Are we edging closer to mass adoption?
The first half of 2020 cryptocurrency exchanges across the Continent of Africa have seen an increase of 122% in comparison with other years. This exponential growth has been a catalyst in driving some of the continent's biggest economies to start developing and modernizing legislation.
The recent decisions represent an overturn of previous years, where countries such as Nigeria and South Africa labelled cryptos as "investigation subjects" rather than investment possibilities. With the economic crisis due to the pandemic, Nigeria is adopting crypto as a valuable option for entrepreneurs and investors facing the constant devaluation of its local currency, the Naira.
In South Africa, the number of acquisitions and investments in local Cryptocurrency companies has increased overnight, creating a boom in the local scene, as the country is one of the continent's hubs.
With more examples across the continent, it is no secret that the future of crypto passes through Africa.