Tether’s blockchain education initiative reaches Ivory Coast

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As an analyst with extensive experience in the cryptocurrency and blockchain space, I am thrilled to see Tether expanding its educational initiative into Ivory Coast. Having worked extensively in Africa, I have witnessed firsthand the immense potential of this continent in embracing and leveraging cutting-edge technologies like blockchain and cryptocurrencies.

As a researcher engaged in this field, I am thrilled to announce that I am collaborating with the Africa Blockchain Institute, a renowned blockchain thought leader based in Rwanda. Our aim is to extend Tether’s educational initiative, focused on cryptocurrencies, into Ivory Coast, thereby broadening our reach and fostering greater understanding of this technology across the continent.

As per a statement made on August 9th, Tether’s (USDT) collaboration aims to provide blockchain education to students by conducting workshops at five universities located within the Western African country.

As an analyst, I’ve compiled a list of the universities under review: Université Félix Houphouët-Boigny, Institut National Polytechnique Félix Houphouët-Boigny, Pigier Business School, Université Alassane Ouattara, and Université d’Abobo-Adjamé. These are the educational institutions we’re focusing on for our analysis.

In Ivory Coast, Tether is set to bolster educational programs that teach students about blockchain technology and cryptocurrencies hands-on. This initiative aims to encompass not just the basics but also delve into advanced topics like smart contracts, which play a pivotal role in various sectors such as healthcare, finance, digital identity verification, and supply chain management across the global economy today.

For a stablecoin issuer, education plays a crucial role, and they manage their educational initiatives through their Tether Edu department.

In February 2024, the company introduced Tether Edu, an initiative primarily aimed at enhancing blockchain knowledge in rapidly developing regions such as Africa, Latin America, and the Middle East. It also intends to expand its reach into Asia, Europe, and the Commonwealth of Independent States.

Blockchain technology and crypto in Africa

Not only does Africa boast a thriving crypto community, but as evidenced by a KASI Insight report from June 2023, approximately two out of every three individuals polled throughout the continent acknowledged having knowledge about digital currencies like Bitcoin or Ethereum.

Currently, data from tracking site Triple A indicates that approximately 44 million Africans own cryptocurrency. Although this is a relatively small portion compared to the global total of over 560 million, there’s a significant increase in crypto ownership across Africa. Notably, Nigeria, Kenya, and South Africa are among the countries with the highest number of crypto owners on the continent.

While it’s true that the crypto market in Africa has experienced growth, it’s not just an unregulated ‘Wild West’ environment. In fact, the International Monetary Fund (IMF) emphasized in 2022 that regulation is necessary for this market. Several African countries are currently establishing regulatory frameworks to oversee crypto activities, although some nations have outright bans on cryptocurrencies. The difficulties Binance encountered in Nigeria serve as an example of the regulatory hurdles being faced.

Although facing certain obstacles, the African crypto market is generally experiencing growth, making it an attractive target for firms like Valour who aim to capitalize on this trend by introducing innovative crypto asset offerings.

Paolo Ardoino, the CEO of Tether, spoke about this surge in growth, pointing out that a significant number of individuals in Africa incorporate cryptocurrency into their everyday activities.

In Africa, there’s a rising and substantial curiosity about cryptocurrencies, as they are increasingly vital for many residents’ daily transactions. Tether aims to equip the emerging generation of Ivory Coast and African leaders with the necessary knowledge and skills to thrive in the digital economy, according to Ardoino.

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2024-08-09 18:16