The African Union (AU) has recently released a new Web3 policy framework, marking a significant step in the continent's adoption of blockchain technology and decentralized applications (DApps). The framework aims to create a conducive environment for innovation and growth in the Web3 space, while potential risks and challenges.

The policy framework covers various aspects of Web3, including cryptocurrencies, smart contracts, and decentralized finance (DeFi). It emphasizes the importance of regulating the industry to protect consumers and ensure fair competition. The AU also recognizes the potential of Web3 to enhance financial inclusion, improve supply chain management, and promote digital identity verification.

The framework encourages collaboration between governments, the private sector, and other stakeholders to develop guidelines and regulations for Web3. It also calls for investment in research and development to better understand the implications of Web3 technology and its potential benefits.