Cointelegraph: Here’s what’s happening in Web3 across Africa
Leading blockchain protocols and other actors jockey for position in the race to build and mold Africa’s emerging Web3 economy.
April 18, 2022
12 min read
Broadband internet is a powerful tool in today’s interconnected world. It is an essential service for realizing increased environmental sustainability, delivering healthcare as well as educational services, not to mention increasing opportunities for the under-represented.
In both developed and developing worlds, the World Bank categorizes internet access as a basic necessity for economic and human development. While the internet can help foster social development, it also contributes to enhanced government transparency.
The good news is that the cost of internet access is dropping globally. However, that drop is not universal as only 35% of the population in developing countries have access to the internet against the 80% in developed economies.
Fonbnk is a new decentralized finance company that is using an innovative telecommunication tool to reduce the cost of the internet and phone bills to increase the disposable income of the under-represented and drive GDP per capita of millions in the emerging world.
