It’s undeniably cool. That blissful thock sound of it shutting, the techno-magic of a foldable display… Come along for a ride outside of ridiculous marketing speak for a moment. In Africa, where I see so much potential for technology to actually change lives, I have to ask: Is the Z Flip7 a tool for empowerment, or just another shiny distraction fueling inequality?

Accessibility: The Price of Progress?

Let’s be brutally honest. The Z Flip7 will be expensive. We're talking about a device that'll likely cost more than many Africans earn in several months. The mere price of entry is enough to put it squarely in the “status symbol” category. You might say, "Well, it's a premium phone, not meant for everyone." That's precisely the problem. If the tech meant to revolutionize finance and empower creators is locked behind a hefty price tag, who actually benefits?

We need to think about alternatives. Or why not consider improving the functionality and security of the less expensive smartphones that are already largely adopted across much of Africa? Could any of those be tapped for DeFi and NFT access after appropriate software and security augmentation? Most importantly, how can we serve the people who stand to benefit from DeFi the most? Let’s make sure that people who have been excluded from traditional banking systems aren’t excluded by the digital divide.

DeFi Dreams: Can It Unlock Potential?

The potential is there. The Z Flip7, with its increased processing capabilities, might enable quicker and safer entry to decentralized exchanges. Picture today’s farmers using it to backhandedly sell their potatoes on blockchain-based exchanges, bypassing the exploitative intermediaries. Imagine sculptors and other artisans producing and monetizing NFTs of their work to worldwide customers, cutting out hundreds of traditional galleries and distributors.

Here’s the gut punch. That potential very much relies on dependable internet access - a continuing challenge even in the most developed areas of Africa. What good is a cutting-edge phone when you can't even get a stable connection to participate in the DeFi ecosystem? Now we need to turn our attention to, literally, laying that infrastructure. Starlink's expansion will be exciting for some, but is it truly affordable and accessible for the communities that need it most? Are these locally driven solutions that we should be focusing on instead?

Furthermore, security is paramount. In many ways, DeFi is still the Wild West, scammy and exploitable. With an African-centric DeFi infrastructure, the Z Flip7 could help lead more Africans toward appropriate economic access. It should be packed with powerful security features to protect users’ hard-earned dollars. A single vulnerability can erase these savings and push back DeFi adoption by years.

Empowerment or Empty Consumerism?

This is the question that would allow all of us to sleep at night. So we have to ask ourselves, are we really giving people power and choice, or are we just creating more consumers? Are we doing a great job at really teaching people how to be financially independent? Or, are we just peddling them yet another overpriced technology they’ll never use?

I would be worried if I were Samsung’s Z Flip7. As currently envisioned, it appears to maintain the status quo and inequalities, rather than break them down. Otherwise it will just be the rich elite’s new status symbol, as the rest of us get unceremoniously dumped.

  • Ask yourself: Is the Z Flip7 a tool for building wealth, or just a way to spend it?
  • Think about: How can we ensure that technology empowers, rather than exploits, vulnerable communities?

It’s time to move past the idea that it’s enough to have the shiniest new tech and start using it to solve actual issues. We must give Africans the agency to be the creators and innovators rather than mere consumers.

With the latter, the Z Flip7 could be so much more than an expensive plaything. Digital assets can be an important tool for economic empowerment, a gateway to financial freedom, and a new creative economy. Only if we solve the challenges of accessibility, affordability, and security. Only if we prioritize empowerment over consumerism.

The future of DeFi in Africa rests on it. The future of Africa depends on equitable access to these innovative tools. These are the tools we will need to construct a better tomorrow. Let’s make sure the Z Flip7 is not just another symbol of the gap. Rather, let it be a real first step toward bridging that gulf. The frustrating anger of knowing we’re wasting the potential of so many should inspire our quest for something better.