A Blockchain Technology Company, EMURGO Africa in partnership with PricewaterhouseCoopers, PwC, disclosed that Nigeria ranked among the Top 10 worldwide for crypto adoption.
It said in a statement made available to the News Agency of Nigeria in Lagos that this was revealed in its “State of Web3.0 in Africa” report unveiled on Friday.
EMURGO Africa said that the report provided an expansive and insightful analysis of the emergent influence of blockchain and Web3.0 technologies within Africa and the Middle East and North Africa, MENA, region.
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The Blockchain Technology is defined as a decentralised record of transactions that are stored on a huge number of computers across the internet.
Web 3.0 is a decentralised internet built on an open blockchain network that is not owned and controlled by large entities.
EMURGO Africa said that the report showed that Nigeria’s position emphasised its role in propelling financial inclusion and nurturing innovation in the digital currency sector in West Africa.
“The report casts a spotlight on the pivotal rise of blockchain investment within Africa.
“With compelling statistics, it heralds Africa’s burgeoning presence within the global blockchain arena,” it said.
According to the company, the report revealed that blockchain funding soared by 1.668 per cent in 2022 compared to the preceding year, accumulating a total of 91 million dollars in countries like Kenya, South Africa and Nigeria.
