Scam and walk free? Blockchain never forgets, you could be caught 15 years later
- Decentralized finance (DeFi) is addressing long-standing financial challenges in Africa, including fraud and high transaction fees.
- Cryptocurrency transactions in sub-Saharan Africa are projected to reach $205 billion between July 2024 and June 2025.
- Nigeria leads the region with $92 billion in crypto activity, with 22 million Nigerians now holding cryptocurrencies.
The rapid adoption of decentralized finance in Africa presents a unique opportunity to reshape the financial landscape, but it is imperative to address the accompanying risks of fraud and regulatory challenges. A collaborative approach involving both public and private sectors will be essential to foster trust and ensure the safe use of these innovative financial tools.
