Crypto Biz: Have you seen what Africa is doing with Web3?

Decentralized identity services could play a vital role in driving Web3 payments in emerging markets like Africa. This week's Crypto Biz has the latest.

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If you've spent time reading about blockchain and Web3, you know that this industry is full of big buzzwords and half-baked concepts. But concepts like Decentralized Identity Services, or DID, bring real meaning and utility to Web3. If you haven't yet understood DID, it's an independent, self-contained identity that enables reliable data exchange. In other words, it puts the management and administration of the digital identity directly in your hands instead of those of a third party.

In this week's Crypto Biz, we look at a Web3 partnership designed to bring DID-powered payment solutions to Africa. We also chronicle Maple Finance, European Central Bank and Nasdaq.

The Fuse payment platform integrates ChromePay to bring DID services to Africa

Is Web3 even possible without Decentralized Identity Services, or DID? It depends who you ask. For Web3 Fuse and ChromePay payment solutions, DIDs will play a vital role in expanding decentralized internet access, especially in places like Africa. This week, the companies announced a new partnership to bring a suite of DID-powered Web3 payment products to the African continent. Specifically, ChromePay will integrate the Fuse blockchain, allowing users to access traditional and blockchain-based payments directly on their mobile devices.

Crypto is booming in Africa!

A new report reveals that venture capital funding for African cryptocurrency startups has increased 11 times in 2022.

(Report via @ezrareguerra)