Chris Maurice Declares Africa as Crypto Continent

Coinscreed
Coinscreed

30 Jun 2023 12:00 AM

Chris Maurice, CEO of crypto exchange Yellow Card, remarked that in Africa, crypto is not the "casino" it can feel...

  • Chris Maurice, CEO of Yellow Card, believes that crypto in Africa is not like a "casino" as it can feel in the West.
  • Blockchain technology is solving real-world problems in Africa, such as hyperinflation and corruption.
  • Crypto enables Africans to escape the limitations of the traditional financial system and transact more freely.
  • Kevin Imani, CEO of Sankore 2.0, sees blockchain-based payments as a human rights technology, providing financial inclusion and control over money.
  • Sub-Saharan Africa's inflation rates reached 14.5% in 2022, making peer-to-peer crypto transactions attractive for Africans.
  • Okoye Kevin Chibuoyim, CEO of GIDA, believes crypto is Africa's next opportunity for growth.
  • Block, a digital payments company, partnered with Yellow Card to facilitate cross-border payments in Africa.
  • Venture capital funding in the region increased 11 times in 2022.
  • Nigerians have embraced cryptocurrency, with 47% owning or regularly transacting with it.
  • Cryptocurrencies are illegal in several African countries, but Botswana has the most legal and regulatory clarity.

The sentiment of the article is positive towards the potential of cryptocurrencies and blockchain technology in Africa, highlighting their ability to solve real-world problems and provide financial inclusion.

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