Africa & crypto adoption

Crypto adoption throughout the African continent and throughout the world relies on prominent projects working together as partners and not as competitors. On this front, Klever is showing the way.

Understanding the essence of any form of money, gives it the uniqueness it deserves. 

As it is expected that for money to be valid or be a legal tender, then it must be accepted and used by a majority in a society or community.

This has led many blockchain projects to develop their native tokens following the purpose for which Bitcoin was created, one of which is to be a peer-to-peer medium of exchange.

There are several projects that have been designed using the Ethereum network but due to network congestion and high gas fees associated with transaction costs, other blockchains were created based on similar technology but with cheaper fees for transactions and faster delivery time for transfer of coins, tokens and assets.

These key features associated with such blockchain have enticed other smaller projects to developed their visions on other network infrastructures and a key example is the rise of Binance Smart Chain (BSC).

BSC is essentially an exact replica of the Ethereum network but with a dynamism of a fast settlement time and a lower transaction fees for processing through the use of fewer validators, or nodes, than ETH.

Little wonder thousands of projects that have been launched in 2021 found their way into the crypto space through the BSC network, which also supports Ethereum Virtual Machine (EVM) smart contracts.

It is evident that most new entrants into the crypto market space were attracted to invest in crypto because they could easily learn how to use mobile wallets to purchase some of these new tokens or projects and eventually participate in sales and purchases of these new tokens or projects as the case may be.

Firstly, there is a high clamour for the adoption of cryptocurrency globally, but it is obvious that major players in the crypto space are getting it wrong. Business CEOs and members of the company or team members see other projects as rivals and competitors, which is inherently wrong.

To achieve the goal of making cryptocurrency and blockchain technology mass adopted, appealing and enticing to new users and people who have no idea (newbies) about what cryptocurrency is and how it can be used globally as a means of payment  then there needs to be a change in our approach as an industry.

A proper reorientation of the mind and strategy deployed is essential in order to make sure people are properly educated, and thereby know how to use blockchain and cryptocurrencies for the purpose for which it is developed:

To offer freedom of choice over your own money to billions of people around the world.

Secondly, there is this unnecessary proliferation of projects developed without use cases for which they are developed due to its cheap nature for deployment, a group of people would replicate most of existing open source codes and deploy smart contracts to access funds from unsuspecting users to invest their funds into such projects without any tangible results.

There was indeed the era of meme tokens this year in the form of animals from dogs, rabbits, goats, apes, and all what not. Then there was also the era of fruits, also the era of pastries, and other food items for tokens.

With all these phenomenon giving a bad light and name to the crypto space and creating increasingly scared and nervous traders who get into the crypto space with a mindset to make money instantaneously.

If money is good, the crypto space is expected to focus on how these tokens work with use cases and how more people can get to use the tokens and spread the utility to new market participants.

This has given more African youths the ability to go into trading as a business especially with the dynamism of the cryptocurrency business model.

Some people are more engaged with the promotion of projects and starting their own cryptocurrency advocacy programme and hubs for conversation and send more trained people to help spread the word of cryptocurrency on a global scale.

This is where the Klever family has triumphed massively by attracting over 3 million users worldwide in the past year alone.

This is how the Klever adoption has spread globally thus making Klever a household name as crypto has been made so simple and people have taken its wallet ecosystem to various locations around the world to get more people to join the Klever movement.

The Klever team and the global KLV community are all about letting other projects shine through cooperation, whether it’s, KuCoin, Syscoin or any other of been Klever’s partners, and this is a crucially important approach for us to jointly grow as an industry.

It is indeed always a pleasure to keep the Klever adoption strategy open for the world to see and whereby all the projects can now collaborate rather than compete in a klever and simple way.

By James Enajite

Klever Admin

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