Why is actually Cardano building Africa?

The latest projects are being designed to improve the African region.

Input Output Global, the creator of Cardano (IOG) Input Output Global, the creator of Cardano (IOG), recently signed a deal with Iceaddis an Ethiopian incubator that helps support tech startups to help local entrepreneurs and creatives. In the context of Project Catalyst, the largest decentralized innovation fund in the world, the two partners have created the Ariob incubator.

This strategic partnership is intended to accelerate the growth of Project Catalyst Foundation funded projects. Experts and resources from the venture capital industry are available to startups in order to help their creation of products that can solve real problems in Africa. The community picks the programs they like, and the creators get financial support to implement them.

Why Africa?

Africa is preparing to become a center of blockchain innovation. It is a vast and diverse continent, where there is a rapid emergence of technological advancements. Africa isn’t bound by outdated methods. This makes it easier for technological innovations to flourish there. There is tremendous opportunity for modernization of the economy and society with projects in finance, technology services and development.

African countries are a fantastic place to adopt and distribute cryptocurrency. Now this region accounts for just 2% of cryptocurrency transactions around the globe however, analysts from the KuCoin cryptocurrency exchange said that the use of cryptocurrencies within Africans in certain countries grew by 2670% in 2022.

“The adoption rate of digital assets is growing rapidly across Africa,” said Johnny Lyu, KuCoin’s chief executive officer. African countries are among the most popular in the adoption of cryptocurrency. They outnumber other countries like Asia, Europe, America, and Asia,” stated Johnny Lyu CEO of KuCoin.

The region is home to one of the highest percentages of the widespread adoption of cryptocurrency around the world. Three countries: Kenya and Nigeria are among the top twenty nations in the Global Cryptocurrency Adoption Index (Chainalysis) with 5th, 6th and 16th, the 16th and 19th spots.

Republic of South Africa leads the way in terms of both currency holders and market size. KLA conducted a survey and discovered that 47 percent of South Africans are cryptocurrency holders. Another third of them intend to make investments in crypto in the near future.

Input Output Global and the Ethiopian Ministry of Education announced a partnership last year to give five million Ethiopian students an opportunity to show their academic achievements with Atala the PRISM system. IOG is also working with World Mobile Zanzibar in order to provide basic internet services via blockchain technology to 40 percent of Africans. 1000 internet providers offer access in developed countries worldwide, but this ignores almost half of Africa.

Charles Hoskinson, the founder and CEO IOG, repeatedly stated that Africa is able to achieve a major economic breakthrough and catch up with larger economies, like China or America. Cardano is determined to support this kind of miracle on the African continent.

In this context incubator programs are vital. курс ada (and Ariob) provides African projects with entrepreneurial and economic tools. This helps to increase the growth of ecosystems and sustain them. A representative from IOG has added the following statement on their latest launch:

“The Ariob incubator. This is where a few projects will be selected for the support program. It will continue until the first quarter of 2022. The program provides services to help in bringing creativity to life, testing ideas, and making prototypes in order to develop the most effective products. will also help link projects with universities and government agencies, local businesses, and non-governmental organizations.”

What is the way that the Cardano ecosystem work in general?

Cardano has been focusing on sustainable growth as well as improvement in the system due to the Hydra update. Cardano has reached the Basho stage. The aim is to create an optimal environment that can facilitate and support the creation of decentralized apps (dApps) The ecosystem has already seen significant growth: at the moment, about 1,000 projects are being developed on Cardano. are among the most active, with 47.9%. This is because the creators and users have been betting on the blockchain’s impressive performance. Cardano NFT has witnessed Snoop Dog, an American rapper, turn into a huge success. Clay Nation collaborated with him to bring “iconic” NFTs online.

Cross-blockchain blockchain projects, which enable transactions between different blockchains, are also becoming more popular. Cardano is also working in this area. Milkomeda was launched on the Cardano main network at end March. It is a second level protocol that provides EVM capabilities to other blockchains. This enabled users of Ethereum dApps to be able to deploy within the Cardano environment for the first time.

The third-highest-rated portion of the Cardano ecosystem is the lending industry. In the near future, the size of the global credit industry market is predicted to reach 26.08 billion US dollars. Furthermore, the annual average growth rate of the industry between 2021 and 2028 will be 24%..