While blockchain titles in the West often focus on speculation and regulations, in Africa, it is a different story, rooted in necessity, innovation and basic adoption.
The last episode of The Podcast Clear Crypto Explore this revolution in the earth with Kevin Imani, head of the Africa Venture studio at Starkware, who shares how the communities on the continent use blockchain to solve the problems of the real world in finance, energy and connectivity.
A student movement
“Young students used blockchain before it was common,” said Imani. From Kenya to Nigeria, local needs, not media threshing, have led early adoption.
In many cases, students received digital currencies from abroad or freelancers being paid in dollars and have trouble converting funds into local currency. With a limited banking infrastructure or confidence in government institutions, decentralized alternatives offered a rescue buoy.
Imani underlined how centralized systems like Kenya e-pesa have changed access to finance, but are still not short for international payments or digital assets outside the ramp.
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“You must start to become an almost trader,” he said, describing the convoluted process of conversion of stablescoins or crypto gains in usable local funds. This confidence gap has fueled the use of peer cryptography.
“They were children who held stablescoins so as not to spend them, but to store value.”
Even before regulators or startups built formal infrastructure, communities had already found cases of use for blockchain.
Blockchain beyond finance
Beyond finances, African innovators exploit blockchain to combat energy insecurity. In rural zambia, the excess power of a mini hydroelectric station could be wasted. Instead, residents can now use this surplus to exploit Bitcoin, for example, generate income and create a lasting power loop. “It is independent and reduces waste,” said Imani.
Connectivity is another border. In areas where traditional internet suppliers fail, decentralized WiFi access networks are emerging. With blockchain, community members can share the bandwidth and be compensated instantly and transparently. “You don’t need an intermediary. It’s just and traceable,” he said.
However, the consumer adoption remains cautious. Governments like those of Kenya, Nigeria and South Africa are in “standby fashion”, focused more on consumer protection than large -scale implementation. But Imani remains optimistic:
“The need is there. The technology is here. The only question is how to fill this gap.”
To hear the complete conversation on The Podcast Clear CryptoListen to the full episode on the Podcasts page of Cointelelelegraph, the Apple or Spotify podcasts. And don’t forget to consult the full range of Cointelegraph of other shows!
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