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Pan-African Cryptocurrency - Cryptotimes

The Pan-African Crypto: Could a Blockchain-Based Currency Unite the Continent?

As Africa moves into 2024 with a promising GDP growth forecast of 3.5%, up from 3.1% in 2023, the continent faces a key moment in its economic progress. Despite global headwinds, this growth trajectory signals Africa's resilience and untapped potential. Yet…

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How Web3 Can Power Financial Inclusion Across the Continent

by Dare Afolabi November 8, 2024

In a continent where financial services often elude a significant portion of the over 350 million unbanked adults, Web3 technologies can offer practical solutions to age-old financial barriers. According to the World Bank, approximately 57% of Africa's population lacks access to…

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Blockchain Brain Drain: Retaining Africa’s Brightest Minds in the Decentralized Technology Boom

by Dare Afolabi October 31, 2024

In the first half of 2024, blockchain captured 6.4% of Africa’s total venture funding and 12.5% of all deals—well above the global averages of 3.5% and 5.9%. With a global downturn in blockchain funding in 2023, African ventures raised $135.4 million, with a…

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How crypto is shaking up remittances in Africa

by Terry Kunle October 26, 2024

There are more than 200 million people relying on cross-border transfers to send money home, and more than 800 million people benefit from these transactions. Remittance flows in low- and middle-income countries, according to the World Bank, reached US$656-billion in 2023. However, Africa continues to struggle…

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Three Ways Artificial Intelligence (AI) Tools Can Help Drive Efficiencies for Small Businesses

by Terry Kunle October 24, 2024

Almost everywhere you look today the use of Generative Artificial Intelligence (AI) is there. According to this year’s GoDaddy (www.GoDaddy.com) Global Entrepreneurship Survey, 94% of respondents reported that digitization has already noticeably improved the work processes in their small business. GoDaddy shares…

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The Future of Crypto Regulation in Africa: Balancing Innovation with Compliance

by Dare Afolabi October 23, 2024

In recent years, Africa has seen a cryptocurrency use and innovation surge. In 2023, Sub-Saharan Africa received approximately $125 billion in on-chain cryptocurrency value, marking a $7.5 billion increase from 2022, with Nigeria leading the continent with a 66.8% share of cryptocurrency…

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Polygon (POL) and Solana (SOL) Near Key Resistance: Could Cybro Outperform Them Both?

by Terry Kunle October 20, 2024

Two prominent digital coins are nearing significant barriers in their price movements, capturing the attention of traders everywhere. While Polygon and Solana edge closer to these pivotal points, a new contender, Cybro, is rising rapidly. Could this emerging asset surpass them both…

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Aya Data: A Ghanaian AI Startup Making Waves in Data Annotation and Bespoke Solutions

by Terry Kunle October 20, 2024

Ghana's burgeoning tech scene has a new star: Aya Data, an AI consultancy startup making significant strides in data annotation and building custom AI solutions for businesses. With a recent seed funding round of $900,000, Aya Data is poised to scale its…

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Baby Doge Coin Pumps 200%

by 'Femi Michael October 15, 2024

Baby Doge Coin has been on a roll for four days straight, hitting $0.0000000028—the highest it’s been since March this year. This old-school meme coin is seeing some of its biggest gains since the bull run back in 2022. The spike? It’s…

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SARS and FSCA Collaborate to Strengthen Crypto Tax Compliance Efforts

by 'Femi Michael October 14, 2024

SARS is closely working with the Financial Sector Conduct Authority (FSCA) according to its plan to compile information on registered Crypto Asset Service Providers (CASPs). Local crypto exchanges are also obliged to reveal user information, hence strengthening compliance. International cooperation supports this…