2024

Cartesi

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/legal-uncertainty-a-major-barrier-to-web3-adoption-in-africa/" data-wpel-link="internal">Legal Uncertainty: A Major Barrier to Web3 Adoption in Africa</a><br></p>
<p class="p1" style="text-align: justify">Jathin Jagannath, a developer from the <a href="https://en.coin-turk.com/web3-enthusiast-emerges-as-a-president/" data-wpel-link="internal">Web3</a> rollup protocol <strong>Cartesi</strong>, referred to legal regulatory uncertainty as a significant barrier in Africa’s Web3 sector. According to Jathin, the absence of clear and well-defined legal regulations surrounding the Web3 industry can create fear and concern among potential users and investors.</p> 
<h2 class="p1" style="text-align: justify" id="legal-uncertainties-in-africa">Legal Uncertainties in Africa</h2> 
<p class="p1" style="text-align: justify">In an interview, Jathin Jagannath shared his thoughts that regulatory uncertainty could lead to reluctance in fully embracing the many opportunities offered by the <strong>Web3</strong> sector:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“We will see Africans overcoming these barriers with advanced crypto literacy and infrastructure upgrades, leading to rapid modernization.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">Africa continues to be promoted as a continent with great potential for the adoption and innovation of the Web3 sector. According to a recent report by PricewaterhouseCoopers and Emurgo Africa, blockchain financing in Africa increased by 1,668% in 2022, with Kenya, Nigeria, and South Africa leading the continent’s Web3 adoption.</p> 
<p class="p1" style="text-align: justify">Despite Africa’s potential towards the Web3 sector, Jathin highlighted a significant lack of education and access to information. Emphasizing the importance of developing crypto literacy, Jathin conveyed that a skilled workforce and user base are very important for the Web3 sector to be successfully integrated in many areas.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-93320 size-full" src="https://coin-turk.com/wp-content/uploads/2020/07/cartesi.jpg" alt="" width="1200" height="675"></p> 
<h2 class="p1" style="text-align: justify" id="africa-and-the-web3-space">Africa and the Web3 Space</h2> 
<p class="p1" style="text-align: justify"><strong>Cartesi</strong> and Web3bridge will come together in early January 2024 for an eight-week Cartesi course in Nigeria. Jathin discussed their determination to contribute to Nigeria’s dynamic blockchain potential, increase visibility in the African ecosystem, and enhance developers’ skills.</p> 
<p class="p1" style="text-align: justify">According to Jathin, Africa is ready for developments in the Web3 sector post-2024 due to several reasons, including its young demographics and volatile currency. However, according to Oxford Business School, nearly 24% of Africans do not participate in the banking system, which causes concern regarding the issue.</p> 
<p class="p1" style="text-align: justify">Jathin stated that decentralized Web3 wallets, among other Web3 applications, could overcome current challenges and bring transformative changes to how Africans interact with <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">financial</a> systems and perform transactions such as cross-border money transfers, underlining once again the Web3 potential in Africa.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/legal-uncertainty-a-major-barrier-to-web3-adoption-in-africa/" data-wpel-link="internal">Legal Uncertainty: A Major Barrier to Web3 Adoption in Africa</a></h5>

Legal Uncertainty: A Major Barrier to Web3 Adoption in Africa

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