Binance launches a Blockchain and Cryptocurrency Awareness Tour (BCAT) in Africa

As the adoption of digital assets continues to grow, there is also a growing need to educate the general public on blockchain and cryptocurrencies especially owing to the risks involved. As a result, Binance has announced the launch of a ‘Blockchain and Cryptocurrency Awareness Tour’ (BCAT) in Africa.

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— Binance Africa (@BinanceAfrica) May 30, 2022

Africa has been among the fastest-growing continents in terms of crypto market adoption in the world. This has been backed by the ‘Global Crypto Adoption Index’ by Chainalysis, which highlighted four African nations (Kenya, Nigeria, Republic of South Africa, and Tanzania) among the first four among a list of top 20 countries in crypto adoption in Africa.

Educating crypto enthusiasts about crypto & blockchain 

The annual BCAT tour has been in existence since 2019 and this year’s event will be held at Amadeo Event Centre in Enugu, Nigeria, on June 4th. The choice of the event was a result of the growing crypto interest among Nigerian students.

At the end of it all, the aim of the event is to empower the young students on Crypto adoption, besides, Binance is optimistic that they will promote crypto and blockchain technology adoption in their day-to-day lives which is related to financial awareness.

According to the reports, the tour has over 60,000 Nigerian students. However, the tour is not only limited to Nigeria alone but also plans to include Cameroon, Uganda, and Ghana.

Focusing on crypto-related innovations

The tour awareness campaign will be focusing on the recent innovations and the changes that can be employed in the use of the internet. 

The event will be addressing the following main topics: 

Cryptocurrency career prospects
The metaverse and its features.
NFTs (non-fungible tokens).
An introduction to Move2Earn.
An introduction to SocialFi.
Play-to-earn gaming (P2E).

Crypto as an alternative to the traditional monetary system in Africa

According to Chainalysis:

“Africa also has a bigger share of its overall transaction volume made up of retail-sized transfers than any other region at just over 7%, versus the global average of 5.5%.”

Chainalysis reports show that quite a number of African Citizens are looking for alternative methods to the traditional monetary systems. 

In addition, many young people in African countries are looking for remote jobs in the IT and crypto sectors, since the local wages in some developing countries in Africa are not enough for their survival.