Can Oduwacoin Be The First Altcoin With Its Own Blockchain To Break Out Of Africa?

Oduwacoin is a notable contender in the crypto space -all thanks to its native blockchain, and pioneering status of being the first African native cryptocurrency.

Created by a pan-Africanist, Bright Enabulele (Nana Obudadzie Oduwa I) in 2017, the crypto has continued to attract attention not as another run-of-the-mill altcoin, but as a potential game-changer, reminiscent of the early days when Bitcoin disrupted the financial status quo.

Much like Bitcoin’s historic breakthrough, the first altcoin from Africa with its native blockchain is now attempting mass adoption, and a significant number of users beyond the shores of the continent, and its diaspora communities.

Oduwacoin’s emergence echoes Bitcoin’s pioneering spirit, blending technological innovation with a bold vision for financial empowerment. While it was designed to address the challenges associated with the crypto created by Satoshi Nakamoto, the global cryptocurrency community watches with a discerning eye, contemplating whether the African-born digital asset will live up to the hype and redefine the trajectory of decentralized finance.

Oduwacoin at a glimpse

Oduwacoin, with a market capitalization of over $3 million, last traded at $0.24 in the market. As the first pan-African cryptocurrency, it has garnered widespread acceptance from various industry players. Notably, it has become a preferred choice among realtors in Nigeria, the country with the largest population in Africa, as well as businesses like Dollar Store and IE Flea Market in California.

The cryptocurrency’s widespread adoption underscores its appeal and practical utility in facilitating transactions that transcend borders.

Its integration into Nigeria’s real estate market reflects its recognition as a reliable medium of exchange in a crucial economic sector. More so, Oduwacoin’s inclusion by Dollar Store and IE Flea Market in California underscores its versatility and global relevance.

Being a decentralized digital currency, Oduwacoin exemplifies its capability to transcend geographical boundaries, serving the needs of businesses and individuals alike. With a dynamic market presence and a growing user base, it remains a major player in the ever-evolving crypto industry.

The only African altcoin with its native blockchain

Oduwacoin, born from the fusion of cutting-edge technology and a vision for financial empowerment, traces its roots to Africa. Unlike other altcoins tethered to existing blockchains, Oduwacoin has boldly set its sights on independence, thereby functioning on its blockchain infrastructure.

The prospect of Oduwacoin having its blockchain raises eyebrows and expectations. Developing a blockchain is no small feat, it demands a robust technological framework, skilled developers, and a commitment to security. In this context, Oduwacoin’s success hinges on its ability to navigate the intricacies of blockchain development, fostering a resilient and scalable network that can compete on the global stage.

Contributing to Africa’s financial inclusion

One of Oduwacoin’s core tenets is fostering financial inclusion, a mission that resonates strongly in Africa, where a significant portion of the population remains unbanked.

AfricaNenda in partnership with Co-Develop, recently published a report that no less than 350 million people in Africa were excluded from the continent’s financial system. While this can be attributed to a series of factors, including transaction charges, Oduwacoin appears to have been designed to cover the lapses, and ultimately improve financial inclusion.

Upshot

In view of its existing infrastructures, market realities, and longevity, financial analysts, including this writer, believe Oduwacoin is the next big project to take Africa to center stage. Although the success of any cryptocurrency project lies in their community, Oduwacoin’s native blockchain advantage will play a pivotal role in fostering mass adoption and ensuring the sustainability of the project.

And as the Oduwacoin project evolves, it will not only shape the narrative of blockchain development in Africa, but also contribute to the global discourse on financial inclusion, innovation, and decentralized finance.