Onboard’s onchain vision is propelling financial empowerment across Africa, fueled by a vibrant partnership that celebrates culture and connectivity.
Yele Bademosi is spending a lot of time thinking about credit — or rather, the lack of it in many African countries. “Did you know,” he asks, “that if you move to Nigeria today and want to rent a house, you have to pay for your rent a year or two in advance? To get an iPhone, you have to pay for it up front? To get a car, you have to pay for it up front? There is no credit. People need access to financial services to live a better life, and right now they simply don't have that access."
Onboard, founded by Bademosi, exists to create that access, setting its sights on bridging the gap between traditional financial systems and the digital frontier in order to create equal opportunities for all, regardless of geographic location. With digital access becoming increasingly prevalent, especially among young Africans who often have social media accounts before a bank account, the stage is set for a financial revolution. When asked why an onchain future is so important, Bademosi shared his perspective, saying: "This is the first time where as Africans, we're building alongside the rest of the world." By actively participating in the onchain digital economy, Africa is positioning itself as a key player in shaping the future of global technology.
However, Bademosi recognizes that there are challenges to overcome in order to make going onchain accessible to everyone. "There are so many questions that need to be answered for the uninitiated,” he says. “There's this thing called a wallet address, and another thing called gas. All of these technicalities and hurdles are very difficult for a first-time user." To address this, Onboard aims to create an application layer on top of Base to simplify the onboarding process and make onchain services user-friendly.
For Onchain Summer, Onboard has partnered with artists and musicians to create commemorative onchain assets. "For a lot of people who might not be aware, one of the biggest exports from the African continent right now is our music,” says Bademosi. “Afrobeats is going crazy right now, being listened to by millions of people across the world. As Africans, we have consistently conveyed our history, challenges, and accomplishments through art”. Onboard wants to bring music and art not only displays but also celebrates the African continent onchain.
The significance of Onboard’s contribution to Onchain Summer goes beyond just celebrating music and culture. Bademosi sees it as an opportunity to showcase Africa's spirit and optimism for the future: "I think our drop is an opportunity to introduce the world to a culture that, despite everything that has gone wrong, still has this sense of happiness and belonging, and excitement for the future."
By empowering frontier markets in Africa, Onboard is forging a path towards a more inclusive and prosperous future for all. “I see myself as a custodian and champion of this mission and vision,” says Bademosi, “and we're calling everyone to join us and build an awesome future together, on Base.”