Hackathon Aims to Build Blockchain Infrastructure, Attract Investment to Africa’s Web3
Amid a lower in Web3 funding in Africa, the Hashgraph Affiliation says its not too long ago launched hackathon goals to assist construct a blockchain infrastructure that helps crypto companies and decentralized finance initiatives.
The Hackathon: A Everlasting Platform for Progress
Regardless of a vibrant and younger inhabitants—with 60% of Africans underneath the age of 25—the continent’s share of investments into Web3 startups has fallen from $474 million in 2022 to $122.5 million in 2024. To assist reverse this pattern, some business gamers, together with the Hashgraph Affiliation (THA), are working to construct a blockchain infrastructure that won’t solely increase crypto companies however foster decentralized finance (DeFi) and fintech initiatives.
Based on Kamal Youssefi, co-founder and government chairman of the Hashgraph Affiliation, the hackathon which the Swiss-based group launched in Might is likely one of the methods it hopes to bolster Africa’s crypto ecosystem. As beforehand reported, the hackathon, a joint initiative with the Exponential Science Basis, seeks to empower greater than 10,000 builders, college students, and entrepreneurs from 15 African nations.
In his written solutions, Youssefi advised Bitcoin.com Information that his non-profit group hopes to fund 50 or extra progressive initiatives from the contributors. THA can be dedicated to serving to the initiatives on their option to a profitable market launch, he added.
“The hackathon won’t be a one-off occasion, however might be expanded yearly. It’s going to type a everlasting platform for the event of the Web3 ecosystem within the 22 nations we’re supporting this yr and can even contain extra nations and continents within the coming years,” Youssefi stated.
On the hackathon launch, THA introduced the successful mission of the Hedera Africa Hackathon 2025 would obtain a $1 million prize, whereas all contributors would get entry to coaching sources from Hedera Academy. The profitable groups might be supplied with “custom-made enterprise constructing and tailor-made entrepreneurship packages” that fuse sensible enterprise acumen with hands-on technical help for the Web3 house.
Youssefi additionally disclosed that the preliminary dedicated prize pool has exceeded $1 million, and THA expects this quantity to extend even additional within the coming weeks. Moreover, the non-profit group can be working with a number of African governments and ministries answerable for digital transformation and administrative reform.
“We help them in implementing their technique, significantly within the areas of Web3 schooling {and professional} trainings, in addition to in establishing technical infrastructure and creating digital options. Our footprints embody Morocco, Nigeria, South Africa, Tunisia, Ivory Coast, and Kenya,” Youssefi stated.
A Dedication to Interoperability
Whereas THA’s main mission is to advertise the adoption of the Hedera Hashgraph distributed ledger know-how, Youssefi stated initiatives constructing on different protocols won’t be discriminated towards. To show this, he stated the Hedera Governing Council already meets repeatedly to determine synergies and search for potential strategic collaboration or joint mission engagement.
“We additionally imagine in interoperability and cross-chain options, and that sooner or later there might be totally different blockchain and DLT platforms that might want to work together seamlessly and be interoperable. We’re due to this fact open to any form of collaboration on this space,” Youssefi said.
