CV Labs, a Swiss venture capital firm with operations across the African continent, said it had entered a partnership with Polygon to introduce African startups and businesses to the Polygon ecosystem.
Polygon is a decentralized Ethereum scaling platform that enables developers to build scalable, user-friendly dApps with low transaction fees without sacrificing security.
The partnership is yet another step towards Polygon’s expansion on the continent. The company already supports local startups, runs hackathons, and conducts educational activities across Africa, either directly or through its social impact arm, Impact Plus.
In September 2022, Polygon announced its inaugural Web3 Bootcamp for Africans, an 8-week intensive program that combines an educational course and a hackathon at the end. The bootcamp was seen as a way to introduce Polygon’s technology to Africans and help to grow Ethereum and blockchain technology.
“Polygon and CV Labs believe Africa has the talent and infrastructure to become a global blockchain hub and is looking forward to supporting enterprises, startups, NGOs, and any actors interested in the disruption blockchain can bring.” – Polygon
The two organizations said they are bullish on Africa, thanks to its large talented pool of entrepreneurs and the potential of distributed ledger technology to introduce transparent ways to transact and cut down on corruption and fraudulent activity.
However, this partnership is also looking beyond startups and businesses, intending to liaise and start discussions with governments on the benefits of investing in startups and implementing blockchain technology.
“Polygon will help African startups gain access to resources and funding, enabling them to scale their businesses and create jobs. Polygon will further work with CV Labs to enable corporate and government bodies to experiment with blockchain technology to gain experience.” – Polygon
Polygon is also working with government officials, regulators, and other stakeholders to create an enabling environment for blockchain technology to thrive.
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