By Nathan Ferguson
Considering the population of the continent, Africa has become a prime target for most blockchain exponents as it is believed that the adoption of the technology in the region can cause a huge impact on the crypto economy.
The CEO of LBank – a crypto exchange, Allen Wei, explained in an interview that blockchain could transform Africa. He further mentioned that adopting the technology could have an impact on the crypto industry and also went ahead to underscore the importance of related projects within the continent.
Blockchain is the Africa’s Economic Solution
According to him, blockchain has provided the continent with a way to solve its economic problems. He also emphasized that the continent can leverage technology to create an inclusive society. In the interview, he said: “The blockchain will contribute to helping Africa create an inclusive society with a higher standard of living and robust economy. The continent can build an economic structure that employs people and help them access great wealth than ever before.”
The CEO also added that the entire crypto space can be impacted by the region. Owing to the huge population figures in the continent, seamless adoption of crypto and blockchain in the continent will ease global adoption.
Wei said: “When that number of people adopt crypto in building their economic structure, the adoption on the global scene will be easier too, and it will ultimately contribute to a massive turnaround for the crypto economy.”
Africa is a gateway to the Entire Globe
Building on the thought, Allen Wei believes helping Africa adopt crypto is synonymous with helping the entire crypto space get a wider reach. He said: “If we all can help Africa become more crypto-friendly, the crypto space will earn a wider reach than it has ever had in the past.”
In the interview, the CEO of the crypto exchange added that it is very important to fund and nurture the growth of local crypto projects in the continent. He noted that the major problem facing blockchain and crypto projects in the continent is the lack of funding, even though the potential in the region is untapped.
According to him, this line of thought is one of the major reasons the venture capital of his crypto exchange is launching an accelerator program where they are looking to nurture local projects in the region. The executive believes that the accelerator program will help in revenue increase and job creation in Africa.