these young African shoots trying their luck – Jeune Afrique
African Blockchain: Crypto Adventurers
It all started in November 2021. At that time, the price of Bitcoin reached an unprecedented level. Approaching $60,000, it is converting new followers, surprised by this sudden valuation of the still poorly understood digital currency, and creating new fortunes around the world. Like the others of In the world economy, the first of the cryptocurrencies is enjoying a favorable economic situation, driven by the recovery of world trade. We were still far from the fear of shortage of raw materials, the explosion of the price of transportation and the war in Ukraine, which subsequently led to the collapse of its price by about 20,000 dollars.
Cryptocurrencies: The day Africa became a world leader
In Africa, many people were investing in cryptocurrencies even before this trend in the value of bitcoin. In Kenya, the consulting company Chainalysis, which specializes in monitoring the development of the crypto sector, estimates that 8.5% population holds the digital currency, which is 0.2 points higher than in the United States. According to the same source, 7.1% of South Africans also own a crypto wallet, as do 6.3% of Nigerians. In total, the firm’s experts estimate that between September 2019 and June 2021, the ecosystem grew by 2,300 percent on the continent. Enough to convince many project leaders to venture into a sector that is still poorly regulated and reserved for a handful of pioneers on the continent. An overview of start-ups to follow, away from scams, shaky business models and other promises returns suspicious.
Cryptocurrencies: How Changpeng Zhao (Binance) wants to conquer Africa