Undoubtedly, the internet has completely changed the world and life as we know it for good. Every sports highlight from almost every era can be found online. In the same lifetime, a person who might have had to huddle around a tiny television with an ariel sticking out of its top at a neighbour’s house to catch one episode of their favourite show a week only needs a cell phone and a stable internet connection to watch their favourite childhood television shows as well as the latest show all at once.

The entertainment achievements of technology are only the absolute tip of the iceberg of what technology has given us. However, they are the simplest and, in a sense, most relatable way for many to see the leaps and bounds that developing technology has come along over a relatively short period. All before we get on to the topic of the deeply nuanced Artificial Intelligence developments.

If technological developments were a spectrum, somewhere in the middle, cryptocurrencies would be found nestled in the spot reserved for what many call one of the most disruptive creations in the financial space.

From an African perspective, crypto poses a wide scope of opportunity.

Cryptocurrencies and blockchain technology have the potential to foster entrepreneurship and innovation in Africa. They can facilitate crowdfunding through Initial Coin Offerings (ICOs) or token sales, allowing African entrepreneurs to raise funds for their projects.

Additionally, crypto, with its decentralized nature and limited supply can serve as a hedge against high inflation rates and provide African crypto players to build up a store of value that is not subject to intense government manipulation.

One of the most important benefits of crypto in Africa can be likened to being able to watch one’s favourite show on their cellphone as opposed to a neighbour’s house.

Cryptocurrencies have the potential to provide financial services to the unbanked and underbanked populations in Africa. Many people in Africa lack access to traditional banking services, but they often have access to mobile phones. Cryptocurrencies can enable individuals to participate in the global economy, make transactions, and store value without the need for a traditional bank account.

ICAP Africa Direct can serve as a guide to businesses and individuals looking to capitalize on the cryptocurrency market.

Access to crypto-currencies and stablecoin, their futures and options with relevant market data and analytics enables ICAP Africa Direct to provide well-informed solutions to their clients.

A trusted global network enables ICAP Africa Direct to offer virtually all financial derivatives and currencies and the market intelligence that will give their clients a competitive advantage. Developing as the market does allows ICAP Africa Direct to have a finger on the pulse of both traditional financial products and services as well as the emerging digital products that are now in play.

If you would like to get in touch to find out how ICAP Africa Direct can help you get involved or develop your current operations in the emerging digital financial marketplace contact: elizabeth.haskins@icapafrica.org or jason.ramberose@icapafrica.org

We look forward to hearing from you!