Top 5 African Cryptocurrency Projects – Overview

The African subcontinent is becoming a hotbed for cryptocurrency projects. In the past few years, blockchain technology has been quickly adopted by African countries such as South Africa and Kenya to enable cross-border payments. Moreover, these nations are now looking at the potential benefits of digital currencies in areas like smart contracts, decentralized finance (DeFi), real estate tokenisation, and more.

Therefore, curating a comprehensive list of the top African cryptocurrency projects has been surprisingly straightforward. Within the first few months of their launch, these listed crypto projects have already demonstrated they can use blockchain technology innovatively and attract a high volume of users quickly.

• Direct Property Africa Token (DPAT)

With urbanization rates escalating, population growth booming, and greater connection to the world economy, African cities are faced with both difficulties and possibilities for quick real estate and infrastructure expansion.

DPAT is blazing a trail in the blockchain space by introducing an unparalleled Web3 platform that functions as a borderless real estate and infrastructure fundraising, investment and trading hub. Whether it is homes, hotels, office buildings or schools, the DPAT NFT marketplace allows developers to raise funding for their projects directly from global investors. 

DPAT mints and represents each development project with a Non-fungible token (NFT) that is then fractionalised and broken down so more investors can buy a stake in a project they like or see ROI value. The fractions can then be sold, exchanged and traded on any NFT platform. Blockchain technology underpins the whole project and makes all investments transparent and traceable. The DPAT team is initially focusing on 10 countries with the mid to long term goal of having a presence in a majority of the 54 nations that make up the African continent.

https://dpatoken.io/ 

• Akoin

Led by Senegalese-American singer Akon, Akoin is an innovative blockchain platform designed to bolster economic progress in Africa's communities. The ecosystem is an entry point for users to access the world of blockchain, cryptocurrency and digital financial services.

The Akoin team has secured partnerships with a number of organisations from the technology sector, such as IBM, Microsoft Azure, and ECCO Network. As well as this, it has established regional relationships with international telcos like MTN and Vodacom.

Aiming to make Africa a key participant in the growing global crypto market, Akon's Akoin strives to bring about economic transformation by offering citizens access to resources that are traditionally limited or unavailable on the continent.

• Cardano

Cardano has a profound influence in Africa, pushing forward initiatives such as collaborating with the Ethiopian government to create a blockchain-based ID system. Cardano offers a revolutionary blockchain platform to visionary changemakers, innovators and game-changers alike.

With the powerful tools that it provides, anyone can make a positive difference in their community and beyond, creating more equitable opportunities for all people across the globe.

Endorsed by research and backed up with evidence, this proof-of-stake blockchain platform has revolutionized the field of distributed applications, systems and networks. Its integration of groundbreaking technologies provides incomparable security measures to guarantee its sustainability and efficiency for all users.

• BitPesa

A groundbreaking blockchain payments platform based in Kenya, BitPesa offers businesses the ability to make and receive payments with multiple African currencies easily. It is a popular choice for businesses that need to move between African currencies quickly and efficiently.

BitPesa has created a regional network of thousands of users, allowing them to send money almost instantly and with minimal fees. With its integrated regulatory compliance, BitPesa ensures that users can stay compliant with local laws without compromising on speed or security.

The platform also provides access to multiple banking systems, which makes it easy for businesses in Africa to make payments across the continent faster than ever before.

• Kora Network

Kora Network is designed as an infrastructure layer to enable financial services such as savings, loans, investments and insurance products across sub-Saharan Africa. Through this blockchain-enabled open-source platform, individuals can receive access to financial services regardless of their geographical or social status.

Equipped with peer-to-peer networks and a range of smart contracts, Kora Network allows users to send money across borders quickly, securely and cost-effectively. The platform also offers transparent governance solutions, allowing users to administer funds while maintaining compliance with local regulations easily.

Kora Network's innovativeness lies in its ability to create an environment where anyone can benefit from the network's services without any prior knowledge about blockchain technology. This opens up a world of opportunities for people who previously had no access to financial resources.

The Bottom Line

Notable mentions for Tari Labs, Project Khokha, Luno and Sun Exchange. Many projects focus on payments across Africa, not many are working on one of the biggest drivers of change and growth – access to capital. This is why DPAT is one of the leading blockchain projects in Africa and stands out from the crowd as its groundbreaking model combines alternative funding for developers and builders while offering global investors alternative markets to diversify their portfolios. 

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Written by Michael Ibadan