Venom Foundation and Kenya join forces to launch African Blockchain Hub

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The Venom Foundation recently unveiled its strategic alliance with the Kenyan government to create a blockchain hub in Africa, focusing on the development of Web3 and blockchain technology applications. This partnership is set to promote innovation in key sectors such as finance, supply chain management, agriculture, small and medium enterprises (SMEs) and cross-border trade, thereby benefiting not only Kenya but the entire African continent.

Currently, over 84% of Kenya’s population has access to financial services through banks and fintech companies. By adopting blockchain infrastructure as a long-term strategy, the country aims to increase value for citizens, boost the domestic economy, establish new international trade routes and improve the efficiency of trade between countries.

In a recent tweet, the Kenyan government expressed its commitment to place Kenya at the center of Africa and the global digital map, attracting global technology companies to tap into Kenya’s exceptional technology talent. The partnership with the Venom Foundation through Venom Africa highlights Kenya’s approach to next-generation technology and financial and technological development.

Africa’s commitment to adopting Web3 and blockchain technologies is exemplified by the Venom Foundation’s expansion on the continent. The foundation seeks to strengthen African societies by bridging traditional finance and trade with the Web3 world, and promoting regional economic growth through seamless cross-border trade and transactions.

The Blockchain Hub will serve as a central platform to establish partnerships with innovative firms, facilitating knowledge exchange, networking and collaboration between key stakeholders in the blockchain space, including projects, entrepreneurs and government officials based in Africa.

Venom will provide essential tools and resources to support African countries in laying a solid foundation for digital transformation. This will include blockchain-based solutions for supply chain management, land registries, voting systems, asset tokenization and other sectors where blockchain technology can have a significant impact. The partnership aims to increase transparency, efficiency and trust across different industries across the continent.

The Venom Foundation is an ADGM-licensed organization that accelerates the growth of global Web3 projects. The decentralized network operates under the jurisdiction of the Abu Dhabi Global Market (ADGM), making Venom the world’s first interoperable blockchain, giving governments and businesses the freedom to build, innovate and scale.