Binance Announces Crypto Awareness Tour in Africa as Adoption Numbers Spike in 2021

Major global cryptocurrency exchange Binance is launching a Crypto and Blockchain Awareness Tour (BCAT) in Africa, a cryptocurrency awareness tour within a specific location as cryptocurrency adoption continues to become a popular trend on the continent. The aim of the tour is to spread awareness of blockchain and cryptocurrency as well as educate people across Africa. Besides, it is expected to facilitate the real-world adoption process, enabling millions of people across the continent to use cryptocurrencies in the process.

The campaign will start on June 4th from southeast Nigeria. After that, it will travel across Africa to countries like Uganda, Ghana, Cameroon, etc. According to the Binance website, the event will host up to 5,000 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 popular blockchain and cryptocurrency media house from Nigeria. At the time, the program was mainly aimed at students. Students as a whole will be in a better position as to how they can make lasting impacts on their communities through the many opportunities that blockchain technology offers its fans.

In 2020, the BCAT test was conducted online due to the Corona Virus Pandemic. So far, Binance claims that educational tours have reached more than 60,000 people. Among other sponsors this year, major entrants include global decentralized finance (DeFi) platform Xend Finance, decentralized esports and betting platform Sportrex, crypto wallet service Lead Wallet, and crypto payments provider BoundlessPay.

However, this year’s Tour version will lean heavily toward the economics of play for earning, non-fungible tokens (NFTs), and metaverses. Although Africa is still far behind when it comes to cryptocurrencies being a contributor to the economy, users have been able to use the asset as a close alternative to failed payment systems across the region.

In a survey published in late 2021 by Chainalysis, the main drivers of adoption across Africa were peer-to-peer payments and savings among others. As in the case of major developing countries, Nigerians view cryptocurrencies as a means of escaping the many policies announced by the government and inflation. The awareness tour will also seek to create a common space where discussions about cryptocurrencies will take place.

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