The Venom Foundation is partnering with the Kenyan government to establish a Blockchain Hub in Africa

The Venom Foundation has recently teamed up with the Kenyan government to create an innovative blockchain hub in Africa, focusing on the growth and application of Web3 and blockchain technologies. This ground-breaking collaboration will revolutionize key sectors including financial infrastructure, supply chain management, agriculture, SMEs and cross-border trade, bringing significant benefits to Kenya and the wider African continent.

Kenya’s financial landscape and blockchain potential

As much as 84% ​​of Kenya’s population already enjoys access to financial services through banks and fintech companies. The integration of blockchain infrastructure as a long-term strategy promises to further increase value for the people, generate new opportunities for the domestic economy, establish more international trade routes and optimize the efficiency of intra-African trade channels.

Venom Foundation’s foray into Africa demonstrates the continent’s progressive mindset and commitment to embracing Web3 and blockchain innovations. The organization champions blockchain adoption to empower African societies, bridge the gap between traditional finance and commerce and the Web3 realm, and stimulate regional economic growth by facilitating seamless cross-border transactions.

Realizable benefits include:

• Reduced transaction costs.
• Increased security and transparency.
• Increased access to financial services.
• Faster settlement times for cross-border transactions.
• New investment opportunities via asset tokenization.

This development has significant potential to contribute to economic growth and financial inclusion throughout Africa.

Blockchain Hub: A Catalyst for Collaboration and Growth

The Blockchain Hub will serve as a centralized platform to build partnerships with inventive companies and encourage knowledge sharing, networking and collaboration between key stakeholders in the blockchain sector, such as projects, entrepreneurs and government officials based in Africa. Cabinet Secretary Moses Kuria underlined the importance of this collaboration as part of Kenya’s ongoing push towards technological development

Venom will also provide essential tools and resources to help African nations lay a robust foundation for digital transformation. This includes blockchain-based solutions for supply chain management, land registries, voting systems, asset tokenization and other areas where blockchain technology can create a meaningful impact.

Venom Foundation CTO Christopher Louis Tsu adds:

“Africa is already rich in natural resources and human capital, bringing next-generation blockchain technology to the continent will empower its people and help not only Kenya but many other African nations to capitalize on their assets and participate in new global markets, competitively.”

By implementing these solutions, the partnership aims to increase transparency, efficiency and trust across various African sectors.

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