Venom Partners With Kenya to Create a Blockchain Hub

Abu Dhabi, UAE, May 10th, 2023, Chainwire

The Venom Foundation has revealed its plan to join forces with the Government of Kenya to create a blockchain hub in Africa, which will be dedicated to advancing Web3 technologies and blockchain applications. This partnership aims to spur innovation across critical sectors, including financial systems, supply chains, agriculture, small and medium enterprises, and international trade, bringing benefits not just to Kenya, but the whole of Africa.

Currently, over 84% of Kenyans have access to banking and fintech services. However, establishing robust blockchain infrastructure as a long-term strategy could greatly enhance the value provided to citizens, unlocking new opportunities within the local economy, paving the way for fresh international trade avenues, and improving efficiencies in intra-African commerce.

The entry of the Venom Foundation into Africa showcases the continent's proactive stance on adopting Web3 and blockchain technologies, underscoring its commitment to innovation through practical implementation. By championing blockchain technology, Venom aims to empower local communities, build connections between traditional finance and the emerging web3 landscape, and stimulate economic vitality by facilitating smooth cross-border trade and transactions. The real-world benefits of these developments could include lower transaction fees, improved security and transparency, greater access to financial services, quicker settlement for international deals, and the creation of fresh investment prospects through the tokenization of assets. Such advancements have the potential to significantly bolster economic growth and inclusion across Africa.

The blockchain hub will serve as a pivotal center for creating partnerships with cutting-edge companies, promoting knowledge exchange, networking, and collaboration among vital members of the blockchain community, including projects, entrepreneurs, and government representatives in Africa. Venom is poised to provide essential tools and resources to aid African nations in laying a strong groundwork for their digital evolution. This encompasses blockchain applications for supply chain management, land registration, electoral systems, asset tokenization, and other critical areas where blockchain can deliver substantial improvements. The ultimate goal of these initiatives is to enhance transparency, streamline operations, and establish trust across multiple sectors throughout the continent.

Christopher Louis Tsu, the Chief Technology Officer of Venom Foundation, stated, 'Africa possesses abundant natural resources and human talent. By introducing next-generation blockchain technology to the continent, we empower our people, enabling Kenya and many African nations to harness their resources and engage in competitive global markets.'

The Kenyan government has voiced its excitement regarding the collaboration. Moses Kuria, the Cabinet Secretary for Investments, Trade and Industry, remarked, 'We are eager to partner with the Venom Foundation. This initiative marks our commitment to embracing next-generation technology and advancement in the financial and technological landscapes globally. We trust that the creation of this blockchain hub will spark further innovations across diverse industries, positively impacting our citizens both locally and internationally.'

Venom Foundation operates under the regulations of the ADGM and accelerates the progress of global Web3 initiatives. This decentralized network is established within the Abu Dhabi Global Market (ADGM), which acts as a haven for investors and financial service entities, positioning Venom as the world's pioneer compliant blockchain, offering both authorities and companies the flexibility to innovate and grow.

About Venom Foundation

Various firms have developed a range of in-house decentralized applications and protocols on the Venom blockchain. With features like dynamic sharding, minimal fees, rapid transaction speeds, and exceptional scalability, Venom has the capacity to serve as the foundational infrastructure for a vast ecosystem of Web3 applications, capable of handling ultra-fast transactions and infinite scalability to cater to an ever-expanding user base.

For further details regarding the Venom testnet launch, please visit:

To learn more about Venom Foundation, please check: Website

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