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Venom’s blockchain hub is also expected to attract a wide range of stakeholders, including developers, entrepreneurs, investors, and regulators.
Venom Foundation, which recently hit the news with its testnet launch and hackathon, has signed a Memorandum of Understanding (MOU) with the Kenyan government. This partnership is billed to help in setting up a blockchain hub in Kenya, focusing on the development of Web 3.0 applications.
As it was announced, the hub aims to promote the adoption and development of blockchain technology in Kenya and the wider African region.
Venom Unlocks Blockchain Potentials in Africa
Interestingly, the leading blockchain-based payment gateway provider aims to empower African communities, create a bridge between traditional finance and the Web 3.0 world, and stimulate regional economic growth by enabling seamless cross-border trade and transactions. It will also provide tools and resources to support African countries in laying a solid foundation for digital transformation.
Likewise, Venom’s blockchain hub in Kenya will provide a platform for developers, startups, and established companies to collaborate and innovate with blockchain technology. The hub will also offer training and education programs to help individuals and businesses understand the potential of blockchain technology and how to integrate it into their operations.
The minister of treasury in Kenya expressed his enthusiasm for the partnership. In his tweet, the partnership with Venom Foundation is a significant boost for Kenya and will drive further innovation in several industries, benefiting everyone both globally and nationally.
This partnership with @VenomFoundation through @venomafrica signifies Kenya's stance towards next-gen technology, financial and technological developments, and will catalyze further innovations in various industries, benefitting people both nationally and globally.
— CS Moses Kuria (@HonMoses_Kuria) May 9, 2023
Notably, Kenya is widely regarded as a leader in digital innovation in Africa, with a thriving fintech industry and a growing startup ecosystem. As such, the launch of Venom’s blockchain hub in the country will further cement Kenya’s position as a hub for digital innovation in the region. The partnership aims to promote efficiency, transparency, and trust across different sectors in the continent.
Venom’s blockchain hub is also expected to attract a wide range of stakeholders, including developers, entrepreneurs, investors, and regulators. The hub will provide a platform for collaboration and innovation, as well as an opportunity to explore the potential of blockchain technology in various industries in Kenya and the wider Africa region.
Venom Foundation Secures Strategic Partnership
Earlier in the year, the layer 1 blockchain firm teamed up with Hub71, a global tech ecosystem located in Abu Dhabi to provide enterprise-level solutions for startups and simplify blockchain adoption with a focus on the growth of businesses and acceptance of blockchain technologies in the MENA region and beyond.
The Venom Foundation collaboration with Hub71+ Digital Assets, an ecosystem dedicated to Web3 and Digital Assets seeks to complement the growth push for businesses. It aims to do this by helping with business development, digital asset regulation, blockchain adoption, and relevant technologies.
In a similar manner, Venom also entered a partnership with leading blockchain solutions provider DAO Maker to incubate Web 3.0 projects centered on delivering real-world use cases.