EMURGO Africa is set to host the State of Web3 event at Abuja on October 27th 2023 and 5 startups will be engaging in a live pitching contest to win the $1,000 NODO Grant.

Being the regional entity of EMURGO Middle East and Africa (MEA), EMURGO Africa is set to host a Web3 event on Friday with the specific aim of bringing together stakeholders in Africa’s Web3 ecosystem. The event will offer the participants a chance to network with industry enthusiasts and leaders while participating in panel discussions and knowledge-sharing opportunities. Topics that will be covered will be the broad aspects of non-fungible tokens (NFTs) and decentralised finance, with major touchpoints on how blockchain is transforming crucial sectors like healthcare, agriculture, housing and finance.

What’s the motivation behind the event?

Earlier this year, EMURGO Africa collaborated with PwC to unveil the State of Web 3.0 in Africa report. The report aimed to understand the Web3 landscape of Kenya, Nigeria and South Africa for the purpose of identifying, supporting, and incubating the blockchain players in those regions. Although the adoption of blockchain in Africa is slow, the continent’s cryptocurrency market is growing significantly. In fact, Kenya, Nigeria, South Africa and Tanzania ranked among the top 20 global adopters of crypto in 2021.

To support this growing interest and unlock more possibilities embedded in cryptocurrency, EMURGO Africa plans the State of Web3 event to provide an opportunity for key stakeholder collaboration and panel discussions on ways of catalyzing the continent’s growth using Web3. In addition, the event will provide the opportunity for 5 startups to showcase their blockchain projects in front of relevant stakeholders to increase their access to funding and partnerships. Africa’s crypto market grew by 1200% from 2020 to 2021 while the blockchain venture funding growth was 11 times more in 2022 compared to 2021. An event like this will open the atmosphere for more progressive growth in the coming quarters.

Now let’s briefly look into each of the contesting startups…

Pepp

Pepp is a decentralized ride-sharing app with a secure and efficient payment system and real-time tracking of rides. The founder, Jusudara Jeminusi, understands the frustration associated with delayed settlement of bills while ordering riding services. Because we’re in a world where speedy transactions are germane, Pepp is building a technology through which drivers are paid promptly and passengers are charged accurately.

Pepp’s platform is a secure and efficient payment system built on blockchain which also provides real-time tracking of rides. With their decentralized ride-sharing app already in operation in Abuja, they hope to expand to new cities in the coming months.

CaaS

Compliance As A Service (CaaS) is a crypto-compliance solution that helps businesses stay ahead of sanction rules and monitor suspicious transactions within the cryptocurrency ecosystem. They assist clients in hiring, educating, and overseeing their crypto compliance functions. As a certified crypto compliance specialist, CaaS addresses the whole crypto compliance spectrum, including KYC/KYB/KYV, AML/CTF, STR/SAR, Travel Rule Flags, Crypto Wallet Address Monitoring and Tracing.

It is the goal of the company to lessen the burden of compliance on African startups and virtual asset service providers (VASPs) by outsourcing compliance management tasks to a third party with the resources needed to meet regulatory standards in a more cost-effective way. This way, startups are given all the requirements to have simple-to-use, affordable, and efficient crypto compliance programs.

Legum

This innovative startup is building a decentralized marketplace where anyone can get access to lawyers from anywhere all over the world. With a unique dispute resolution mechanism aimed at improving the transparency, accessibility, and efficiency of legal transactions, Legum is creating a world where everyone has equal access to justice.

The startup was built because of the perceived gap between people and the legal system. Legal services are predominantly expensive, inaccessible and non-inclusive and Legum rose to solve these compelling problems. Built on blockchain technology, their solution will ensure that anyone from anywhere can get legal representation via a few clicks on their phones.

Wego Health

Wego Health is building the digital operating system for Africa’s pharmaceutical value chain. It is an innovative startup that optimizes the pharmaceutical supply chain by creating a one-stop shop for seamless restocking of medication items. Built on the blockchain infrastructure, Wego Health is operating within the health sector by optimizing the access of people to pharmaceutical services.

Notaze

Notaze is building a digitized authentication through a fully integrated, blockchain solution that stores documents securely and transparently, with permission access.

In conclusion…

As the event is drawing nearer, blockchain enthusiasts are encouraged to attend as many industry experts will be there to provide valuable insights on the exciting opportunities in Web3 and how individuals and businesses can join the moving train to provide exponential growth in Africa's blockchain industry. While hoping to experience the enthralling pitches of the 5 startups, the event promises to be exciting, captivating and progressive for the participants and the African continent.

Cover image source: NODO