Crypto Biz: DID you see what Africa is doing with Web3?

cointelegraph.com:

If you’ve spent any time reading about blockchain and Web3, you know that this industry is filled with big buzzwords and half-baked concepts. But, concepts such as decentralized identity services, or DIDs, bring real meaning and utility to Web3. If you haven’t yet wrapped your mind around DID, it refers to a self-owned, independent identity that enables trusted data exchange. In other words, it puts digital identity management and administration directly in your hands instead of some third party’s. 

In this week’s Crypto Biz, we take a look at a Web3 partnership designed to bring DID-powered payment solutions to Africa. We also chronicle Maple Finance, the European Central Bank and Nasdaq.

Is Web3 even possible without decentralized identity services, or DIDs? It depends on who you ask. For Web3 payment solutions Fuse and ChromePay, DIDs will play an essential role in expanding access to the decentralized internet, especially in places like Africa. This week, the companies announced a new partnership to bring a suite of DID-powered Web3 payment products to the African continent. Specifically, ChromePay will integrate the Fuse blockchain, allowing users to access both traditional and blockchain-based payments directly on their mobile devices.

Crypto is booming in Africa! A new report reveals venture funding for African cryptocurrency startups grew 11x in 2022. (Reporting via @ezrareguerra) https://t.co/aJwcPQSr9V

Crypto lending platform Maple Finance is showing no signs of slowing down amid the bear market. The company announced this week that it would provide up to $300 million worth of secure debt financing to Bitcoin (BTC) mining firms. Why is this important? Well, for starters, the loan could help miners stay afloat