The world’s interest in blockchain is rising as a result. The need to educate the general public on blockchain and cryptocurrencies is increasing.

As a consequence, Binance has announced the start of its Blockchain and Cryptocurrency Awareness Tour in Africa (BCAT).

The tour seeks to promote blockchain and cryptocurrency technology in a bid to achieve mass adoption. It will also create awareness about the risks and opportunities involved in trading digital assets.

The BCAT tour will kick off in Lagos, Nigeria on the 6th of June. And will move to other cities including Accra, Ghana; Nairobi, Kenya; and Cairo, Egypt.

The tour will feature talks and panel discussions from some of the leading figures in the blockchain and cryptocurrency industry. These include Binance CEO Changpeng Zhao, Tron Foundation CEO Justin Sun, and Qtum Foundation co-founder Patrick Dai. According to a Binance tweet

Africa has long been one of the world’s most rapidly growing regions in terms of crypto market acceptance.

The “Global Crypto Adoption Index” by Chainalysis. Which ranked four African countries (Kenya, Nigeria, Republic of South Africa, and Tanzania). Among the top four nations in crypto adoption in Africa, has backed this up.

Educating crypto enthusiasts about crypto & blockchain 

The BCAT tour has been taking place since 2019. And this year’s event will be hosted in Enugu, Nigeria, on June 4th at the Amadeo Event Centre.

The choice of venue was influenced by the increasing number of cryptocurrency-related among Nigerian students.

The conference will feature discussions on the basics of crypto and blockchain technology as well as how to trade digital assets.

There will also be a hackathon to find new use cases for blockchain technology in Africa. The winning team will get $5,000 worth of Binance Coin (BNB). The event is free and open to all.

The summit’s goal is to empower young students in the crypto adoption process, while Binance is confident. That they will promote cryptocurrency and blockchain technology usage in their daily lives, which is connected to financial awareness.

According to the reports, the tour has over 60,000 Nigerian students. However, the tour is not only limited to Nigeria alone but also plans to include Cameroon, Uganda, and Ghana.

Focusing on crypto-related innovations

The tour awareness campaign will be focusing on the recent innovations. And the changes that can be employed in the use of the internet. 

The following are the main issues that the conference will address:

  • Job opportunities in the cryptocurrency space
  • The metaverse and its characteristics.
  • NFTs (non-fungible tokens).
  • An introduction to Move2Earn.
  • An introduction to SocialFi.
  • Play-to-earn gaming (P2E). 

Crypto as an alternative to the traditional monetary system in Africa

According to Chainalysis:

“Africa also has a bigger share of its overall transaction volume made up of retail-sized transfers than any other region at just over 7%, versus the global average of 5.5%.”

According to Chainalysis, a lot of Africans are seeking alternative ways to the conventional monetary systems. 

The remittances feature is also being integrated into many blockchain-based platforms to make cross-border payments easier, faster, and cheaper. The search for an alternative system has led to an increase in cryptocurrency adoption in Africa.

Many people in Africa are seeking remote jobs in the IT and cryptocurrency industries. Since local salaries in some African countries are insufficient to meet their needs.

The current financial system does not work for them, so they are turning to cryptocurrencies as an alternative.

The COVID-19 pandemic has also contributed to the increased adoption of cryptocurrencies in Africa.

The lockdowns and restrictions on movement have made it difficult for people to access cash and make payments. This has led many people to turn to digital currencies.

James Atkins

I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.