Exploring the Potential of Web3 in Africa
Join Alex Tapscott and Andrew Young as they decode the world of DeFi. Listen in as Alex shares his thoughts and observations on his recent trip to South Africa, where he helped roll out the Blockchain Research Institute (BRI) in Africa and met with business leaders, financial executives, and investors.
Africa faces various challenges, including government corruption, underemployment, and lack of access to basic financial services; however, the continent remains well-positioned to be a leader in Web3 and digital transformations. Africa has made great strides in health and education, with life expectancy increasing by 25% in the last 30 years and literacy rates surging by over a third, providing the foundation for digital literacy and financial inclusion. It has a young and digitally native population, with 50% of citizens under 20 years old and over 64% of people in Sub-Saharan Africa owning a smartphone. By leveraging these demographic and technological tailwinds, Africa can overcome its challenges and achieve greater economic prosperity through Web3 and other digital technologies.
Tune in to the 84th DeFi Decoded episode to hear Alex and Andrew discuss all things DeFi and learn more about the crypto landscape in Africa. What is going on in South Africa? Why might Africa play a leading role in Web3? How can Africa potentially leap frog its legacy financial infrastructure to tap into Web3?