It’s an interesting week for the cryptocurrency space in Africa this week. The continent has seen more governments profess their support for cryptos publicly, while others are planning to create a regulatory framework for the market.
Africa has experienced significant growth of cryptocurrency-related activities, and more countries are opening up their doors to crypto innovations and investments.
Blockchain and cryptocurrency adoption in Africa is steadily increasing with new countries in the continent getting onboard.
When it comes to cryptocurrency, Africa is quickly catching up. One particular cryptocurrency market gaining so much interest is that of South Africa.
The Kenyan Independent Elections and Boundaries Commission (IEBC) is turning to blockchain for a better election experience.
The blooming cryptocurrency industry in Africa continues to operate in legal gray areas as it progresses upwards. While other countries worldwide give cryptos attention with intention of regulating them, their African counterparts remain reluctant to make any substantial moves.
African countries are not just taking blockchain technology by the horn, they’re also tightly holding on to it. In the last few months, some countries in the region are finally realizing the great potential of cryptocurrency and its underlying technology.
In recent months, South Africa has appeared to be on the lead when it comes to adopting the new technology, with Uganda recently joining the crypto party. Now, the crypto gathering in Africa finds a new member—Kenya.
South Africa has been a frontrunner in the cryptocurrency industry in Africa. Since the beginning of 2018, the country's cryptocurrency market has seen a notable growth with more people joining each day.
The crypto bug is quickly spreading across Africa, as the popularity and adoption of virtual currencies and blockchain-based startups and hubs continue to rise in the continent.
Africa is catching the crypto wave; the domestic market growing every day with Uganda being pitched as the next cryptocurrency hotbed.