Cardano’s number 1, Hoskinson, wants to rebuild the economic and social infrastructure of African nations through blockchain technology. The latter sees Africa Web3 as a powerful force that will boost the development of the African continent and contribute to its digital transformation.
Cardano Blockchain Unlocks Poverty Chains in Africa
Cardano’s ADA cryptocurrency is currently doing well, with a price of $0.5 and a capitalization of almost $18 billion. Since last April, IOHK, a subsidiary of ADA, has signed a blockchain deployment agreement with the government of Ethiopia. This agreement is transforming the education sector in the country.
Indeed, the Cardano blockchain, together with Africa Web3, create inviolable records of the educational results of 3,500 schools, or 5 million students and 750,000 teachers. This technological advance, signed Cardano, makes it possible to locate the places and identify the causes of poor school results. It also allows for the proper and effective allocation of educational resources.
In Tanzania, IOHK also signs an agreement with local authorities to democratize access to the country’s digital, financial and social services. This initiative aims to create a global market, accessible to all, without geographical or cultural constraints.
Direct access to the Cardano cryptocurrency makes everyday life easier for Africans
US and EU citizens have the ability to prove their education, identity and heritage and access loans. In Africa, it’s an obstacle course. Few people have access to a bank account, decent credit, or documents proving their heritage. This is why Cardano has set itself the goal of correcting the poverty trap in Africa and making the continent the world leader in artificial intelligence and advanced robotics.
Why is the project on track? Because the Cardano blockchain and the Africa Web3 are not influenced by the politics or geopolitics of major nations. Once the Cardano protocol is installed, the millions of African users have assets that can be used immediately. Bet held, since there are currently more requests than offers, according to Hoskinsonwith 900 decentralized applications on the Cardano ecosystem.
This is an opportunity for Africans who are no longer forced to circumvent their payment. They have direct and easy access to assets. This is an opportunity not to go through the state or other centralized organizations that will take a percentage.
The Africa Web3 is well on its way to dethroning the Western market. The ADA is a solid project, supported by several African leaders who see it as a real opportunity. The proof, Cardano and its cryptocurrency have continued to increase in value. The token moved from $0.019 in March 2020, to $0.5 at the time of writing. It is thus part of the top 10 of the most capitalized cryptocurrencies.
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Interested in investment and financial markets after a business school in Chambéry, the passion for cryptocurrencies was obvious. The blockchain is surely the universal tool of tomorrow.