The event DecaHack of Internet Computer Protocol (ICP) has catalyzed the enthusiasm for blockchain in Africa, especially among young Nigerians. Let’s see how this initiative is shaping the future of technology on the continent.
Internet Computer Protocol (ICP): transformative potential of blockchain in Africa
As anticipated, Internet Computer Protocol (ICP) recently organized DecaHack, a significant event that highlighted the transformative potential of blockchain in Africa.
Held at the University of Ibadan, DecaHack attracted promising young people from all over the country. In particular, encouraging them to actively embrace blockchain technology to improve the global competitiveness of Nigeria.
Adedayo Adebajo, co-founder of ICP Hub Sahara, emphasized the crucial importance of adopting the blockchain at a time when its lack of adoption could severely limit the future of the country’s technological development.
DecaHack is not just a hackathon, but an entire initiative that offers online boot camps and pitch competitions, promoting education and adoption of blockchain among young people.
The event attracted a diverse range of participants, including innovators, experts, and blockchain enthusiasts from all over Africa.
The sessions have been designed to promote discussions, presentations of ideas, and networking among participants, contributing to pushing forward the technological landscape of the continent.
Web3 Interoperability and Emerging Startups
One of the most acclaimed sessions was conducted by Ucheena Agams, Web3 ambassador of Arbitrum, who explored the theme of interoperability in the Web3 world.
Agams illustrated how innovators can bridge the gap between different blockchain platforms and decentralized applications (DApp). Specifically, highlighting the crucial role of front-end developers in making this complex technology accessible.
The organizers of DecaHack have also announced generous prizes for the best emerging startups in the blockchain sector.
The first five selected startups will receive up to $25,000 in non-equity grants, as well as an opportunity to compete in the national grand finale. The finalists will have access to consultations, mentorship, and further funding opportunities through ICP.
The initiative aims to position young Nigerians for success in the global digital economy, emphasizing the importance of a proactive approach towards technological innovation.
With a strong commitment to blockchain, Nigeria is expected to remain competitive in the rapidly evolving global tech landscape. Consequently building a sustainable and inclusive digital future for all its citizens.
Global growth of Crypto startups: Asia and Africa on the rise in 2024
A recent report published by the DAO community provided a detailed overview of the state of cryptocurrency-based startups in the first half of 2024.
The analysis reveals a significant growth in the eastern regions, with Asia and Africa recording an increase in the number of new businesses in the sector.
In particular, Europe has surpassed the United States, becoming the region with the highest number of crypto startups. The European continent now represents 31.4% of the global total, while the United States stands at 29%.
This shift is significant considering that in 2021 the United States hosted almost half of the crypto startups worldwide.
However, regulatory uncertainties in the United States have contributed to a reduction in their dominance, according to the authors of the report, Qiao Wang and “Chloexyg”.
Asia, with 26.8% of crypto startups, has shown an impressive growth, becoming the third largest region in this sector. Africa has also recorded an increase, reaching 5.2% this year.
Indicating thus a growing adoption of blockchain technology and cryptocurrencies. Meanwhile, Latin America and Oceania hold respectively 5.8% and a much smaller percentage of global crypto-startups.
According to the Alliance DAO, their agnostic approach and the breadth of the sample examined have allowed for unique insights into industry trends.
