A report titled ‘State of Web 3.0 in Africa Report’ on Web 3.0 technologies has indicated that Africa recorded an increase of 1,668 percent in blockchain investments between 2021 – 2022.
The report, which will be officially released later this month, will also show how Web 3.0 technologies are experiencing growth and expansion in Africa, with the potential to bring transformative change to various industries such as trade and industry, financial services and lending, supply chain management and logistics, and healthcare provision and accessibility.
According to Emurgo Africa, owner of the report, blockchain technologies are consistently gaining acceptance in Africa as the technology is impacting other sectors of the continent’s economy.
“The future of Web 3.0 technologies in Africa is bright, with the potential to drive unprecedented social, financial, and economic development across the continent,” said Chief Executive Officer, Emurgo Africa, Ahmed Amer.
When finally unveiled, the report will fill a knowledge gap by examining the potential of these technologies to advance social and economic development on the continent.