#WEB3,JOB CREATION POOL?
Web3 and Crypto Adoption in Africa
Africa is a continent with interestingly varying economic, political and social challenges that make it different from other regions when it comes to the adoption of Web3 and cryptocurrencies. However, Challenges are a recipe for innovation and growth. In this Blog, We take a look at the key challenges and windows of opportunities as well.
Web3 is a term used to describe the next generation of the internet, which is decentralized, open-source, and community-driven. The Web3 ecosystem includes blockchain technology, decentralized applications (dApps), and cryptocurrencies.
Unemployment is pretty much a problem in any region in the world but the scale of it in Africa screams a crisis. Africa is houses the world's youngest population, with 60% of its population below the age of 25. 10 million Africans enter the labor market each year but only three million jobs being created. According to the World Bank, youth unemployment in Sub-Saharan Africa reached 19.5% in 2020.
One of the key advantages of Web3 and crypto adoption in Africa is the potential for job creation. Web3-based projects offer a platform for African youths to participate in the global digital economy while generating income and access to financial services for the unbanked, Debanked and underbanked.
Some of the Web3 products that are doing well in Africa include:
Axie Infinity, a blockchain-based game that allows players to earn cryptocurrency by breeding and battling fantasy creatures.
Binance, a cryptocurrency exchange platform that offers access to a wide range of digital assets.
Mobox, a decentralized gaming platform that allows users to earn cryptocurrency by participating in games and tournaments.
As adoption of Web3 and cryptocurrencies in Africa gains momentum through the early phases, there is a growing trend towards digital innovation and entrepreneurship aided by increased internet penetration and the rise of mobile technology. This unearths the wrath of ambitious, previously untapped Human capital ready to pounce on these opportunities and this can only mean light at the end of the tunnel to the Economic Health of the continent. Below is a list of Web3 jobs
Technical roles:
Blockchain Developer: $100,000 - $200,000 per year
Smart Contract Developer: $120,000 - $200,000 per year
Solidity Developer: $120,000 - $200,000 per year
Frontend Developer for dApps: $80,000 - $150,000 per year
Backend Developer for dApps: $100,000 - $170,000 per year
Blockchain Solutions Architect: $120,000 - $220,000 per year
Non-technical roles:
Blockchain Project Manager: $90,000 - $150,000 per year
Community Manager for Blockchain Projects: $60,000 - $100,000 per year
Blockchain Marketing Manager: $80,000 - $150,000 per year
Blockchain Analyst: $70,000 - $120,000 per year
(Please note that these are approximate salary ranges and can vary depending on various factors such as location, experience, and company size.)
At CryptoHubKenya, we provide a pathway to Web3 ecosystem by educating, consulting and mentoring professionalism in the industry. We recently completed a 30 day web3 skill race workshop (find the report here) and look to enroll more in the spirit of onboarding competent communities in Web3. Join us and Build your Portfolio.
Here are some of the top web3 job websites:
Web3 and the process of crypto adoption can serve as a job creation pool, offering innovative solutions to the continent's TOP economic and social challenges. As the ecosystem continues to evolve, it is important for African entrepreneurs and innovators to explore the possibilities of this technology and harness its potential for the benefit of the continent.
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