Million-dollar blockchain projects have finally come to Africa

The potential use cases of blockchain technology largely complement Africa’s efforts to address its socioeconomic challenges, but the funds to create solutions have been hard to come by in pre-pandemic times.

But a report published recently by Swiss venture capital firm VC CV  in partnership with Standard Bank shows that millions of dollars have started trickling into the continent (pdf) in the form of blockchain financing. According to the study, 41 African blockchain startups in eight countries raised $127 million in 2021. 

Anne Kaluvu, a blockchain expert and lecturer at the Jomo Kenyatta University of Agriculture and Technology (JKUAT) in Kenya, tells Quartz there is a lot of vested interest on blockchain in Africa currently.

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Originally published on Quartz : Original article

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