10th-Mar-2026 • Brendah Akinyi • Blockchain and Web3
In today's digital age, staying ahead of the curve is essential for Kenyan SMEs. One technology that offers immense potential is Blockchain and its evolving counterpart, Web3. These technologies have been making waves globally, and now it's time for African businesses to join the revolution.
But what exactly are Blockchain and Web3? Let's break it down:
Blockchain is a decentralized, digital ledger that records transactions across multiple computers. It ensures security, transparency, and immutability of data. For SMEs, this means reduced risks of fraud, streamlined operations, and improved trust with business partners.
Consider a supply chain scenario: instead of relying on intermediaries to verify transactions, businesses can leverage Blockchain to securely share information, reducing costs and increasing efficiency.
Web3 is the next generation of the internet, built upon Blockchain technology. It introduces a more open, user-centric web where users have control over their data and interactions. This empowers SMEs to build stronger relationships with customers by offering personalized services and enhancing privacy.
Imagine a customer loyalty program built on Web3. Instead of a central database holding all customer information, each user would own their own data, allowing them to decide who accesses it and for what purpose.
A report by PwC indicates that 86% of executives surveyed believe Blockchain will disrupt their business models within the next 3 years. The same report predicts that Africa's blockchain market could grow to $2 billion by 2024, highlighting its potential for SME growth.
