The latest episode of the Frontier podcast tackled an important issue facing the growth of Web3 in Africa - building trust through self-regulation.

Across East Africa, mobile money has become a ubiquitous part of daily life. Services like M-Pesa, Airtel Money, and Tigo Pesa allow people to store and transfer funds easily via their mobile phones. But now, mobile money is colliding with a new technological revolution - Web3.

Earlier this month, the decentralized finance (DeFi) protocol Curve was exploited for nearly $600 million worth of stablecoins. This incident highlighted the ongoing risks and vulnerabilities in the fast-moving world of DeFi.

According to the report, Africa ranks among the top 20 regions globally in terms of cryptocurrency adoption, with Nigeria, Kenya, South Africa, Tanzania, and Ghana leading the way.

This year's Chainalysis Crypto Crime Report shows what went down in 2022 and that sanctions can be enforced on DeFi protocols. The report covers:

The narrative around crypto education in Africa can be summed up in one statement: "Go ye into Nairobi and make them disciples of Vitalik, Satoshi, and degens." While this strategy sounds energetic, the idea of making every young African a Crypto or Bitcoin maxi is a bull market-only strategy and not sustainable if we are serious about onboarding 500 million Africans to Web3.

The current buzz surrounding Africa's Web3 movement is often summarized in one enticing phrase: 'Africa is the next big thing.' While this statement appears optimistic, it overlooks the intricate realities of the continent's digital landscape and inadvertently undermines the tireless efforts of the communities and individuals shaping Africa's Web3 future.

A bi-monthly podcast, where we delve into the fascinating world of Web3 the future of money and finance in Africa.