Switzerland’s Crypto Valley Venture Capital (CV VC) and its ecosystem enabler, CV Labs have launched a hub in South Africa, CV Labs Cape Town. This will be Africa’s first blockchain incubation and ecosystem hub.
The opening of CV Labs Cape Town is a result of CV Labs using its renowned expertise to enable blockchain as a transformative tech in Africa.
The opening of CV Labs Cape Town is a culmination of Switzerland and South Africa’s engagement with blockchain technology in the ambit of bilateral education, research, and innovation cooperation which began in 2019.
The aim of CV Labs Cape Town is to enable blockchain startups to flourish and be the heartbeat of the African blockchain ecosystem. The launch, which was also a networking event, was attended by luminaries in the blockchain space, including educators from the University of Cape Town and co-hosts Standard Bank, Polygon, and Binance.
Gideon Greaves, MD CV VC Africa, emphasized the company’s mission saying, “Our commitment to Africa is to enable blockchain startups to catalyze greater socio-economic well being for its people and industries. Following our investment in 12 African startups, and publishing the inaugural African Blockchain Report in association with Standard Bank, CV VC has demonstrated its deep commitment to the region by opening the CV Labs Cape Town hub. We are equally excited about the forthcoming launch of our African Blockchain Early Stage Fund, which will allow global investors to invest alongside CV VC in African tech expertise.”
Ian Putter, Head of Blockchain Centre of Excellence at Standard Bank Group, and Regional Director of the Blockchain Research Institute Africa added, “I believe that the real potential for exponential leaps in financial inclusion lies in the blockchain infrastructure that underpins crypto assets rather than in the assets themselves. One of the most powerful aspects of blockchain is the ability to create programmable money that can assist in eliminating fraud and human error in transactions and foster transparency in financial records. We are very excited to see the opening of CV Labs Cape Town as it will enable the further emergence of blockchain as a resource from which Africa can build great blockchain enterprises.”
In a press statement shared on CV VC’s website, global crypto exchange, Binance is thrilled to collaborate with CV Labs Cape Town.
Emmanuel Ebanehita, Marketing Director of Binance Africa said, “While actively participating in Africa, we are proud to have provided blockchain education to over half a million people on the continent. The determination of the African people to propel their future through engagement in new technologies such as blockchain is thrilling. As such, we are pleased to collaborate with CV Labs Cape Town to advance the ecosystem and drive the adoption of blockchain.”
Africa is embracing the newfound independence that blockchain technology provides. Africans see new-age technology as a means of improving everyday life while solving fundamental difficulties. With a very young, hungry for change, and techno-savvy population, Africa is no stranger to using digital means of transacting and exchanging value. While Africa has adopted cryptocurrencies rapidly, most notable is that blockchain technology use cases go far beyond crypto, reaching towards all industry sectors, from finance to agriculture, property to utilities.