The Year it was ππ
As we kick off the new year, it's exciting to see the continued growth and evolution of the web3 industry.
In the past year, we've seen the proliferation of new technologies like blockchain and artificial intelligence, which are revolutionizing the way we handle financial transactions and services.At the same time, traditional financial institutions are also adapting to the changing landscape, with many adopting fintech solutions to stay competitive. The result is a more diverse and innovative financial ecosystem that is better able to meet the needs of consumers and businesses.Did I mention that we had alot of fundings towards Africa last year.
Β I wanted to take a moment to reflect on the past year .There have been a number of achievements in the adoption and development of web3 technologies in Africa:π
M-Pesa: A mobile money transfer service that has helped to expand financial access in countries such as Kenya and Tanzania and Ethiopia.
Flutterwave: A payment processing company that has helped to facilitate e-commerce and digital payments in Africa.itΒ has raised over $20 million in funding from investors such as Greycroft and Green Visor Capital.
Paystack: A payment gateway that has enabled businesses in Africa to accept online payments and expand their customer base.they have raised over $20 million in funding from investors such as Visa and Stripe.
Cellulant: A digital payments company that has helped to facilitate electronic transactions in multiple African countries.Recently Started Expansion to South Africa.Cellulant Ltd., a Kenyan payment-services provider, is starting a South African business after months of testing the market and is looking to wrap up fundraising for further expansion to the Middle East and UK.
Kenyan Web3 Startup Nuzo Launched a Blockchain-powered eCommerce for Africa: Nuzo users earn Nuzo Coins when they buy and sell online and these Coins increase in value as the marketplace grows. Nuzo Coins are powered by the mobile-first, carbon-negative Celo blockchain and can be redeemed for buy goods, airtime, and bill pay. After launching in June, Nuzo already has 40,000 users and is growing rapidly.
INNOVATIONS THAT HAPPENEDπΒ
GPT (Generative Pre-trained Transformer)
This is a type of artificial intelligence model that was developed by OpenAI. It is a machine learning model that uses unsupervised learning to generate human-like text. It works by pre-training a large transformer model on a massive dataset of text, and then fine-tuning it on specific tasks such as language translation, summarization, or question answering.
GPT and other language models like it have a number of potential applications. For example, they could be used to:
Generate code: Language models could be trained on code examples and used to generate new code snippets or complete programs.
Summarize technical documentation: Language models could be used to quickly summarize complex technical documentation, making it easier for developers and other technical professionals to understand and use.
Write technical articles: Language models could be used to write technical articles or other content about technology, freeing up time for human writers to focus on other tasks.
For writers, language models like GPT could potentially be used as a tool to help generate ideas, outline content, or even write entire articles. However, it's important to note that while language models can produce human-like text, they are not able to fully replicate the creativity and nuance of human writing.
Β
A Recap of the investments into Web3 technologyπ
1.Meta partnered with Polygon to integrate NFTs.
2.Nasdaq announced a crypto custody service.
3.Google Cloud partnered with Coinbase to allow Web3 companies to make crypto payments.
4.Google launched a cloud-based node engine service for Ethereum developers and projects.
5.Twitter launched NFT integrations.
6.Polygon announced an official partnership to take blockchain into the music industry through NFTs.The CEO believes thatsΒ is well-positioned to spearhead the evolution of music through Web3.
6.Emurgo_ioΒ Invested in MomintNFT to Expand the Adoption of NFTs in Africa.
Β Whats one thing that you will remember? π€
I will probably remember 2022 for the collapse of FTX and the Ethereum Merge .
Overall, it has been an exciting year for web3 technologies. We have seen significant progress in the development and adoption of blockchain and decentralized applications (dApps), and it is clear that these technologies have the potential to bring significant benefits to a wide range of industries and use cases.
As we look ahead to the next year, I am confident that web3 technologies will continue to mature and make an even greater impact on the world. I am grateful for 2022 and look forward to seeing what the future holds.