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Commodity tokenization is the economic aid Africa needs

Published 08/14/2023, 06:08 PM
Updated 08/14/2023, 07:40 PM

In my youth, amid Ghana’s cocoa farms, I walked with my grandfather, a soldier turned farmer. He shared how these beans fueled our nation’s pride and economy. As the digital age unfurls, I often wonder: Could the modern marvel of crypto tokenization be the change my grandfather and countless cocoa farmers need?

Despite their vast agricultural and mineral wealth, many African countries face issues such as limited access to global markets, unfair trading conditions, lack of transparency in transactions and susceptibility to market manipulation. These challenges hinder economic growth, perpetuate poverty and prevent many Africans from realizing their full potential.

Emmanuel Asamoah is the head of business development and partnerships in Africa for Bybit. He previously worked as a business development manager at Binance, Yellow Card and several other top Web3 companies globally and in Africa. He began his journey in the crypto space in 2017 when he was a student at the University of Ghana Business School.

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