NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts

How Blockchain is Finally Getting Africa on the Grid

NewsBTC
NewsBTC
3 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

[vc_row][vc_column][vc_column_text]Parents lining up to pay school fees in cash, lenders charging extortionate rates, and cash savings held under mattresses—these are some of the things residents in Africa have had to resort to due to financial technology not having yet fully expanded in the developing continent.

According to Statista, only 48 percent of the African population has access to banking services in 2022. Accounts being the first point of entry into the formal financial system puts its citizens at an enormous setback as they are forced to turn to transactions that are not only inconvenient and wasteful but often risky too.

Having access to a financial account instead of just cash allows users to take control of their finances by offering ways to manage money. By utilizing accounts instead of cash, both governments and businesses can help bring tens of millions of adults into the digitized financial system.

According to a report from the World Bank, digitizing payments for agricultural goods alone would cut the number of unbanked goods by approximately 125 million, including 16 million in Nigeria. In Kenya, Tanzania, and Uganda, over 10% of adults still receive agricultural payments.

A policy note on mobile money from the Global Findex team found huge financial potential for Sub-Saharan Africa. Specifically, it found that regionally, 350 million adults lack an account but 155 million said they have their own mobile phone, while 200 million said they have access to one at home. Most are located in West Africa, where mobile money has yet to take off, but 40 million live in East Africa, which has one of the world’s highest mobile money account ownership rates.

Banking the Unbanked

In addition to African citizens’ limited access to their financial crisis, an estimated 494 million people in sub-Saharan Africa have no form of legal identification. This lack of connectivity not only means that the unconnected are unable to communicate with anyone outside of their vicinity, but it also contributes to poor healthcare, a low standard of education, and poverty in general.

In response, officials in the continent are starting to turn to a particular digital technology with transformative potential—the blockchain.  By harnessing the power of the decentralized blockchains, the metaverse can give African citizens access to both finances and identifications through biometric digital identification (ID)  systems. One company in particular, which believes that access to the internet is a human right, World Mobile, is doing exactly this.

Taking inspiration from pioneers throughout history, the company’s core mission is to lead a global movement toward digital inclusion. It plans on accomplishing this by deploying a dynamic hybrid mobile network consisting of aerial and ground assets, to connect the unconnected and bank the unbanked.

“Half the world is still unconnected. The world of telecommunications needs rebooting. Traditional networks with legacy systems and archaic business models are doing nothing to tackle the problem,” the company states on its website.

The Future of Mobile Networks

Currently rolling out its technology across Africa and the world, World Mobile’s hybrid network strives to connect those that traditional networks have left offline. “With access to the internet, subscribers will gain a self-sovereign identity and all of the opportunities that connectivity offers, from digital currencies to education and more” the company states.

Not only will subscribers in Africa have access to the internet, but it will also be affordable, fair, and sustainable. Its self-governed and decentralized technology will allow users to connect without jeopardizing their privacy. Subscribers can own their own data and have their own identity so they can access services they were previously excluded from like banking, insurance, borrowing, and saving.

In 2022, Africa is still drastically behind the developing world in its access to financial technology. Thanks to the emergence of blockchain technology, companies like World Mobile are pioneering platforms that are liberating African citizens’ access to financial technology through access to affordable, fair, and sustainable services. It won’t be long before the developing continent joins the rest of the world on the path to financial freedom.[/vc_column_text][/vc_column][/vc_row]

Tweet123Share196ShareSend
NewsBTC
NewsBTC

NewsBTC

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

From Inflationary Noise to Deflationary Wave: FUNToken’s Turnaround Story

The crypto landscape is littered with tokens that promised deflation but delivered inflationary dilution. Yet FUNToken has quietly rewritten that...

News BTC 5 days ago

FunToken’s F2P Model: The Missing Link for Crypto Adoption

For all the tech advancements, one problem remains surprisingly unsolved: how to turn the world’s billions of casual mobile gamers...

News BTC 6 days ago

Theta Network Welcomes Prestigious Hongik University as the 21st Academia Customer of EdgeCloud Hybrid

Theta Labs, the leader in decentralized cloud infrastructure for AI, media, and entertainment, today announced that the High-Performance Data Processing...

News BTC 1 week ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Price Isn’t the Only Thing Rising – FUNToken’s Roadmap Execution Is Gaining Speed Too

News BTC 5 hours ago

From Token Chat to 10 Cents: How FUNToken’s Group-Driven Growth Is a Model for Web3 Community Building

News BTC 1 day ago

Web2 Habits, Web3 Rewards: How FUNToken Makes Crypto Feel Natural

News BTC 3 days ago

Premium Sponsors

Press Releases

  • e 3 coiny poniżej 1 dolara mogą zamienić 200 dolarów w...

    7 minutes ago
  • ミームコインの価格急騰が続く中、注目の仮想通貨プレセールが50万ドルを突破し、次の100倍コインになる可能性がある。

    ...

    6 hours ago
  • 仮想通貨おすすめ|ビットコイン強気派の一休み中に買うべき銘柄

    ...

    6 hours ago
  • 2025年注目の新しい仮想通貨|Solana発 次世代ミームコインが投資家の期待を集める

    2025年注目の新しい仮想通貨|Solana発...

    7 hours ago
  • 2025年7月第2週にクジラが購入した注目のアルトコイン

    ...

    7 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.