The blockchain ecosystem came to life in 2009 when Satoshi Nakamoto mined the first Bitcoin (BTC). Since then, the industry has expanded beyond the confines of Bitcoin. Today we have thousands of digital coins and tokens, all backed by various blockchain networks.

The evolution of the industry has also extended beyond the main BTC goals enshrined in payments, and today, the ecosystem has turned towards peer-to-peer payments, decentralized finance (DeFi), non-fungible tokens (NFTs), Play-2-Earn. (P2E) game systems and metaverses among others. Lately, concepts like Proof of Reserves have gained momentum to make the industry more secure and accessible. From an industry reserved for a few tech-savvy nerds in its early days; The blockchain ecosystem is now a rapidly growing technology embedded in various industries.

The dominant growth of blockchain networks now lends credence to what is called Web 3.0. Many proponents believe that Web 3.0 is a new era in the historical evolution of the World Wide Web (WWW), which many popularly call the Internet.

With Web 3.0, a new ownership structure for content and data is created so that the average user is in control, not the tech giants or social media companies.

How the African Web3 landscape is shaping up

Web3 empowers inclusion and is designed to improve our lives. However, the world’s most widespread integration of Web3 must be more balanced in Africa, despite the technological skills and potentials that are inherently visible on the continent. From the proliferation of innovative decentralized applications to the reach of Bitcoin ATMs and leading blockchain/Web3 talent, Africa needs to grow like other regions, including the West.

One of the most common challenges facing the blockchain ecosystem in Africa is the need for increased awareness and education. The Web 3.0 ecosystem is in its infancy, with many products and services that need to be explained. Many who get involved in the space learn through active participation or adopt the industry based on profitability, both of which are well-suited for long-term integration of targeted innovations.

The regulation challenge is also a major nightmare holding back the growth of the blockchain industry in Africa. While most governments in major crypto hotspots around the world are exploring the right innovation to support emerging technology, most African policymakers are busy assessing the tech’s deceptions rather than accepting its deceptions. utilities.

These obvious challenges are compounded by the fact that the economy in many countries on the continent could be better and tends to leave the youngsters in the team looking for alternatives. As mentioned above, this alternative can be secured through Web3, but with a unique offer to overcome these challenges.

Savannah and her Web3 Mission in Africa

With her roots in Africa, Savannah understands the Web 3.0 landscape on the continent and how this can easily fit into the existing technology landscape. Savannah itself is a blockchain protocol with a mission to equip developing countries, starting with Africa, with blockchain solutions that are compatible with their current digital capabilities and scalability to create a whole new arena for the broader digital economy.

“Despite the challenges presented by the crypto ecosystem in Africa, we have observed that enthusiasm for emerging technology in the region has not diminished.” said Mowgli, CEO of Savannah Labs. “Savannah is committed to implementing customized products and services that are tailored to all African nations, embracing their unique vibrancy and current digital and technological diversity.”

Savannah is focused on bringing out the best in Africa and, based on its defined role models, can help lead the way in bringing the next billion users into the world of Web 3.0. In the pursuit of its mission, the Savannah Blockchain Network has its testnet and associated Kasuku app in beta mode, demonstrating its readiness to compete with most current blockchain protocols.

Africa is prosperous, with a curious population with a high propensity to adopt Web3 due to current financial and economic challenges. This provides a good opportunity to propose next-generation solutions that can usher in seamless financial accessibility for all.

Image by Cezary from Pixabay