Can crypto be used just like credit cards in global south? Africa shows the way – Firstpost

Despite having been around for quite some time, cryptocurrency is still a nascent field. It is often viewed as a financial sector limited to those with either deep knowledge or deep pockets.

The fact that almost all discourse around crypto has been so West-centric has not helped this perception.

But what if that wasn’t the case anymore? What if the Global South had its own trailblazer to look up to?

This is not a far-fetched idea. Africa is ready to cinch this position and lead the way.

The continent is now positioning itself at the forefront of the Web3 revolution, charting a path that diverges sharply from the deregulation-driven models of the West.

A different kind of regulation

The key, according to leaders like Del Titus Bawuah of Web3 Africa, is not to rebel against government institutions but to collaborate with them.

“A well-structured regulatory framework is better than no regulation at all,” Bawuah told Firstpost while speaking at the IdeasPod as part of the Raisina Dialogue 2025. “Neither crypto nor government can exist in isolation.”

Rather than stifling innovation, clear guidelines on taxation, compliance, and security could create an environment where businesses and consumers feel safe using crypto for everyday transactions.

It is a perspective that runs counter to the prevailing crypto ethos in much of the world, where many see government oversight as an impediment to innovation. But Africa’s digital finance pioneers are betting that a hybrid approach—one that fosters collaboration between policymakers and Web3 entrepreneurs—will provide the stability needed for long-term adoption.

Taxation, for instance, is a key concern in discussions with African central banks. “Governments need to reclaim revenue,” Bower notes. “Crypto adoption shouldn’t just benefit entrepreneurs– it should provide financial sovereignty to nations, allowing them to reinvest in infrastructure, education, and innovation.”

Building for inclusion, not just speculation

In places like Ghana, Web3 Africa has taken a hands-on approach, working alongside the Central Bank of Ghana to create a policy framework that supports cryptocurrency adoption without destabilising financial institutions. Unlike Western economies, where cryptocurrencies have often been perceived as speculative assets, the focus in Africa is on utility. The goal is to integrate blockchain technology into everyday transactions in ways that are as seamless as swiping a credit card or using mobile banking.

“Africans already use digital financial systems in their daily lives,” Bower explains. “Mobile money is the backbone of financial transactions on the continent. Crypto just needs to be the next logical step.”

Education as the foundation

One of the most radical elements of Africa’s Web3 strategy is its emphasis on education. Recognising that long-term adoption requires widespread digital literacy, Web3 Africa is working to integrate blockchain education into school curriculums. “We need to start now,” Bower insists, “so that in ten years, today’s students will be the creators, entrepreneurs, and professionals shaping the industry.”

The initiative is not limited to formal education. Web3 Africa has partnered with financial institutions to offer certification programs that help individuals and businesses navigate the crypto ecosystem. By providing accessible learning tools, the hope is to make blockchain technology an intuitive part of economic life.

Looking ahead, Bower envisions a future where cryptocurrencies are seamlessly embedded in Africa’s financial ecosystem. “We’ll see stablecoins facilitating trade, decentralized digital assets becoming the norm, and KYC (Know Your Customer) processes revolutionized by blockchain.”

Africa’s regulatory-first, inclusion-driven approach to Web3 could serve as a global model for how emerging economies can leapfrog traditional financial barriers while maintaining economic stability.