• The report explores various aspects of Web 3.0, such as decentralized finance (DeFi), blockchain technology, digital identity, smart contracts, and data privacy.
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A comprehensive State of Web 3.0 in Africa Report, is set to be released on 23 June, 2023.
The report will highlight the rapidly-evolving landscape of Web 3.0 technologies in African countries, providing an in-depth analysis of their impact, opportunities, and challenges.
It will also offer recommendations for fostering growth and measurable impact.
The report, sponsored by Emurgo Africa, a blockchain tech company, will be launched at a media event in Nairobi with industry leaders, and policymakers expected to attend.
They include key figures from prominent blockchain investors, developers and ecosystem players, such as NODO, CVVC, GreenHouse Capital, PwC and Cardano who are expected to deliver notable conversations and remarks at the event.
Web 3.0 technologies are experiencing exponential growth and expansion in Africa, with the potential to bring transformative change to various industries.
These include trade and industry, financial services and lending, supply chain management and logistics and healthcare provision and accessibility.
Factors such as regulatory clarity, infrastructure development, and collaboration between stakeholders will play a significant role in the widespread use and successful implementation of these technologies.
The report aims to fill a knowledge gap by examining the potential of these technologies to advance social and economic development in Africa.
According to Emurgo, it presents a detailed view of the current landscape and future prospects of Web 3.0 technologies in the region, featuring real-world use cases, possibilities and obstacles connected with their adoption.
“The report explores various aspects of Web 3.0, such as decentralized finance (DeFi), blockchain technology, digital identity, smart contracts, and data privacy,” the company said through a presser.
“It also investigates the regulatory environment, infrastructure, and access to technology in the target nations, identifying areas for development that will facilitate the growth and adoption of Web 3.0 technologies.”
Emurgo Africa CEO Ahmed Amer said the future of Web 3.0 technologies in Africa is bright with the potential to drive unprecedented social, financial and economic development across the continent.
“This report emphasizes the critical importance of collaboration between stakeholders, policymakers, and regulators in fully realizing the transformative power of Web 3.0 technologies in Africa," he said.
Some of the key findings from the report include the immense opportunities for the African continent through the adoption of Web 3.0 technologies where a staggering 1,668% increase in investment in blockchain technology in Africa was witnessed between 2021 and 2022.
Others include the crucial importance of collaboration between industry stakeholders, policymakers, and regulators in fostering an environment conducive to the growth of Web 3.0 technologies.