Venom Foundation, a non-profit organization responsible for managing the development of the Venom blockchain, is elated to announce its partnership with the Kenyan Government to establish a blockchain hub in Africa.
This strategic partnership reportedly focuses on developing Web3 and blockchain technology applications that will help drive innovation in Africa. According to the Venom team, this partnership seeks to help grow key sectors, including supply chain, financial infrastructure, cross-border trade, and SMEs within Kenya and Africa.
Reportedly, the blockchain hub will act as a central point for future partnerships allowing like-minded investors, developers, and users to collaborate on various blockchain-based projects. Implementing blockchain infrastructure will also help create new international trade and investment opportunities, increase the value of the population, expedite settlement time for cross-border transactions, enhance security, transparency add efficiency to intra-African trade lines.
Commenting on the partnership, Christopher Louis Tsu, CTO of the Venom Foundation, stated:
“Africa is already rich in natural resources and human capital, by bringing next-generation blockchain technology to the continent will empower the people and help Kenya and many other African nations to capitalize on their assets and participate in new global markets competitively.”
In addition, the Venom Foundation hopes to empower African communities by creating a bridge between traditional finance and Web3. The blockchain hub will serve as a knowledge-sharing platform enabling key stakeholders such as government officials, projects, and entrepreneurs to come together and provide blockchain-based solutions. Notably, blockchain-based solutions include voting systems, land registries, tokenization of assets, and many more.
Moses Kuria, the Cabinet Secretary for Investments, Trade, and Industry in Kenya, also stated:
“We are excited to work together with the Venom Foundation. This collaboration signifies the stance that we are taking towards next-generation technology and financial and technological developments in the world. We believe that the establishment of this blockchain hub will catalyze further innovations in various industries, benefitting our people both nationally and globally.”
Operating under the jurisdiction of the Abu Dhabi Global Market, the Venom Foundation is dedicated to the development and launch of the Venom blockchain. The Venom blockchain is the first compliant blockchain offering scalable and secure real-world application solutions.
Just recently, Venom announced the launch of its testnet providing users and developers with the opportunity to test and debug dApp and blockchain protocols: this partnership and more show Venom’s dedication to its mission.