Technology

10,000 African startups set to benefit from blockchain deal

blockchain

At least 10,000 startups across Africa are set to benefit from a Sh100 million partnership enabling young Africans and entrepreneurs to build innovative technologies and businesses around blockchain technologies.

The partnership is between Humanity Node Protocol (HNP), Web3Africa and Adanian Labs who have come together under the initiative dubbed African Startup League.

The initiative will empower African-owned enterprises to compete for a grand prize of $1 million (Sh100 million), where each business will build technologies on blockchain.

“Blockchain and Africa are inevitable. There is no bigger opportunity on the planet today to do good for humanity while making incredible returns,” said Marcus Dukes, the founder of the Humanity Node Protocol.

The Humanity Node Protocol and Web3Africa project is issuing 300,000 Humanity Non-Fungible Tokens (NFTs ) on or before August 8, 2022, to 300,000 Africans who have been registered and had their identities verified.

These Humanity NFTs represent ownership in the governance nodes of HNP and the communication, financial, distribution and transactional infrastructure (rails) of the coming multi-trillion dollar GDP of Africa.

HNP has partnered with Adanian Labs, both based in Nairobi, to create the business model and operating protocols for the Humanity NFTs and expect the Humanity NFTs will generate over $1,000 income a month for the chosen recipients awarded the Humanity NFTs.

Each awardee is required to commit 100 hours of service to Humanity Node Protocol which will create 30,000,000 hours committed to further building out the infrastructure needed to usher in the African era of hyper-economic growth.

“This is an opportunity for young Africans to take part in this initiative during a time when the world is witnessing a change in how decentralised finance and blockchain technologies are impacting societies globally. Africa is at the forefront of implementing new blockchain technologies,” said John Kamara, Founder of Adanian Labs.

Additionally, the combined Humanity, Web3Africa and Adanian Labs Ecosystem is launching the African Startup League to empower African startups that join the ecosystem, providing them the required tools, access to talent, new markets and resources to scale their businesses and monetize their ideas.

“A new startup ecosystem is forming in Africa to address the continent's most pressing issues using crypto and blockchain technology. In the midst of the next digital revolution of the global economy, Africa has yet to fully realize the promise of blockchain technology, this is where Web3Africa (www.web3Africa.news), will seek to change the perception and understanding among millions across the continent,” said Aly Ramji, Managing Editor and Co-Founder of Web3Africa.news

The African Startup League has partnered with The Exchange Africa to highlight the various startups that will be incubated and housed under the ASL.