Web 3.0: What is it, why is Ghana leading the way, and what does it mean for you?

“Africa is ready for Web 3.0,” says Del Titus Bawuah, Chief Executive Officer and founder of Dao in Ghana called Ghana Unity Dao which is a Decentralised, Autonomous Organisation focused on funding & developing Web 3 in Ghana, an entrepreneur in tech, sustainability, and cultural impact and an early investor in Web 3.0.
His reasoning for this is simple: firstly, global tech businesses have already taken the initiative to setup shop in Africa.
“The second reason is that our youth are now educated and some in the diaspora are well-traveled and
we have a consciousness as a continent about the power of Web 3.0 and not to mention mobile user
penetration is averaging between 70 percent to 85 percent,” says Bawuah.
The continent is the only one with the majority of its population making up the youth bracket. This
has led to the upsurge of innovative and world-leading tech companies such as Twitter, KZbin,
Google and Microsoft calling the continent home for their next growth phase.
Today, he is on a mission to enlighten the African continent about what that next big thing is - Web 3.0.
“The only thing that is not happening in Africa is that more businesses are not being developed. The businesses that are being developed on this Web 3.0 foundation are doing really well. The telcos are doing well and the fintech businesses are booming in West Africa and they are raising very big series A and seed rounds and it has become very clear that this is a hot spot. The opportunities are there.”
So, what exactly is Web 3.0?
Web 3.0 is the third generation of the world wide web and refers to a
unique situation where Artificial Intelligence (AI) and blockchain-based decentralization comes
together to create transparent internet experiences. In other words, it’s all about challenging the
traditional views about ownership.
How? Through Blockchain.
Built on a public ledger that is maintained automatically on a programmable network of computers
around the world, the revolution of Web 3.0 means users are able to own digital assets which are
unique. These are also referred to as Non-Fungible Tokens (NFTs) and they can range from anything from art, music or even video games.
This decentralization of the internet and digital assets are key to unlocking the full potential of Web 3.0 in Africa.
“We have 1.3 billion population, 70% of the world’s youth reside on our continent and our GDP is only $2.5 trillion. We have four tech companies in the world that combined are 10 times the size of Africa in global domestic product. That’s crazy and they employ less than 10 million people. So, the issue in Africa is productivity,” says Bawuah.
For those economies already benefiting from Web 3.0, governments played a pivotal role in fostering these digital innovations. For Africa to catch up, we must do the same.
“I feel like the reason why Africa will be impacted is that we have an opportunity to create an
additional industry. We are going to be the world’s resource for agriculture and food and commodities but we can also become the world’s resource for cheap accessibility to Web 3.0 and by creating those industries we are going to have a new lease of jobs and talent and people will look at Africa as a place to come to and not a place to capitalize,” avers Bawuah.
Bawuah believes that there is tremendous potential to create secondary market
liquidity for more African NFT artists and digital entrepreneurs and also believes that the NFT hype is spreading like wildfire. Africa, with its sprawling youth population, will hopefully not miss the spark.
Del Titus Bawuah Insta - / deltitusbawuah
★ Ghana Unity Dao Insta - / ghanaunitydao

[@henryofori7045]

Get rid of Corruption and Ghana will take shape.

[@Theworldparrot]

Who should do that? That thought that someone is always responsible for something we want and don't want is a slave mentality man. We should accept it as a collective job of us all

[@sarahashun1180]

@@Theworldparrot It starts from the top. I’m not corrupt and the person who made the comment is not corrupt. Ghana’s corruption is so bad that it puts of investors. It starts at the top, period.

[@avodahproductions2203]

Keep up the great work. One love from Jamaica 🇯🇲🇯🇲❤️🇯🇲🇯🇲.

[@Uncle-Basil]

This is a great interview...the advances we are making in technology are scary and I'm saying this as an IT person myself. Soon I will make the move and I already have plans on how I can contribute to the Ghanian people and economy. --- btw....UP THE GUNNERS! 💪🏾 😂

[@MsMariaCassidy]

I appreciate this much needed conversation. It certainly inspires me to not only learn, but to plan for the infinite web 3 world that is undoubtedly bound to be a “way of tech life”/second language across the world and to figure out how I can incorporate it into my own business practices.

[@lancedavis1039]

Extremely excited for the web3 ecosystem in Ghana! ETH Accra coming soon

[@MAdams-ey4if]

Luv my diaspora Africans! They go to Africa with knowledge of what's possible and are eager to plant those seeds of knowledge on the Continent. What we find out is that there are on-the-ground reasons why Africa has not progressed substantially on it's own dime since colonialism. The Francophone African enslavement to the CFA is just one example of how dependent on the White West African countries remain, and it gets worst when you consider a place like Ghana that has a Status of Forces Agreement with America, the biggest threat to world peace bar none! What these SoFA means is that American officials/soldiers are Above The Law. Just another example of the Geopolitical Dependency that still stifles African development. These projects, Web 3, Internet Gaming, etc., are all economic schemes that the advanced economies are indulging because their economies provide tip-of-the-spear technological and social opportunity for their People! Africa is the exact opposite! Africa, Ghana included, has to commit itself to pervasive and comprehensive Civic Infrastructure Building. Forget about these advanced economy pie-in-the-sky applications. Africa needs pervasive Water, Sewage and Electricity Grids, Roads & Bridges, Addressable Household Postal systems, Public Transportation, Public Health facilities. Give people these basic social supports and they will bring the country forward. It ain't gonna happen any other way!

[@jdowns7523]

I Agree 👍 with you on The Corps basis of what you are Saying ,,,! An maybe Ghanas 🇬🇭 Web 🕸 3.0 Project can be a Start or Catalyst for there buildings of its own Countrys infrastructures 1st that you So Eloquently Spoke of ; an however ,,, they need too make a Start from Somewhere in there Technology departments ,,, an Webb 3 seems to be that Start ,,,! $Royalblackseed8

[@ToursandTrendsTV]

Such a great interview. The positive energy and resilience displayed is so affable. Kudos for the great insights shared and wishing you greater strides Mr Bawuah.

[@Edzx22]

Great conversation! Working on things myself will be coming to add my own contribution!

[@avrahamyoel7039]

Incredible dialogue!

[@fosterdompreh7716]

Timing is one of the most important determinants of startup success. Being a contributor to web3.0 piloting, we have to channel our energies into other avenues like IoT projects and produce real world stuff like robotics, cyber-physical systems, some transportation problems. Web3.0 relying on decentralized systems isn't revolutionary it's just a web2.0 with modifications on fundamentals. Recently, take a look at those who purchased digital arts; NF arts at higher prices and reduced to penny. We need to put our energies into the right projects.

[@barbaraakinbowale4456]

Excellent work my brother

[@kissphamous5451]

❤️ 😍 💖

[@appytoinvest]

Great interview, I'm going to share this.

[@20twenteee39]

Web3 might be the future, but it's a DARK future. A digital penitentiary......that glitters. And we know what's said about things that glitter. Stay free

[@youngfinance5122]

If you people are building web 3.0 in Ghana then you need to talk about cryptocurrency because it's the feature currency for web 3.0

[@askeldouglas421]

Congratulations it is good to develop web 3.as you cand see what happened to Twitter , just look at huge opportunities in Ghana in Africa it is bigger than anything you ever see.now you have to think why Google is there and why they all comeing to Africa 😳🤑££££££ , it all happeneding in the mother land , is black people still sleeping or they awake

[@kwameadu-dwomoh5645]

Great initiative Mom... How do young people like us get involved?

[@lloydedmondson7976]

What is web three

[@Sketchesz]

It's a decentralized internet... cryptos live in web3....NFTS & the meta verse... No one company/companies dictate how everything works from banking to internet to storage. It's a world where your engage with programmed codes and get responses.... you want a loan?, Engage with lending protocols with no questions or in depth background checks...... You want lend out some money for profits?, Engage with protocols...... You want to store files?, Engage with protocols like filecoin..... You want etc etc.... The meta verse will bring the full capabilities of web3 to the fore front....

[@simp1eone]

Exactly?? Like how do you not define it to audience watching

[@jay-kv6wn]

Some of us are already learning Web3 development

[@1africa-io]

Cardano for Africa!!

[@simp1eone]

Dentaa you should have made HIM DEFINE WHAT WEB 3 MEANS. are we automatically suppose to know what it is,?

[@thrie8149]

That’s nice Ghana, to date as I understand that someone from the US cannot work in Ghana, cannot drive in Ghana, cannot on property in some regards in many regards is pretty difficult and somewhat a closed environment for the diaspora. Any comments on that? I’ve been there and the bureaucracy and having to pay people under the table (aka Dashing) to move things along is abysmal. I believe that Ghana needs to really assess what they want with people from the diaspora other than to use them for their resources.

[@colint8259]

Agree with everything said there. I work in Network Infrastructure & Ops for 18 years in London, and can tell you that Ghana is not ready for the W3.0 framework adoption. N.I.T.A only up until 2019 with standardisation of regulatory policies has just started to bed-in its services, but to get the block chain services to replace the purpose of each person that needs a job will be dangerous. Smart contracts or not, the Western society should be an example of when technology has no accountability or moral filter. Web3.0 is here to stay, but Ghana cannot run before it should walk. Plenty of real world use cases need to make sense to the culture, not foreigners.

[@colint8259]

@Rosita Scarborough I understand all that you are saying. I've been trading cryptocurrencies since early 2017, and can tell you that the projection hypothesis stated is likely to sink on the basis that the world production is shutting down. Ideas and projects like this do not exist in a vacuum of its own, and the S&P 500 dictates what happens to the growth and decline. The world is ditching white-collar workers for hands-on blue-collar workers to manufacture and build infrastructure. This is why all the hyped big-tech companies will layoff thousands of workers like Amazon and Twitter have already started. Also, the conversation in this video is about the development in specifically the blockchain, where there is focus on the layer one protocols of the network ecosystems, and not cryptocurrency. My professional experience is to know these trends so that the companies I work with stay afloat from the macro problems on the horizon. Food security is more important than any of this right now.

[@okey9236]

Why don't you all stay wherever you are and be comfortable

[@barbarabridgetbensah9601]

I'm Ghanaian. I know what you mean. Very difficult to deal with. I have not been able to.

[@barbarabridgetbensah9601]

@@colint8259 I'm Ghanaian. Have lived in Ghana all my life. You got it right. Making the culture understand is the problem. The work ethic does not exist. Something for nothing dominates the mental attitude. Understanding the way the real world operates doesn't seem to exist. I worked in the public service for 20 years and resigned... with one sentence...if someone had listened to me and acted, the whole galamsey problem wouldn't have even started. People are mentally myopic. We need to change.

[@eddie9559]

[5:45]what is the native language? It has name, big man.

[@dct124]

A volatile market is a good market, a stable market is a dead market. Utility and usage are 2 key pillars for choosing correctly where to invest. Not your keys, not your crypto. Study.

[@ellaarmstrong2704]

Please how do we get emails read regarding the GUBA network inquiries

[@ODANANETWORK]

[e-mail]

[@ellaarmstrong2704]

@@ODANANETWORK Thank you 😊

[@1africa-io]

ADA for United States of Africa

[@aboaboyahciciniko7132]

👁👁👁

[@southafricaismyhome814]

IN GHANA YOU BUY PROPERTY TO LEASE FOR 100 YEARS, AFTER 100 YEAR THIS PROPERTY DONT BELONGS YOU 🇿🇦 IN SOUTHAFRICA WE DONT PLAY THAT GAME 🇿🇦CHECK YOUR PROPERTY LAWS IN GHANA BLACK AMERICANS 🇿🇦🇿🇦🇿🇦🇿🇦🇿🇦

[@okey9236]

Ignorance is bliss...who toldyou that.

[@southafricaismyhome814]

Read property law 🤭🤭🤭🤭

[@okey9236]

@@southafricaismyhome814 you don't understand what you're talking about

[@nicholasgwira9026]

Free hold and lease hold of land both have advantages and disadvantages. With both you own the land .You can pass both on to your family when you die. Its the Taxation of the land which is different. Please read up on Ghana Landlaw so you can get the facts. What you said is incorrect.

[@nicholasgwira9026]

@SOUTHAFRICA IS MY HOME its not the property on the land that is affected by freehold and Lease hold.

[@madetocapture6243]

Great conversation. Learned a lot. Googled: what is NFT. I never really thought of it till I watched this episode.

[@jdowns7523]

I would luv 💕 too get onboard with Web 🕸 3.0 ,,, an How can I help an join in the Prosperities of web 3 ,,,????? $Royalblackseed8