Home » What Is Web 3.0 and Can It Help End Extreme Poverty?

What Is Web 3.0 and Can It Help End Extreme Poverty?

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Del Titus Bawuah is on a mission to activate and empower young people in Ghana and across Africa to use the Web3 ecosystem.

Bawau’s passion for opening up opportunities in the tech sector to young people is evident and was echoed at an event held in partnership with Global Citizen in September 2022. Global Citizen Festival: Accra.

Web3 Accra and Global Citizen, a company founded by Bawuah, hosted a symposium called Tech for Africa’s Development for young Ghanaians to demonstrate the potential of Web3 and creativity in its mission to end extreme poverty. has been held.

The symposium brought together “students and children with imagination and creative flair for the Web3 ecosystem. [to] They begin to build stories and memories that allow them to see this as a possibility moving forward.

The event encouraged young Ghanaians enthusiastic about the emergence of Web3 to tap into and hone their creative side. They were also introduced to the benefits his Web3 offers in advancing their creative careers.

However, to explain what this means, we must first explain what Web3 is. The Internet as we know it now is Web 2.0. It is centralized and a handful of companies control it. Forbes AfricaTech giants like Facebook (now Meta), Google, Apple, and Amazon have completely changed the way we transact, interact, and work. Web3 aims to change that.

The third generation of the World Wide Web is what we call Web 3.0. Unlike Web 2.0, this is a more decentralized application based on blockchain. In other words, this is the democratized version of the Internet. With Web 3.0 comes a virtual reality world called the Metaverse. NFTsWhen Crypto.

Young people interact with virtual reality technology at the Tech for Development Symposium in Accra in September 2022.
Image courtesy of Del Titus Bawuah

At the symposium, Bawuah brought together partners from Meridian Remote Teams, En Route and the Multi-Disciplinary Creative Agency. Creative influencers such as music producer Small God, fashion designer Kwak Bediako and musician Manny Musa. All took turns speaking, inspiring and mentoring the young people in attendance.

“My main focus here is to give young people opportunities in spaces they might have imagined but didn’t really know how to get into. I wanted to show them strong evidence.”

“Some of the young people here come from disadvantaged backgrounds. Unless there is a curated environment for them to access, they can’t get the right kind of inspiration to move forward.” “Me and you know it. It’s very important to inspire young children,” he continued.

With a background in real estate and banking, Bauer stumbled upon technology and the digital economy during the 2008 financial crisis. The catastrophe that hit the real estate industry hard meant he was forced to diversify.

“It became clear that our economic system was not stable enough, so I started looking into advanced technology. I started looking into the digital economy,” he said.

When the pandemic hit in 2020, Bawuah made clear that the world was moving towards a new order when it comes to technology, and how important it was to ensure Africa wasn’t left behind. He stressed the need for a deliberate attempt to focus on technology and to meaningfully engage Africa’s vibrant youth and harness all the prospects it can offer to lift them out of poverty. increase.

Digital technology and internet availability lead to better jobs and less poverty. world bank.

A young Ghanaian attends a Tech for Development symposium in Accra. September 2022.
Image courtesy of Del Titus Bawuah

Web3 and Africa

“Many amazing worlds have been created with virtual reality. Now designers literally put on headsets, and potential customers and potential students in different parts of the country wear them. , there are situations where you can get a whole: interactions and courses on how to design something,” Bauer told us.

Africa’s readiness to take advantage of this new internet order may seem skeptical given the myriad problems facing the continent. Access and Use of TechnologyNevertheless, the continent has shown time and time again that it is ready to embrace new technologies when the concepts are brought home and become more relevant and available.

On the other hand, Ghana has a growing technology sector.When Over 16 million With people using the internet, this West African country is well-positioned to benefit from technological advances. In addition to this Promotion of large-scale digitization by the Government of Ghana headed by the Vice President of the country.

Making Web 3.0 meaningful, friendly, and easy to use is what Bawauh is trying to do. This July, Web3 Accra brought together sort of leaders, industry experts and innovators from the Web3 space under one roof to put Ghana and Africa at the forefront of innovation. Bawauh said he will continue to bring young people’s attention to Web3. TEDx Accra event.

Bauer says Web3 could lift young people out of poverty if proper access is established.

As such, his company “has given underprivileged local youth access to basic technologies such as free tutorials from industry experts on Wi-Fi, computers and Web3 as part of its long-term vision to equip the next generation.” We are developing future-oriented innovation hubs across the country so that we can: for the digital age.”

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