Modupe Gbadeyanka
By Modupe Gbadeyanka
All is now set for unveiling the State of Web 3.0 in Africa report by a dynamic blockchain technology company, Emurgo Africa.
The study, the first on the continent, aims to fill a knowledge gap by examining the potential of these technologies to advance social and economic development in Africa.
It presents a detailed view of the current landscape and prospects of Web 3.0 technologies in the region, featuring real-world use cases, possibilities and obstacles connected with their adoption.
It was gathered that work explored various aspects of Web 3.0, such as decentralized finance (DeFi), blockchain technology, digital identity, smart contracts, and data privacy.
It also looked into 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.
The chief executive of Emurgo Africa, Mr Ahmed M. Amer, while commenting on the reports, which would be released on June 23, 2023, at a media conference in Nairobi, Kenya, 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.”
Expected at the unveiling are industry leaders, policymakers and the press, as well as key figures from prominent blockchain investors, developers and ecosystem players, including NODO, CVVC, GreenHouse Capital, PwC and Cardano.
Web 3.0 technologies are gradually becoming popular in Africa, and this report by Emurgo Africa will highlight the rapidly-evolving landscape, providing an in-depth analysis of their impact, opportunities, and challenges and offering recommendations for fostering growth and measurable impact.
The system can potentially bring transformative change to industries such as 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 these technologies’ widespread use and successful implementation.
Key findings from the report include the immense opportunities for the African continent through the adoption of Web 3.0 technologies, a staggering 1,668 per cent increase in investment in blockchain technology in Africa between 2021 and 2022, and the crucial importance of collaboration between industry stakeholders, policymakers, and regulators in fostering an environment conducive to the growth of Web 3.0 technologies.
