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Blog|News|BCAT Africa 2022 intends to raise crypto knowledge as more Africans turn to digital assets
Published June 1, 2022|1 min read

BCAT Africa 2022 intends to raise crypto knowledge as more Africans turn to digital assets

The Blockchain and Cryptocurrency Awareness Tour (BCAT) is a Binance-powered continuing awareness campaign that shares information and attempts to create a strong crypto community across Africa. The tour is scheduled to take place in June. By targeting university students, mainly in the southeast of Nigeria, the campaign aims to encourage crypto adoption among Nigerian youth, the country's largest age group.

Binance established the BCAT tour in 2019, and the company claims to have touched over 60,000 Nigerians. The emphasis of this year's event is on play-to-earn, the Metaverse, and nonfungible tokens.

The main event will be held in the Amadeo Event Centre in Enugu, Nigeria, on June 4. The trip also includes stops in Uganda, Ghana, and Cameroon

BCAT Africa 2022 aims to meet the demand for a shared crypto discussion space, particularly in a region where most central banks have either banned or severely controlled cryptocurrencies, driving many Africans to peer-to-peer networks, which have gained popularity.

With a 1,200 percent rise in received crypto volume between 2020 and 2021, the rapid adoption of digital assets in Africa has attracted the interest of several corporations and organizations seeking a piece of this expanding industry.

The main event will be held in the Amadeo Event Centre in Enugu, Nigeria, on June 4. The trip also includes stops in Uganda, Ghana, and Cameroon.

Despite having the smallest crypto economy globally in terms of market penetration, Africa is embracing digital assets quicker as residents seek alternatives to a lack of payment gateways and poor financial infrastructure. According to statistics from Chainalysis, remittances, peer-to-peer payments, and savings have emerged as essential adoption drivers for local citizens. Like Argentina, many Africans see Bitcoin (BTC) and other cryptocurrencies as a means of escaping government policies and inflation.