Web3 is an Evolution in Emerging Markets, Says Igor Kucherenko

Co-founder of HitBit Pro and Head of Pateplay Africa believes that Web3 is a revolution in emerging markets, allowing people to safely make payments and preserve capital.

With the current US administration showing vocal support for stablecoins and an interest in digitizing the US Dollar, the focus of the crypto narrative is returning to the fundamentals of crypto as a way to store and transfer value and, of course, make payments.

According to a Consensys report, emerging markets are embracing cryptocurrency as a way to fill some of the need for financial services. The report relates that emerging markets such as Nigeria, India, and South Africa leading the way in blockchain adoption.

The report states: “Over half the population in Nigeria (84%), South Africa (66%), Vietnam (60%), the Philippines (54%) and India (50%) report owning a crypto wallet ...