Experts now predict that the African blockchain ecosystem will mature as more projects enter the global market.
This comes after a fantastic year for the crypto ecosystem in Africa and around the world in 2021, despite being severely damaged by the pandemic.
Africa’s Director for Binance, Emmanuel Babalola, observes that the continent has seen growth as well as notable development in terms of innovation, legislation, and acceptance.
According to specialists at Binance, a cryptocurrency infrastructure provider, interest and innovation in decentralized finance will continue to grow in 2022.
Decentralized finance has seen the emergence of basic building elements such as crypto lending in retrospect.
However, there have been difficulties in three areas: experienced hands, liquidity, and social or game fi.
“Despite the dubious foundation of meme coins, it appears there is no slowing down the growing number of users eager to make a quick money,” Babalola said in a statement announcing the firm’s forecasts for 2022.
As a result, cryptocurrency exchanges will have to choose between protecting non-crypto native consumers from the high risks connected with meme coins and providing customers with the tokens they want to trade.
While the number of crypto users is currently modest in comparison to traditional finance, experts believe that laws may help to attract people from traditional finance to crypto.
“The Binance team is excited to continue working with all policymakers on the future of stablecoins,” – Balalola .
The field of blockchain and cryptocurrencies is rich with innovation, having just been around for a little more than a decade.
Binance Labs seeks out, invests in, and empowers viable blockchain entrepreneurs, businesses, and communities, as well as offering funding to industry projects that contribute to the overall growth of the blockchain ecosystem.
Bill Chin, the head of Binance Labs Fund, stated that by the end of 2022, the cryptocurrency infrastructure provider hopes to have nurtured a total of 50 world-class and industry-leading portfolio businesses.
Based on last year’s results and predictions for the coming year, it’s clear that Africa’s current position in the global cryptocurrency ecosystem has a lot of promise, with a lot of adoption and penetration prospects to start enjoying the freedom of money.