Binance Smart Chain, a division of cryptocurrency exchange Binance, has announced the creation of a $1 billion fund. With the help of the fund, the rise of electronic assets and blockchain technology will be pushed forward even faster. Investments in decentralized computing, gaming, artificial intelligence, and financial services will get a total of $500 million to help them develop and prosper. In addition to having over one million daily active users spread over 900 decentralized apps, BSC is one of the biggest crypto ecosystems in existence.
It's hard to transfer money between African countries. The Ghanaian king settled a bill with a Nigerian attorney. His experience highlights a systemic problem impeding Africa's economic growth: high transaction costs and inconvenience. 15% of all imports and exports occur between 55 African countries. 60% of Asian trade is within Asia. 70% in EU. The difficulty of international payments hinders African trade. There are also high tariffs, long border procedures, and congested roads. Proponents of AfCFTA say easing trade restrictions will boost trade, FDI, and economic growth. 50 million people will be lifted out of extreme poverty by 2035 due to the accord's positive impact on real income, which is projected to rise 9.1%. Another issue: In Africa, currency values fluctuate. From July 2021 to 2022, Ghana's currency fell from 6 to 8. Volatile currencies make financial transactions more costly and risky. To overcome these problems, PAPSS facilitates financial transactions ...
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