Nairobi, 16 November 2022. Blockchain tech utility is more prevalent in Africa than in many other regions because of its ability to solve inherent, Africa-specific problems. To highlight the rapid growth of blockchain tech even further, when comparing Q1 2021 vs. Q1 2022, venture funding for African blockchain startups far outpaced the growth seen in general African venture funding - 1,668% vs. 149% - showing 11 times the level of growth on a YoY basis. The African blockchain movement is set to enable Africa to transact and interact for the well-being of its people and economies. This movement was truly evident in Nairobi, Kenya, earlier today, where some of the brightest minds gathered and shared the fertility of blockchain and how it is empowering Kenya.
Kenya has many assets, most notably its young people. The median age in Kenya is 20.1 years, making it among the youngest population globally. This generation needs to realize its best potential and attain opportunities to innovate. This is what CV Labs Africa, together with Emurgo & Adanaian Labs, is working to achieve - empowerment of Africa's youth to enable their future using blockchain technology to bridge new industries and financial models to create their future.
Kenya has one of the most well-developed cryptocurrency markets of any global region. Ranked 19 in the global adoption index, it is one of four African nations in the top 30. Necessity, as opposed to speculation, is driving the African market. Africa is turning to blockchain tech and its first inning - cryptocurrency, as a way to preserve and build wealth despite the low economic opportunity.
Attendees were warmly welcomed by Fareed Khimani of Adanaina Labs, who, as MC, moderated a panel discussion involving Daniel Kimotho of Celo Foundation, George Msomi of Unstoppable Domains, George Mwakisha of Binance Africa, Dennis Mugambi Munyua of M-PESA Africa, and Blake Player of VALR.
Keynotes were delivered by Daniel Kimotho of Celo Foundation Kevin Imani of Sankore, and Nadeem Anjarwalla of Binance Africa. The event was followed by 3-minute Startup Pitches with utu.io, Fastagger, hela.money, ABC (Africa Blockchain Center), Crypsense Digital Group, and GEMA.
The gathering of 200 attendees left inspired and equipped with possibilities of how to further Kenya's role in the global blockchain revolution.
Speaking today, Gideon Greaves, MD of CV Labs Africa, said, “Today’s Nairobi event provided attendees exposure to the rapidly emerging Kenya Blockchain, Web 3.0, and crypto ecosystem and demonstrated how to get involved and become active in building a new future using the revolutionary technology.”
“We understand the potential that blockchain has in solving some of the challenges that are facing Africa and we believe that we can use our disruptive nature as a continent to create value for ourselves through the adoption of the technology,”
About EMURGO Africa
EMURGO develops, supports, and incubates commercial opportunities and helps integrate businesses into a blockchain system. Essentially the for-profit arm of Cardano, EMURGO endeavors to advance the platform and drive adoption through commercial ventures. With offices and live projects across Singapore, Japan, the USA, India, and Indonesia, EMURGO has extensive expertise in blockchain R&D, plus a global network of related blockchain and industry partners.
EMURGO is geared to support high-impact ideas with the potential to bring positive change across a range of sectors, especially financial services, supply chain, retail, healthcare, the public sector, and IoT. As a complete blockchain solutions provider EMURGO is dedicated to facilitating blockchain education – offering courses and expertise to universities, professionals, enterprises, and blockchain beginners. India is now home to the EMURGO Academy, and EMURGO Education students come from some of the world’s most esteemed companies: Accenture, Bank of America, IBM, Dell, Boeing, GE, Target Corporation, Morgan Stanley, S&P and more.
About Adanian Labs
Adanian Labs is a technology venture studio with a mission to build, incubate and launch impact-driven technology companies and entrepreneurs working to solve some of Africa’s most pertinent challenges. The company uses smart technologies (AI, Blockchain and IoT) as building blocks to create solutions that are impact-focused, commercially viable and scalable across Africa and other parts of the world.
Adanian Labs has invested in 40+ startups including in AgriTech, HealthTech, WomenTech, FinTech, BeautyTeach, AdTech, SmeTech and other industries; and has launched 3 centres of excellence - AI Center of Excellence Africa (AICE Africa); The Africa Block-Chain Center (TheABC) and The IOT Africa Co. to build AI, Blockchain and IoT capacity on the continent.
Adanian Labs is headquartered in Nairobi Kenya, with a presence in Nigeria, Tanzania, South Africa, Zambia, Swaziland and the United Kingdom.
About CV VC & CV Labs
CV VC is a global blockchain investor with ecosystem acceleration hubs in Switzerland, Liechtenstein, South Africa, and Germany. CV Labs is the ecosystem business pillar of CV VC.
As a private venture capital company, CV VC offers seed funding and an acceleration program to global tech teams in exchange for equity or tokens. In addition, CV VC provides blockchain industry consulting and advisory to corporates and governments. As among the founding fathers of Crypto Valley which is the birthplace of Ethereum and home to the largest herd of blockchain unicorns, CV VC & CV Labs is the hub of Crypto Valleys' acumen and a global force driving the dynamics of Web3.
CV VC has already invested in over fifty blockchain startups and is renowned for its entrepreneurial spirit as epitomized by its founders and board members who represent its ethos - Founders for Founders. These include industrialist Alex Wassmer, entrepreneurs Mathias Ruch and Florian Kohler, investment banker Olaf Hannemann and financial expert Ruth Salvisberg, former Finnish Minister Anne Berner, and Philipp Rösler, ex-Vice-Chancellor of Germany & Managing Director of World Economic Forum.