Web 3.0 Africa (Part 2)

Why Blockchains are the right fit for Africa

“Web-1.0 = read. Web-2.0 = read/write. Web-3.0 = read/write/own”.

This is the mental model articulated by Chris Dixon, Head of Crypto Investments at the investment firm Andreessen Horowitz. His firm recently closed a $4.5b fund to invest in this sector, arguably making him the the most important capital allocator in this space. In short, the first iteration of the internet decentralised information. The second decentralised publishing. The third will decentralise ownership.

I’ve previously written about how web 3.0 can help Africa overcome its general political, economic and technology deficits. I’ve also specifically explored how web 3.0 technologies can help Africa leapfrog its broadband internet penetration hurdles - through the use of decentralised technologies that allow for people to monetise their existing internet capacity via ISP-as-a-service platforms.

Blockchain technologies combine considerations of game theory, economics, governance, and network effects to produce mechanisms…