“Markets are evolving rapidly, and nowhere more so than in Africa,” says Gideon Greaves from Swiss investment firm CV VC, which launched a $50 million fund to support 100 African blockchain startups over the next four years
CV VC’s Africa division is presently working with stakeholders including governments, educational and research institutions, and corporate partners to realise blockchain’s value to address economic and social challenges.
In doing so, the Swiss fund believes it will learn what Africa has to offer in return. “African resilience and determination to find better ways are exemplary,” Greaves explains. “The centralised over-regulated infrastructure in the developed world cannot provide the solutions needed for this new, rapidly evolving landscape.”
A crucial one is connectivity: internet penetration in Africa sits at 43 percent, and broadband penetration is a dismal sub-1 percent. Infrastructural challenges are such that the World Bank estimates it would requireThen there are regulatory challenges, which create barriers to access and restrict the number of people who can participate in the crypto economy and the potential uses for digital currencies in the region.
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