What’s next for Africa as a continent?
As the world witnessed another direction to financial technology, many African country still finds it cumbersome tilting towards the use of digital coin in its finance system. We’ve seen Bitcoin hit multiple new all-time high prices and more institutional buy-in from major companies.
Despite regulations, a large part of the continent have seen exciting use cases on the Decentralized Finance system as a global finance force that will eradicate most banking processes. As people’s interest in crypto has skyrocketed this year, DeFi applications will bring the advantage of trust, transparency, and easy access for every person in need of banking.
This is an important characteristics and a key factors for financial services that have been lacking on the continent and have therefore slowed down the rate of growth in Africa.
However, Cryptocurrency platforms can therefore be seen as the future of Africa. Through them, affordable seamless cross border transfer of funds will become inexpensive.
2022, the time for African fintech ecosystem to understand Decentralized Finance as a potentially significant growth engine and disruptive force that will pull down the bulky banking processes. As clear regulations would mean a lot to removing significant roadblocks for digital currency growth and popularity in Africa.
Accepting a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority. Will be a major interchange for Africa’s economy, leveraging on decentralized blockchain technologies to modernize financial markets.
The big question is why is decentralized finance the move onward for Africa’s economy, with latest information and announcements not revealed anywhere else, as it will host the industry’s best of the best to ensure you have all the resources and notes required to expand your imagination, insight, creativity, and understanding about the future of decentralized finance in the continent.
There’s much more to explore about DeFi and the world of cryptocurrency. While it might sound abstract, keep in mind that every new technology goes through similar phases.
