Grow Africa, Grow Cardano
It's no secret that Cardano is recognized as a blockchain with a strong focus on Africa, and formally stated as such in Cardano's strategic goals. However, as other blockchain protocols recognize the potential of crypto in Africa, without concrete sustained action, Cardano risks losing a potential $1 trillion in market share of the African market to other blockchains within the next 3 years.
- Africa's crypto market has grown by $105 billion in the last year (2020-2021). Africa is the next crypto frontier- World Economic Forum
- Alameda Research, Coinbase Ventures, Cadenza, CMT Digital, Distributed Global, GSR, Third Prime and Avon Ventures: African Crypto Exchange VALR Raises $50M in Series B Led by Pantera Capital: https://www.coindesk.com/business/2022/03/01/african-crypto-exchange-valr-raises-50m-in-series-b-led-by-pantera-capital/
In Catalyst Fund7 the combined Africa funded projects amount was almost negligible compared to those from western and developed economies. https://twitter.com/danny_cryptofay/status/1496078645319933954?s=20&t=Ohr06EIZW05vz_B4Fjk_JA
This needs to be reversed through intentional action. Otherwise smaller and smaller portions of Catalyst funding will continue to be allocated to projects focused on African and other emerging economies due to endemic barriers.
"Having a funding round that focuses on Africa is a win, win, win scenario. Africa wins by getting some backing. Commercial projects that are already building up in Africa win, because they get the signal of support from our community. Cardano holders win when there is an encouraging environment for mass adoption anywhere. Focusing on Africa is a strategy that has often been promoted and is openly pursued by IOG and Charles Hoskinson. The ROI is likely to be high because community sponsored projects are better run in young and developing economies." Greg Bell; (originator of the Grow Cardano series)
Why is it important?
We need to look at the fundamentals that are preventing Africa from being a Cardano adoption leader, rather than a perpetual follower.
How does success looks like?
Practical innovations offered on tackling the unique challenges faced by the continent. A clear roadmap that points to increased adoption.
Key Metrics to measure
- Number of proposals addressing the fundamental issues preventing Cardano adoption in Africa
- Number of proposals offering solutions to infrastructure and education concerns
- Number of new Africa-based users onboarded onto Cardano (wallets, platform sign-ups)
- Number of new Africa-based Catalyst members (proposers, voters, CAs)
- Number of new African projects seeded in 2022
- Number of African developers onboarded in 2022
- Local impact (measurable through user activity and reach)
- Local partnerships formed (size of institution + influence)
Building resilient youth
Solution: This proposal will organise peer-to-peer coaching to provide global connections, tools, and advice. Cardano leaders have a critical role in the relationship between African youth and crypto.
Boosting Cardano In South Africa
Solution: Boost the adoption of Cardano and Project Catalyst through a grand outreach event for university students, developers, and business personnel in South Africa 🇿🇦.
Blockchain Education Masterclass
Solution: Organize both online and face-to-face community events to educate young tertiary and high school students about cardano ecosystem and its benefits.
ARTS, COMICS AND NFT IN GABON
Solution: We aim to promote artists first from Gabon and other Central African countries to western countries’ markets using NFT inspired by African cultures while establishing a Cardano hub in Gabon.
Afro-Asian youth connection
Solution: Setting up specialized platforms of communication
Create and set up global conferences both offline and online to maintain that culture
Africa Stakepool Alliance
Solution: Develop the Africa Stakepool Alliance, open access database and framework for knowledge exchange, facilitating + increasing impact of mission driven SPOs operating in Africa and the diaspora.
Africa Short Films with Cardano
Solution: Create short films that follow a person in Africa that has problems Cardano can solve to spark people outside of Cardano's circle of influence while inspiring them to align with the mission.
African Ambassador for CNFTs
Solution: We want to hire and train an on-ground ambassador for Cardano NFTs in Africa. This person’s main task would be to find artists & creators within African territories and onboard them to NFTs.
AFRICA BLOCKCHAIN YOUTH AMBASSADORS
Solution: ABYA plans to train and equip 1M+ students on blockchain and cryptocurrency by 2027 across accredited universities in Africa, starting with an MVP in Kenya, then scale to the rest of Africa.
Ada NFT Marketplace for the unsung
Solution: Ada NFT Marketplace with a DAO can facilitate reduced counterfeiting, better artwork provenance and access to DeFi and faster time to market