By Claire Obae
- Web3 marketers are looking to expand their reach beyond the United States and Western Europe, starting with the three African giants; Kenya, Nigeria, and South Africa
- Blockchain funding shot up by 1,668% last year
We are moving from the era where people used the internet to share pictures, videos, and text to the Web3 era, where people can build value for themselves using blockchain technology. Although fairly new in the Middle East and North Africa (MENA) region, the industry seems promising as blockchain funding shot up by 1,668% in 2022 compared with 2021. Web3 marketers are looking to expand their reach beyond the United States and Western Europe, starting with the three African giants; Kenya, Nigeria, and South Africa.
Why This Matters: The internet is changing as Web3 technology has already disrupted the financial services industry and is poised to do the same across other sectors. Decentralized finance allows people to manage their money without having to rely on traditional banks or other centralized institutions. The decentralization movement has gained momentum, but there’s still a need to sensitize more people.
Luckily, it’s not all talk and no action. There’s a Jambo Superapp that spans across 19 regions in the MENA region. It aims to reach a wider audience and enrich their knowledge about the inner workings of blockchain. Hopefully, more people realize the benefits of giving up some control over data, financial transactions, and social interactions.
These include lower costs for consumers, increased privacy for individuals, and greater trust between parties involved in transactions or interactions online. This will be achieved through a combination of technologies, including blockchain, cryptocurrency, and peer-to-peer networking.
What’s Next: The potential impact of this technology is an exciting vision, but how will it play out in real life? This new internet promises to give power back to users and create an open, transparent, and fair ecosystem with greater financial inclusion. It will democratize finance and make it possible for anyone to participate in financial markets regardless of location or ability to access traditional financial institutions.
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