Are you following the development in Africa regarding decentralization? 

Here are some of the recent news bia Bitcoin.com 

Ugandan High Court Rules to Uphold Central Bank's Crypto Prohibition

The Ugandan High Court has ruled in favor of the Bank of Uganda's (BoU) ban on crypto transactions, which was implemented in 2018. The court dismissed a petition filed by local crypto exchange Ugandacrypto Limited, which sought to challenge the BoU's directive. The judge stated that the central bank had the authority to issue such directives to protect the country's financial system and maintain economic stability. Despite the court's decision, Uganda's crypto community remains optimistic about the future of digital currencies in the country and hopes for a more comprehensive regulatory framework.

African Blockchain Business Funding Rose 429% in 2022, Report:

According to a report by African Blockchain Lab, funding for African blockchain businesses increased by 429% in 2022 compared to the previous year, reaching $126 million. The report highlights the growing interest in the African crypto and blockchain market, with investors recognizing the potential of the technology to address various challenges faced by the continent, such as financial inclusion, remittance, and cross-border payments. Nigeria, South Africa, and Kenya are the leading countries in investment in blockchain projects.

Zimbabwe's Central Bank Says Upcoming Gold-Backed Digital Currency to Help Reduce Demand for US Dollar:

The Reserve Bank of Zimbabwe (RBZ) is reportedly working on a gold-backed digital currency, expected to help reduce the country's reliance on the US dollar. The move is part of a broader strategy to promote financial stability and provide an alternative to the country's struggling local currency. The RBZ believes that the gold-backed digital currency will encourage more people to use the Zimbabwean dollar and reduce demand for foreign currency. The central bank is also looking into the potential of a central bank digital currency (CBDC) to strengthen the local economy further. 

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