to-peer payments and savings have become the top drivers of adoption for local residents, according to data from Chainalysis. Like in Argentina, many people in Africa view Bitcoin (BTC) and other cryptocurrencies as an escape from government policies and inflation.
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BCAT Africa 2022 also seeks to address the need for a common crypto conversation space, especially in a place where most central banks have banned or severely regulated cryptocurrencies, which has driven many Africans to peer-to-peer systems. -to-peer, which have grown in popularity. .