Polygon is partnering with CV Labs to drive the adoption of blockchain technology throughout Africa. Together we believe that the technology has the potential to improve the lives of individuals, businesses, and organizations due to its transparency, immutability, speed, and low transaction fees.
Polygon is engaging and collaborating with the CV Labs network in order to introduce businesses and organizations to the Polygon ecosystem. This partnership will help expand Polygon's reach and contribute to a more digitally robust and inclusive future for Africa.
Polygon is a decentralized Ethereum scaling platform that enables developers to build scalable, user-friendly dApps with low transaction fees without sacrificing security. Enterprises can use Polygon to develop integrated applications that streamline processes, create new payment channels, and more.
Founded in 2017, Polygon has rapidly taken the place of a leader in the blockchain ecosystem, focusing on scalability issues. Thanks to raising $450m in February 2022 from various leading global VCs such as Sequoia, SoftBank, and Tiger Global, they are investing and focusing on solutions, such as ZkEVM, that drastically improve the blockchain's speed and transaction fees. Other solutions include Supernets, dedicated blockchains for specific projects, Polygon ID, a blockchain native ID system, and Polygon Nightfall, developed in collaboration with EY, which provide private and secure internal transactions within companies.
Polygon has been a driving force in connecting large Enterprises with the global blockchain ecosystem, forming partnerships with Mercedes-Benz, Meta, Starbucks, and NuBank, to name a few.
The African continent has great potential for blockchain technology because of its young population, growing tech sector, and the need for more transparency and accountability.
Polygon and CV Labs believe Africa has the talent and infrastructure to become a global blockchain hub and is looking forward to supporting enterprises, startups, NGOs, and any actors interested in the disruption blockchain can bring. Together, we are working to support the development of the ecosystem and seek to build partnerships with Africans for Africans.
Polygon already provides education and training to young people on blockchain technology through workshops, hackathons, and partnerships with blockchain associations. This is essential for creating a skilled workforce that can drive the adoption of blockchain on the continent in a sovereign way.
Blockchain technology shows great promise for Africa. Distributed ledger systems, for example, have the potential to provide Africans with a secure and transparent way to transact. In addition, blockchain-based applications can help reduce corruption and fraudulent activity.
Africa is home to a large pool of talented entrepreneurs. These factors create a fertile ecosystem for blockchain innovation. For these reasons, amongst many others, Polygon and CV Labs are bullish on Africa.
CV Labs and Polygon aim not only to get in touch with enterprises and startups but also to liaise and start discussions with governments on the benefits of investing in startups and implementing blockchain technology. Polygon aims to be at the forefront of this education and looks forward to engaging with the African ecosystem.
Polygon will help African startups gain access to resources and funding, enabling them to scale their businesses and create jobs. Polygon will further work with CV Labs to enable corporate and government bodies to experiment with blockchain technology to gain experience.
Several widely respected protocols have expressed their interest and efforts to engage with the African continent, and there has been little fruition in that regard. However, Polygon's efforts on the continent are evident and impactful, such as with:
Impact Plus, Polygon’s social impact arm and responsible for Polygon’s impact, seeks to expand the accessibility and knowledge of blockchain technology by linking international and local actors. Currently active in Brazil, Kenya, Mexico, Nigeria, and South Africa, Impact Plus works with local players positioned to use blockchain technology to build positive, effective, and sustainable solutions. The initiative seeks to create a bridge between blockchain and international development actors.
Polygon sees the continent as a land of opportunity, demonstrated by its investments in blockchain startups and working closely with them to build an ecosystem that will support the growth of the blockchain industry in Africa. In addition, Polygon is working with government officials, regulators, and other stakeholders to create an enabling environment for blockchain technology to thrive.
With the right partnerships and commitments, Africa can become a leader in the space. We applaud Polygon for its commitment to Africa and look forward to seeing how this partnership will impact the continent.