Kenyan government has entered into a partnership with Venom Foundation, an Abu Dhabi-oriented blockchain platform, to introduce an African blockchain and Web3.0 hotspot, as stated by Cointelegraph.
According to Cointelegraph, the partnership aims to ensure blockchain growth in fields such as finance, supply chain, agriculture, business and cross-border trade. It’s believed that the hub will be a central base to African technology companies and government platforms.
Based on Cointelegraph’s information, the agreement will provide backing to Kenya and other countries with regard to digital modifications. The deal is also expected to cover blockchain-backed applications for supply chain management, land registry, voting systems and asset tokenisation.
“We believe that the establishment of this blockchain hub will catalyze further innovations in various industries, benefitting our people both nationally and globally,” Moses Kuria, Kenya’s Cabinet Secretary for Investments, Trade and Industry, said.
Moreover, Cointelegraph noted that Africa clocked a 429% rise with regard to blockchain deals, on account of companies receiving $474 million previous year from $90 million in 2021, as per CV VC’s data. From what it’s understood, the amount overtook global funding average, which witnessed a four percent increase.
(With insights from Cointelegraph)
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