Why is actually Cardano building Africa?

The Cardano ecosystem is being replenished with new projects that aim to the growth of the African region.

Input Output Global – the developer of Cardano has recently signed a deal with iceaddis the Ethiopian incubator for tech startups – to support local young entrepreneurs. As part of Project Catalyst, the largest innovative fund that is decentralized in the world, the partners created the Ariob incubator.

This partnership will assist in the acceleration of growth in projects that are funded through the Project Catalyst Foundation. что такое token can gain access to venture capital expertise and resources to develop products that will solve the real issues in Africa. The community selects the programs they would like to see and the creators receive financial aid to develop their concepts.

Why Africa?

Africa is poised as a centre for blockchain innovation. Africa is a diverse continent that is seeing the rapid development of technological advancements. Africa does not have to be bound by outdated system. This makes it easier for technological innovations to flourish there. For society and industry, projects in the areas of financial services, technology, and development offer great potential.

There is plenty of potential in Africa for the adoption and distribution of cryptocurrency. The region accounts for just 2% global crypto transactions. However, KuCoin cryptocurrency exchange analysts discovered that Africans have used cryptocurrency in certain countries at a rate of 2670% higher than in 2018.

“The acceptance of digital assets in Africa is increasing exponentially. According to Johnny Lyu, KuCoin CEO, African countries have the most cryptocurrency-related adoption anywhere around the globe. They’re even higher than other regions such as those of the USA, Europe, and Asia.

The region has one of the top rates of mass adoptions of cryptocurrency. 3 countries: Kenya, Nigeria, South Africa and Tanzania are among the top 20 countries in the Global Cryptocurrency Adoption Index from Chainalysis with 5th 6th, 6th, 16th, and 19th positions in it, respectively.

The absolute leader in terms of the number of people who own cryptocurrencies and market volume are the Republic of South Africa. KLA conducted a study and discovered that 47 percent of South Africans are cryptocurrency holders. Another third of them intend to make investments in crypto in the future.

Input Output Global announced in 2015 a partnership to the Ethiopian Ministry of Education. The partnership allows five million Ethiopian students to display their academic credentials using Atala-based AtalaPRISM technology. IOG has also joined forces with World Mobile Zanzibar to provide basic online services through blockchain technology. 1000 providers provide internet access to developed countries around the world however this is not the case for nearly half the continents.

Charles Hoskinson is the founder and CEO of IOG. Hoskinson has stated repeatedly that Africa can attain an “economic miracle” and catch-up with larger economies such as China and the United States. Cardano is in favor of an “economic miraculous development” in the African continent.

Incubator programs are critical in this respect. Project Catalyst (and Ariob) offer African projects entrepreneurial and economic tools. This can help increase ecosystem growth and sustainability. The following comment was added by an IOG representative in their latest launch.

“The Ariob incubator. This is where the top projects will be chosen for the support program. It will continue through the first quarter of 2022. This program provides services to discover creative possibilities and to test concepts. It also helps in the creation of prototypes to determine the best product. Ariob will also help link projects with educational institutions as well as local businesses and non-governmental organizations.”

What is the state of Cardano ecosystem working all around?

Cardano’s Hydra update is on the way and, therefore, the Cardano community has been focusing on the sustainable growth of the system. Cardano currently is at the Basho stage. This stage is designed to build an ecosystem that is supportive and facilitates the development decentralized applications (dApps). Cardano already has more than 1,000 projects.

NFT projects are among the top activity level at 47.9%. Because users, creators and others are putting their faith in the promising performance of the Blockchain NFT, this is the highest amount. Cardano NFT’s most popular rapper is Snoop Dog. The singer has joined forces with Clay Nation to offer “iconic NFTs” online.

A cross-blockchain initiative that allows transactions between various Blockchains is getting more popular. Cardano is actively working in this direction. Milkomeda launched on the Cardano network in the last week of March. The protocol offers EVM capabilities to all blockchains. It allowed users to integrate Ethereum dApps to the Cardano ecosystem.

The sector of lending is the third-most popular area of business within Cardano. The global credit market is predicted to grow to 26.08 billion US Dollars within the next few years. Additionally, the industry’s average annual growth rate between 2021 and 2028 is 24%..