Umoja Labs Boosts Payments Infrastructure in Emerging Markets with Chainlink BUILD

• Umoja Labs has partnered with Chainlink BUILD to boost payments infrastructure for emerging markets using Web3 technology.
• Umoja Labs will provide 4 percent of its native token supply to Chainlink service providers, such as stakers.
• By joining the Chainlink network, Umoja Labs will gain access to reliable price oracles and technical support.

Umoja Labs Partners with Chainlink BUILD

Umoja Labs, a decentralized credit protocol that is working towards democratizing access to DeFi financing for the African diaspora, announced on August 3 that it has officially joined the Chainlink network through the BUILD program. The partnership between Umoja Labs and Chainlink BUILD will help boost payments infrastructure for emerging markets using Web3 technology. In exchange for accessing reliable price oracles from the Chainlink network, Umoja Labs will provide 4 percent of its native token supply to Chainlink service providers, such as stakers.

Web3 Adoption in Emerging Markets

The adoption of digital assets is undeniably imminent across the world, with emerging markets like Africa leading in Web3 adoption. A recent study by Triple-A noted that more than 38 million Africans and 33 million South Americans are already using digital assets. Digital assets are cheaper and faster to use than fiat currencies; however, the infrastructure to onboard billions of global users is still in development across various blockchains.

ChainLink Network

One of the most important projects in ensuring reliable Web3 infrastructure is the Chainlink (LINK) network which provides stable oracle price feeds to developers. As a result, it uses the Chainlink BUILD program to accelerate projects within its ecosystem by providing enhanced services and technical support in exchange for commitments of network fees and other incentives to Chainlink service providers such as stakers.

Benefits Of Joining The Network

By joining the Chainlink network, Umoja Labs will gain access to reliable price oracles from the chain link as well as technical support from experts within its ecosystem making it easier and faster for them reach more global markets with their product/services thus achieving their goal of offering DeFi financing services on a larger scale especially in Africa where digital asset usage is on a rise but still needs more improvement when it comes to infrastructure development .

Conclusion

Umoja Lab’s partnership with chain link build demonstrates how blockchain technology can be used effectively decentralize financial services not just in Africa but also globally while making use of existing blockchain networks , this initiative also highlights how partnerships between different stakeholders can be utilized effectively create new opportunities especially when it comes building up financial infrastructure throughout different parts world .