Venom Foundation has entered into a strategic partnership with the Government of Kenya through Venom Africa, with the goal of establishing a blockchain hub in Africa to promote the development of Web3 and blockchain technology applications.
The partnership will drive innovation in key sectors such as financial infrastructure, supply chain, agriculture, SMEs, and cross-border trade throughout Kenya and the entire continent.
By promoting the adoption of blockchain technology, Venom Foundation seeks to create a bridge between traditional finance and trade with the Web3 world, while also promoting regional economic growth by enabling seamless cross-border trade and transactions.
The blockchain hub will serve as a central platform for building partnerships with innovative companies in Africa and supply crucial resources and tools to support African countries in developing a solid foundation for digital transformation, including blockchain-based solutions for land registries, voting systems, and supply chain management.
The partnership aims to increase value for the population, create more opportunities for the Kenyan domestic economy, create new international trade routes, and add efficiency to intra-African trade lines.
The population will benefit from minimized transaction costs, enhanced security and transparency, increased access to financial services, expedited settlement times for cross-border transactions, creation of new investment opportunities through asset tokenization, economic development, and financial inclusion across the continent.