Component 2/4: Expanding Cardano in Africa: Uncovering Growth and Investment Opportunities

[GENERAL] Name and surname of main applicant

Eduard Peris Deprez

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Incorporated)

[GENERAL] Co-proposers and additional applicants

Raquel Suárez Domínguez

Helena Rong

Jean Gab Audebert-Larochas

Melisa Akumu

Merit Obeta

Joan De Ramón Brunet

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

8

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

Conducting in-depth research and key stakeholder education to enhance understanding and adoption of Cardano in Africa's leading markets.

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

No

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

No dependencies

[GENERAL] Will your project’s output/s be fully open source?

Yes

[GENERAL] Please provide here more information on the open source status of your project outputs

The methodology and full report will be open and shared.

[METADATA] SDG rating

8 - Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

9 - Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation

10 - Reduce inequality within and among countries

17 - Strengthen the means of implementation and revitalize the Global Partnership for Sustainable Development

[SOLUTION] Please describe your proposed solution

Understanding the Problem:

Our initiative addresses the underutilization of blockchain technology in strategic African markets, mainly focusing on the Cardano platform. Despite Africa's vibrant technological landscape and substantial investments in blockchain startups, there remains a significant gap in the adoption and practical application of blockchain technologies, particularly Cardano. This gap largely stems from a lack of understanding and engagement among key stakeholders and a need for specific training to develop beyond junior coding levels.

Growing blockchain funding and investments:

The African blockchain landscape has grown substantially, with African blockchain startups raising $474 million in 2022, a 429% increase from the previous year. This indicates rising confidence in the potential of blockchain to drive financial independence and infrastructure development in Africa. Additionally, there was a 12% increase in the overall number of blockchain deals across diverse sectors in Africa in 2022, accounting for a 15% share of all venture funds in Africa. Cardano-related startups should leverage this momentum by positioning themselves as innovative solutions capable of addressing unique African countries that are exploring blockchain to achieve financial independence and improve infrastructure. Cardano’s technological advantages, such as low transaction fees, high scalability, and interoperability, make it an ideal platform for startups offering solutions in these areas. Highlighting specific projects that have successfully utilized Cardano to drive local development can be a powerful narrative that attracts further investment. African challenges include financial inclusivity, governance transparency, and supply chain efficiencies.

The emergence of blockchain unicorns and geographic concentration:

Africa has recently seen the emergence of its first blockchain unicorns, signaling the growing maturity of its blockchain ecosystem. However, there's a noticeable geographic concentration of blockchain funding, with Seychelles and South Africa accounting for a significant share, while countries like Nigeria, although leading in the number of deals, lag in deal value. This demonstrates the potential and the uneven distribution of blockchain technology's impact across the continent.

Strategic Approach for this proposal:

Our approach is research-driven and educational, aimed at harnessing the full potential of Cardano to address pressing socio-economic needs across Africa. Recognizing the uneven distribution of blockchain advancements, with countries like Nigeria showing high engagement yet lagging in deal values, our solution will focus on tailored educational programs and comprehensive market analyses. By fostering knowledge and building capacity, we aim to align Cardano's offerings with the local needs and capabilities of the regions of Kenya, Nigeria, and South Africa.

Engagement:

Our project leverages connections and insights from previous blockchain-focused events and engagements in Kenya, Nigeria, and South Africa. These regions represent key markets where we have built a substantial network of developers, enthusiasts, and stakeholders. By collaborating with local governments, educational institutions, and businesses, particularly in areas with active blockchain projects, we aim to cultivate a well-informed community that can drive the adoption of Cardano.

Aspects of Our Solution:

Our solution integrates in-depth research with proactive stakeholder engagement and education tailored to African contexts. This dual approach ensures that our interventions are data-driven and responsive to the specific needs of the communities we aim to serve.

Demonstrating and Proving Impact:

• Increased Awareness: Track engagement metrics from workshops, seminars, and digital content that explain Cardano’s capabilities.
• Blockchain Adoption Rates: Monitor the uptake of Cardano blockchain technology in targeted markets, measuring the number of startups and projects that adopt Cardano.
• Stakeholder Feedback: Collect and analyze feedback via surveys, interviews, and focus groups with project participants, local businesses, and community leaders to assess the effectiveness of the educational initiatives and technology implementation.

Case Studies and Success Stories:

Empowa: A real estate platform that uses Cardano blockchain to facilitate affordable housing projects in Africa.

• Impact: Document the number of projects initiated, houses built, and the improvement in affordable housing accessibility. Highlight the role of Cardano in ensuring transparency and trust in transactions.

World Mobile Token: This project uses blockchain to expand mobile network access in remote areas of Africa, connecting the unconnected.

• Impact: Evaluate the expansion of network coverage, increased users accessing mobile services, and subsequent economic benefits. Showcase how Cardano's blockchain facilitates a sustainable model for mobile connectivity.

WADA Community Hub Models: WADA empowers African communities by providing education and fostering blockchain projects.

• Impact: Illustrate how these hubs have led to increased digital literacy, community-led blockchain projects, and partnerships that leverage Cardano’s technology for local impact

Target population:

Our primary target groups are technology developers, local businesses, policymakers, and educational institutions in Kenya, Nigeria, South Africa, and other potential countries. These stakeholders will better understand practical pathways to leverage Cardano for economic development and innovation.

Significance to Cardano:

With all the efforts of Cardano companies in Africa in the last years, this project is crucial for expanding Cardano’s footprint and demonstrating its utility across diverse global markets. By increasing Cardano's adoption in these strategic African markets, we contribute to its worldwide recognition and usability, showcasing the platform’s scalability and adaptability to various socio-economic contexts. The successful implementation of our solution will not only enhance Cardano’s value but pave the way for more inclusive financial systems in Africa.

For a detailed overview of how this initiative aligns with our broader strategy for the Cardano ecosystem, please refer to our presentation, 'Unified Vision for Blockchain Empowerment: A Multi-Faceted Approach to Advancing Cardano’s Global Impact.' This document outlines our comprehensive approach to integrating these projects into a unified strategy that maximizes impact across multiple domains. While each proposal is designed to be effective independently and can be voted on separately, they are not binding. However, they create a greater synergistic impact when implemented together, enhancing their overall effectiveness and contribution to the Cardano ecosystem.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

Value to the Cardano Community:

The success of our project will significantly enhance the visibility and utilization of Cardano in key African markets. By increasing understanding and facilitating the adoption of Cardano, we contribute to the growth of the global Cardano ecosystem. Our project will provide:

• Market Insights: Deliver detailed analysis of how Cardano is used in different African contexts, highlighting cultural, economic, and technological factors influencing adoption.
• Strategic Expansion and Growth Opportunities: Identify sectors and regions ripe for Cardano’s expansion, aiding in targeted and effective strategic planning.
• Partnership Potential: Forge new local and international partnerships, facilitating strategic alliances that expand Cardano’s network and influence.
• Community Building and Network Strengthening: We foster a more inclusive and diverse Cardano network by engaging with local developers and businesses, supporting community-led growth and innovation.

Measuring Impact: Our project's impact will be measured using both quantitative and qualitative methods:

Quantitative Metrics:

• Adoption Rates: Track the increase in users and transactions involving Cardano in the target countries.
• New Projects Initiated: Monitor the number of new initiatives or startups using Cardano due to our outreach and education.
• Investment Inflows: Assess the capital invested in Cardano-based projects, reflecting market growth and investor confidence.

Qualitative Assessments:

• Stakeholder Feedback: Collect and analyze feedback from local businesses, developers, and policymakers about the project's influence on their use and perception of Cardano.
• Success Stories: Document case studies where Cardano has significantly impacted local communities or businesses.
• Community Engagement Levels: Evaluate the engagement and activity within local Cardano communities, including participation in events and interactions on digital platforms.

Sharing Outputs and Opportunities: We are committed to transparency and collaborative growth. Outputs and opportunities arising from the project will be shared through:

• Public Reports and Whitepapers: Release detailed reports containing market analysis, success stories, challenges, and strategic recommendations for stakeholders in the blockchain ecosystem.
• Workshops and Webinars: Host educational sessions to disseminate insights and encourage knowledge sharing among the Cardano community.
• Community Forums and Meetups: Organize local community forums or meetups in regions where Impact Plus has a strong presence, facilitating networking and collaborative discussions.
• Ongoing Engagement: Maintain active communication with the community through periodic updates, participating in blockchain and fintech conferences to present our findings and engage with a broader audience.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

Impact Plus has a robust presence in the blockchain ecosystems of Nigeria, Kenya, and South Africa, having successfully organized a significant number of events and initiatives over the past two years. These efforts have enhanced our reputation and deepened our understanding of these markets' specific needs and challenges. Throughout these engagements, we have built a substantial database of nearly 2,500 participants, encompassing developers, business leaders, and blockchain enthusiasts, which underscores the breadth and depth of our community engagement.

Our successful prior research initiatives demonstrate our team's ability to execute this project effectively. We carried out significant research projects such as 'Blockchain for International Development and Humanitarian Cases: Deep Dive' for UK Aid and Frontiers Technology Hub and 'Blockchain in Sub-Saharan Africa: Beyond Digital Currencies,' commissioned by the Ethereum Foundation. These studies provided valuable insights into adopting and applying blockchain technology across various sectors within African markets, particularly in Nigeria, Kenya, and South Africa. This foundational research has equipped us with the knowledge and frameworks to adapt and apply to the Cardano ecosystem, ensuring tailored and impactful project implementation.

Validating Feasibility: To ensure the feasibility of our approach for the Cardano project, we will leverage the lessons learned from our previous Ethereum project, adapting our methodologies to the unique aspects of Cardano and the specific contexts of the African markets we are focusing on. Our financial management protocols—emphasizing budget transparency, regular reporting, and effective fund allocation—are designed to mirror the structured approach that contributed to our past successes.

Additionally, our team's involvement in blockchain research commissioned by the UK's Foreign, Commonwealth & Development Office (FCDO) via the Frontiers Technologies Hub has significantly informed our approach. This collaboration focused on assessing innovative technologies in development contexts, demonstrates our team's ability to blend cutting-edge technology with impactful development strategies. The insights gained from this research are crucial for executing projects that require a harmonious blend of technological innovation and development work.

Trust and Accountability Measures: 

• Regular Stakeholder Updates: We commit to providing regular updates to all stakeholders, including detailed progress reports and financial statements.
• Independent Audits: To further enhance trust, we will periodically engage an independent auditor to review our financials and project outcomes.
• Stakeholder Engagement: Continual engagement with local partners and communities to ensure that project goals align with local needs and that any adjustments are made transparently.

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

Milestone 1: Research and Market Analysis Completion

Description: Conduct detailed market analysis and stakeholder mapping to understand the current landscape of blockchain technology and Cardano's potential in Africa:

Milestone output(s)

• Comprehensive research report on Cardano’s current adoption, barriers to further adoption, and potential areas for growth.
• Detailed stakeholder map identifying key players in the blockchain ecosystem across the target markets.

Acceptance criteria 

• Submission of a detailed research report covering all specified areas.
• Validation of data sources and methodologies used in the report.
• Stakeholder review and approval of the research findings.

Milestone 2: Educational Program Development and Initial Deployment

Description: Develop and deploy educational programs tailored to the specific needs and contexts identified in the research phase. Initiate workshops and webinars to educate and engage local developers, businesses, and policymakers.

Milestone output(s)

• Research and collaboration with content providers in the Cardano ecosystem, such as Cardano Foundation Academy, Emurgo Academy, IOG, as well as content already used in Africa (i.e. by the Accra developers hub)
• Educational strategic programs tailored to the needs identified in the research phase were developed. Initial workshops and webinars were conducted in at least two target countries.

Acceptance criteria 

• Educational content vetted and approved by local educational authorities and Cardano development experts.
• Execution of at least three workshops or webinars in each target country, with documented attendance and positive participant feedback.

Strategic Partnership Formation and Community Building Initiatives

Description: Establish strategic partnerships with local businesses, educational institutions, and government bodies to support Cardano’s integration into relevant projects and initiatives.

Milestone output(s)

• Formal agreements with at least three key stakeholders in each target country.
• Establishment of active community groups to support ongoing Cardano development and adoption.

Acceptance criteria 

• Signed agreements or MoUs with key stakeholders supporting the project's goals.
• Active community groups are documented with regular engagement and meeting records.

Project Completion Report and Impact Video

Description: Compile a comprehensive project completion report and produce a video highlighting the project’s successes and impact on local adoption of Cardano.

Milestone output(s)

• Comprehensive final project report detailing all project activities, outcomes, and stakeholder feedback.
• Professional quality video showcasing project highlights and testimonials from participants and stakeholders.

Acceptance criteria 

• Final report and video approved by the project oversight committee.
• Successful dissemination of the report and video, achieving significant reach and engagement metrics across various platforms.

[RESOURCES] Who is in the project team and what are their roles?

Eduard Peris - CEO & Founder

Eduard holds a PhD in War Studies from King’s College London and a Master of International Affairs from Columbia University. He is the Managing Director of the Blockchain for Impact Fund and the founder of the GeoAnalytics Center, a tech-for-good organization based in the Sahel. With over 15 years of African experience, Eduard has worked on projects funded by USAID and USIP. Linkedin

Raquel Suárez Domínguez- Senior MEAL Manager

Raquel is an expert in Monitoring and Evaluation, specializing in knowledge transfer and accountability. With twenty years of work experience with international organizations, she has successfully set up MEAL systems in various countries worldwide. She is an expert in Data Science, Programming, Python, Gender and Inclusion. Linkedin

Helena Rong - Thought Leadership Manager

Helena is a PhD candidate at Columbia University and a former fellow at Harvard Kennedy School’s Belfer Center. Her research centers on using emerging technologies, particularly AI and blockchain, to design and govern the built environment. Linkedin

Jean Gab Audebert-Larochas - Advocacy & Compliance Manager

Jean is a former political advisor at the European Parliament and a senior advisor in advocacy. Recognized as an expert with in-depth knowledge of French and EU players, including the EU Commission, EU Parliament, EU Council, think tanks, consumer organizations, and trade associations. His expertise extends to navigating intricate legislative processes, particularly in Web3. Linkedin

Melisa Akumu - Country Officer Kenya

Melisa boasts years of experience driving large-scale cloud adoption and digital transformation for leading enterprises. She excels in collaborating with business leaders to articulate how technology can drive business innovation and transformation. She successfully coordinated technology for impactful social initiatives during her tenure at the World Food Programme. Beyond her strategic roles, Melissa is also a proficient coder. Linkedin

Merit Obeta - Country Officer Nigeria

Merit holds a bachelor’s degree in political science and is a seasoned community manager with expertise in overseeing various Blockchain communities. As a Pan African advocate, she strongly champions using Blockchain to advance Sustainable Development Goals (SDGs). Her passion for driving social impact through blockchain technology motivated her active involvement in SDGs community services, dedicating her efforts to providing relief materials to internally displaced persons (IDPs) in Nigeria. Linkedin

Joan De Ramón Brunet - Head of Growth

Joan has been an experienced professional in the crypto and ReFi sectors since 2018 and 2022. With a focus on Web 3.0 impact projects, he has excelled as a Head of Growth and Project Manager, driving initiatives that leverage blockchain for social and environmental impact. Joan's work embodies the intersection of technology and sustainable development. Linkedin

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

Our proposal, "Expanding Cardano in Africa: Uncovering Growth and Investment Opportunities," represents significant value for money for the Cardano ecosystem by leveraging strategic investments to catalyze widespread adoption and integration of Cardano in key African markets. Here is how the costs align with delivering substantial benefits:

Justification of Costs:

• Team Expertise: The team comprises highly specialized professionals, including a Senior Research Advisor, Project Manager, and Technical Blockchain Consultant. Each commands a salary that aligns with international market rates in the blockchain and international development sector. This strategic decision to offer competitive salaries is essential for recruiting individuals with the expertise and experience necessary to drive Cardano adoption effectively.

Methodology and data collection: 

• Senior Research Advisor: This pivotal role involves leading the development and execution of the project’s research methodology. The advisor is responsible for designing the data collection frameworks, gathering accurate and relevant data across multiple African markets, and analyzing this data to derive actionable insights.
• Technical Blockchain Consultant: This consultant supports the technical aspects of data collection, ensuring that blockchain-specific factors are accurately captured and interpreted. This role is critical for assessing Cardano’s technological deployment and identifying technical barriers to its adoption.

Strategic Roles: The Project Manager ensures that the methodology and data collection processes are implemented effectively. This position involves rigorous oversight and coordination of the project's multifaceted activities, ensuring that all research activities align with the project's goals and timelines.

Operational Expenses: Other costs, such as finance and general operational expenses, are minimal, ensuring that the bulk of the budget is directed towards impactful activities.

Value Delivery:

• Capacity Building: Through workshops, training sessions, and direct engagement, we aim to build enduring skills and knowledge in the local workforce, enhancing the sustainable use of blockchain technology for social and economic development.
• Strategic Expansion: By identifying and engaging key growth areas, the project will open new pathways for Cardano’s applications, directly contributing to its ecosystem expansion and value creation through new use cases.
• Community and Ecosystem Development: Our efforts to form strategic partnerships and community groups will foster a robust, self-sustaining Cardano community in Africa, which is crucial for long-term success.

Cost Effectiveness:

• Leveraging Existing Networks: By utilizing our existing contacts and networks, we reduce the need for preliminary groundwork, thereby decreasing potential costs.
• Efficient Use of Funds: The budget includes a 20% buffer and accounts for taxes, ensuring that unexpected expenses do not hinder project progress. Regular financial audits and transparent reporting will maintain accountability and trust with all stakeholders.

Project Impact Relative to Cost: The projected outcomes, including increased adoption rates, strategic partnerships, and enhanced community capabilities, offer a high return on investment when considering Cardano's potential to capture value in the rapidly growing African digital economy.