Date of Award

2-20-2023

Document Type

Thesis

Degree Name

Executive Masters in Media Leadership and Innovation (EMMLI)

First Supervisor/Advisor

Bitange Ndemo

Second Supervisor/Advisor

Nancy Booker

Department

Graduate School of Media and Communications

Abstract

The growing popularity of cryptocurrencies such as Bitcoin, blockchain, and Web 3.0, has sparked interest not only among industrialized nations but also among the African continent. The widespread adoption of cryptocurrencies in Africa can be attributed to several drivers, including high rates of mobile phone and internet penetration. Blockchain technology has the potential to increase efficiency and reduce transaction costs, contributing to the growth of cryptocurrencies on the continent. This sought to examine the impact of media on the adoption of cryptocurrencies in Africa. The research focused on how media frames events and issues, and how it influences people's thoughts, perceptions, and actions. The study also assesses the role of media in expanding the audience for cryptocurrencies and increasing the popularity of the sector. This study also examined the role of media in the uptake of cryptocurrencies in Africa and its impact on the attribution and performance analysis of the crypto-adoption process. The research employed both qualitative and quantitative methods, including a review of existing literature, content analysis of media coverage of cryptocurrencies in Africa, and surveys with African cryptocurrency users. The findings of the study indicate that most Africans are drawn to find information from different media sources, which is partly due to comments from various celebrities, as well as the media hype on how cryptocurrencies are making people rich. This has led to numerous individuals believing that crypto will enable greater financial rewards and is propagated by social media. In Africa, where the availability of information is driven through cheap handsets, the accessibility of social media is readily and easily available, which has also resulted in many to follow crypto-influencers and other social media celebrities. The content created by those has had a positive factor in adoption.

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