Four-Step Strategy of Coinbase for African Developers
In a significant move for the African blockchain market, Damilare Aregbesola, the West Africa Regional Lead at Coinbase, is focusing on stablecoins as a promising trend. Aregbesola believes that by addressing core money movement problems with stablecoins and leveraging blockchain technology, Africa can overcome its financial challenges.
Aregbesola's strategy involves promoting financial inclusion, empowering local blockchain projects, and facilitating access to global markets. To achieve this, Coinbase is offering a four-step program called the Base Batch Workshop. This full startup support program is designed to help West African builders take their projects from ideas to funded, sustainable products.
The program consists of four stages: education, buildathon, incubator, and global demo day. The education stage provides workshops on building on blockchain for both technical and non-technical people. The buildathon stage allows participants to apply what they've learned and build actual products. The top teams from the buildathon enter a four-week incubator with world-class mentors. The global demo day provides an opportunity for teams to pitch their products to investors for up to $1 million in funding.
In addition to financial support, builders can access non-financial support through Coinbase. This includes access to Coinbase's vast distribution network, marketing opportunities through Base and Coinbase channels, and the potential for their projects to gain visibility on a global stage through community teams across the world.
Moreover, Aregbesola is concerned about Africa's tendency to jump on new tech trends before fully exploring or benefiting from the last one. He advocates for a focus on stablecoins to ensure that Africa fully exploits the potential of this technology before considering other trends.
Examples of stablecoin projects in Africa include Azza and Paycrest. Stablecoins seem to have found a strong product-market fit in Africa, addressing financial complications in the region. By facilitating connections between builders in West Africa and those in other parts of the world, Coinbase can help these projects grow and thrive.
In summary, Aregbesola's role at Coinbase provides builders in West Africa with the backing of a global crypto giant. His strategy aims to create a clearer pathway for African builders to plug into global opportunities and infrastructure, ultimately driving financial inclusion and economic growth in the region.
[1] https://www.coinbase.com/base [2] https://www.coinbase.com/blog/introducing-base-our-ethereum-layer-two-network [3] https://www.coinbase.com/ventures [4] https://www.coinbase.com/news/coinbase-announces-west-africa-expansion-with-damilare-aregbesola-as-west-africa-regional-lead [5] https://www.coinbase.com/blog/damilare-aregbesola-joins-coinbase-to-lead-west-africa-expansion
- Damilare Aregbesola, the West Africa Regional Lead at Coinbase, is emphasizing stablecoins as a potential trend for Africa's blockchain market.
- Coinbase's Base Batch Workshop, a four-step program, offers West African builders funding, mentorship, and global exposure to help take their blockchain projects from ideas to reality.
- Aregbesola is careful to ensure that Africa fully exploits the potential of stablecoins before exploring other trends, as he believes they offer a promising solution to financial complications in the region.
- Notable stablecoin projects in Africa include Azza and Paycrest, which have found a strong product-market fit in the region.
- By connecting builders in West Africa with their counterparts in other parts of the world, Coinbase can facilitate the growth and thrive of stablecoin projects in Africa, driving financial inclusion and economic growth in the region.
