{"id":178823,"date":"2020-12-31T12:44:11","date_gmt":"2020-12-31T12:44:11","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=178823"},"modified":"2021-04-22T12:04:00","modified_gmt":"2021-04-22T11:04:00","slug":"popstar-akon-crypto-solves-africas-350-million-unbanked-people","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/popstar-akon-crypto-solves-africas-350-million-unbanked-people\/","title":{"rendered":"Popstar Akon: Crypto solves Africa\u2019s 350 million unbanked people"},"content":{"rendered":"

Crypto adoption has boomed in Africa<\/a> in the past few years, attracting eyeballs and investments, and even celebrities joining in on the cause.<\/span><\/p>\n

Targeting Africa\u2019s burgeoning economy<\/b><\/h2>\n

Many know Akon<\/a>, the world-renowned pop star, for hits like Smack That<\/em> and Right Now<\/em>, but <\/span>few <\/span><\/i>know his long-running and ongoing work in the African market with regards to cryptocurrencies, blockchains, and the proliferation of the two technologies within the broader economy.<\/span><\/p>\n

Since 2015, Bitcoin<\/a> has grown as a leading medium of exchange in the African economy, with countries like Nigeria now leading crypto adoption (and Google search) charts.<\/span><\/p>\n

Much of that growth comes from capturing an audience that is drastically affected by the underdeveloped financial sector in the region. Data suggests 350 million people are effectively unbanked.<\/span><\/p>\n

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The future of Africa is bright, and crypto is one of the reasons why.<\/p>\n

There are 350 million unbanked people in Africa.\u00a0<\/p>\n

For them, transacting with a currency that is not affected by hyperinflation, is the first step towards achieving self-sovereignty over their finances.<\/p>\n

— AKON (@Akon) December 30, 2020<\/a><\/p><\/blockquote>\n