Binance to Commence Crypto Awareness Tour in Africa This June

UTC by Darya Rudz · 3 min read
Binance to Commence Crypto Awareness Tour in Africa This June
Photo: Unsplash

The blockchain educative programs in Africa started back in 2019. So far, Binance claims the crypto awareness tours have reached over 60,000 people in the continent.

As crypto adoption is becoming a popular trend and the crypto tourism industry is expanding, there is a need for increasing crypto awareness and spreading blockchain education. To do that, crypto exchange Binance is launching the Blockchain and Cryptocurrency Awareness Tour (BCAT) in Africa as soon as this June.

The goal of the tour is to spread blockchain and cryptocurrency awareness as well as educate people across Africa. Besides, it is expected to facilitate the driving of real-world adoption, thus empowering millions of people across the continent.

The campaign will start on June 4 from South Eastern, Nigeria. Then, it will move across Africa to countries such as Uganda, Ghana, Cameroon, etc. According to Binance’s post, the event will host as many as 5000 Africans.

Binance has been a sponsor of the Blockchain and Crypto Awareness Tour since 2019 when the program was first introduced. It was backed by CryptoTVPlus, a top blockchain and cryptocurrency media house from Nigeria. At that time, the program was mainly targeting students. Students as a whole would be better positioned on how to make lasting impacts on their societies with the myriad opportunities the blockchain technology affords its enthusiasts.

In 2020, the BCAT took place online because of the COVID-19 pandemic.

So far, Binance claims the educative tours have reached over 60,000 people. Among other sponsors this year, there will be Xend Finance, Sportex, Leadwallet, and BoundlessPay.

Adoption of Digital Assets in Africa

In Africa, there is no established framework for cryptocurrency education. Africans primarily use social media sites such as Twitter, YouTube, Facebook, TikTok, and Instagram to learn about Bitcoin (BTC) and other cryptocurrencies. But although the level of crypto adoption is still low in Africa in comparison with other regions, the continent is seeing an exponential adoption rate. According to The 2021 Geography of Cryptocurrency Report, in the period between July 2020 to June 2021, crypto-asset volume grew by $105.6 billion in Africa. This marks an increase of a whopping 1,200%. This represented the highest growth in the world. Besides, the report stated that some of the highest grassroots adoptions in the world are taking place in Africa. Kenya, Nigeria, South Africa, and Tanzania are making it to the top 20 of our Global Crypto Adoption Index.

Notably, many people in Africa see Bitcoin and other cryptocurrencies as an escape from government policies and inflation. In March this year, the Central African Republic legalized Bitcoin. With this, it became the second country in the world and the first in Africa to do so. Now, other African counties are warming up to the idea as well.

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