Crypto asset trading platform, LBank and Kenyan-based AI and blockchain-powered venture incubator, Adanian Labs have partnered to grow number of developers in the ecosystem, with high prospects of launching crypto-block chain products to fix Africa’s challenges.
The two entities have committed to improve the information flow and learning around blockchain and cryptocurrency through monthly meetups dubbed ‘LBank and Adanian Crypto Days’, and a ‘Crypto Accelerator Program’ across Africa.
LBank Chief Executive Officer, Allen Wei, said the partnership will allow both LBank and Adanian Labs to engage in community building, education, and resource sharing in order to meet the growing demand for blockchain and cryptocurrency across Africa.
“The new partnership will accelerate Africa’s digital revolution by increasing blockchain developers who will drive the ecosystem. With this partnership, crypto and blockchain technology can play an increasingly significant role in helping African nations leapfrog in development,” said Wei.
LBank said it has pitched camp in the country to use it as a gateway to expand presence into Africa to tap into booming cryptocurrency and blockchain developments in recent years.
Adanian Lab Chief executive and Co-Founder, John Kamara, said that the partnerships will offer the vehicle for higher learning and ultimately realize the dream of the part Africa will play in the 4th Industrial revolution.
“We’ve put together a team to help establish and support the startups including project management and support focused solely on ensuring startups achieve their tasks and goals,” he said.
The ‘Crypto Accelerator Program’ will see many technology-based startups with a prototype that can be developed with a commercially viable product pitch in front of a panel of VCs and industry experts.
“We highly encourage submission of applications for the Crypto Accelerator Program, where we’ll align the successful applicants with a tech team within the company to build and work together on their solution,” Kamara added.
Africa’s crypto market increased in value by more than 1,200 percent between July 2020 and June 2021 according to analytics firm Chainalysis.
Kenya, South Africa, Nigeria and Tanzania, are leading with adoption rates that have propelled Africa as the third-fastest growing cryptocurrency economy worldwide.
Kenya leads the world in the share of overall crypto transaction volume coming from peer-to-peer.
