Gbemi Akande: Finding Blockchain Opportunities in Africa
Pacer Ventures, co-founded by Gbemi Akande, is a venture fund focused on Africa, but not exclusively on blockchain projects. “But,” says Gbemi, “we’ve taken a lot of interest in blockchain businesses in recent months because of the growing opportunity we see there.”
Speaking at this week’s CoinGeek talks, Gbemi says there’s a growing population of young tech talent in Africa that makes the continent “a good place to explore what blockchain can do to solve societal problems and business problems.”
But it’s not just the young, educated population that is encouraging Gbemi’s confidence: “Even governments are catching up right now to understand it as a technology itself, to develop policies around the technology, which has also helped markets grow faster.”
Exposing ordinary consumers as potential investors to the confusing array of digital currencies, many of which are built on dubious claims, can have dangers, but Gbemi believes the process will ultimately yield positive results:
“It has been a learning curve for the population. However, I am quite confident in the fact that although there are many cryptocurrencies, for example, with many success stories, but also failures and experiences, the learning rate of this young population will actually more than compensate for it. “
As for Bitcoin SV’s role in future business opportunities for Pacer Ventures, Gbemi sees one of its core strengths as the potential for “large transaction volumes.” Micropayments and money transfers are “a big deal in Africa”. That makes BSV “a well-suited protocol that can help absorb the volume of transactions that need to be done in Africa.”
The entire ‘crypto’ market has experienced a serious downturn in recent months, but Gbemi says it could have a positive effect in the long term: “This period will filter out the noise and allow the protocols and solutions with substance to actually become well known and well used. So I think it’s an opportunity to recalibrate, come down and ask the tough questions about what works best for society and for businesses.”
Gbemi mentions several sectors for BSV startups that he believes are likely to do well in the short to medium term: supply chain logistics, education and media content. In addition, streamlining government services offers great opportunities.
The fund is open to new applicants and Gbemi invites entrepreneurs to contact him: “We are out there looking for ideas to work with entrepreneurs. We go further than just writing a check. We work very closely with entrepreneurs … If anyone out there has any interesting solutions using the BSV protocol, please contact us.”
Startup investments are part of Pacer Ventures’ larger vision for Africa: “We really want to work with businesses that move the needle, that create employment, that solve societal problems on the continent.” In three or four years, says Gbemi, “We really hope to be able to work with companies that are pushing the envelope in that direction.”
Listen to Gbemi Akandi’s full interview in this week’s CoinGeek Conversations podcast or catch up on other recent episodes:
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