Welcome to DigitalAssets.Africa
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Empowering Digital Assets adoption in Africa
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Africa
Africa is one of the fastest-growing digital assets (including crypto) markets in the world but remains the smallest, with a nascent digital asset footprint and crypto transactions peaking at $20 billion per month in mid-2021.
Kenya, Nigeria, and South Africa have the highest levels of adoption of digital assets in Africa.
Many people in Africa use crypto assets for commercial payments, but their volatility makes them unsuitable as a store of value.
Kenya, Nigeria, and South Africa have the highest levels of adoption of digital assets in Africa.
Many people in Africa use crypto assets for commercial payments, but their volatility makes them unsuitable as a store of value.
Digital Assets
Digital assets are broadly defined as any digital representation of value which is recorded on a cryptographically secured distributed ledger or any similar technology as specified by a particular country's laws.
Examples of digital assets include (but are not limited to):
Some countries do not classify digital assets as being 'real currency' (ie “fiat currency”) because they are not the coin and paper money of that country and are not digitally issued by a government’s central bank (i.e. "central bank digital currencies").
However a digital asset that has an equivalent value in real currency, or acts as a substitute for real currency, is considered to be a "convertible virtual currency".
A cryptocurrency is an example of a convertible virtual currency that can be used as payment for goods and services, digitally traded between users, and exchanged for or into real currencies or digital assets.
Examples of digital assets include (but are not limited to):
- Convertible virtual currency and cryptocurrency
- Stablecoins
- Non-fungible tokens (NFTs)
Some countries do not classify digital assets as being 'real currency' (ie “fiat currency”) because they are not the coin and paper money of that country and are not digitally issued by a government’s central bank (i.e. "central bank digital currencies").
However a digital asset that has an equivalent value in real currency, or acts as a substitute for real currency, is considered to be a "convertible virtual currency".
A cryptocurrency is an example of a convertible virtual currency that can be used as payment for goods and services, digitally traded between users, and exchanged for or into real currencies or digital assets.
About
DigitalAssets.Africa is about empowering the adoption of digital assets in Africa. We are a group of individuals sharing ideas and information with African businesses and individuals seeking to innovate financial services through digital assets. We are working with a selection of African businesses on commercial offerings for deployment in Africa and internationally.
In Africa, Digital Assets are mainly used as a way to solve problems associated with limited access to formal banking systems and poor financial inclusion. Digital Assets are mainly used for cross-border remittances – especially in countries where capital controls make moving fiat difficult – and to transfer money quicker and cheaper than traditional payments methods.
Peter Oakes, Founder DigitalAssets.Africa