Why is actually Cardano cultivating Africa?

The latest projects are being planned to help develop the African region.

Input Output Global – the creator of Cardano has recently signed a deal with iceaddis, an Ethiopian incubator for startups in tech and young entrepreneurs. The partners established the Ariob incubator as part of an incubator program which will help boost the growth of projects funded by the world’s largest decentralized innovation fund Project Catalyst.

This partnership will aid in the development of projects funded by the Project Catalyst Foundation. The experience and resources of Venture Capital can be accessed by startups to help them create products that solve real Africa-related problems. The community selects the programs they like and creators receive financial support to implement them.

Why Africa?

Africa is poised to be an important hub for blockchain-related innovation. It is a vast continent that has a variety of technology needs. Africa isn’t required to be tied down to old methods. This makes it simpler to bring in new technologies and leave a mark there. что такое токены , technology and financial services have a huge potential to modernize society and the entire industry.

The potential for the adoption of cryptocurrency and distribution is huge in Africa. This region currently accounts for only 2% of cryptocurrency transactions worldwide, but analysts of KuCoin, the KuCoin cryptocurrency exchange said that the use of cryptocurrencies among Africans in some countries increased by 2670% by 2022.

“The rate of adoption of digital assets are growing quickly across Africa,” stated KuCoin CEO Johnny Lyu. African countries have the highest rate of adoption of cryptocurrency worldwide. They surpass regions like the USA and Europe.

The region has one of the top rates in the world of adoption by the masses of cryptocurrency. Three countries: Kenya (Nigeria, South Africa, Tanzania) are among the top 20 countries in the Global Cryptocurrency Adoption Index. It ranks them at 5 6, 16, and 19th respectively.

Republic of South Africa is at the top of the list in terms of the number of people who hold currencies and market volume. According to the results of a study carried out by the research firm KLA, up to 47% of the population in South Africa are holders of cryptocurrency, while a third option is to invest into them in the future.

In January of this year, Input Output Global announced that it had partnered with the Ethiopian Ministry of Education to provide five million Ethiopian students with the opportunity to prove their academic credentials by using the Cardano-based Atala PRISM technology. IOG is also working together with World Mobile in Zanzibar to provide access to basic online services using blockchain technology, due to the fact that 40% of Africans do not have internet access. 1000 service providers across 100 countries cover the developed world, but completely ignores almost half of the continent.

Charles Hoskinson, the founder and CEO IOG has repeatedly said that Africa has the potential to create a miracle in economics and catch up with larger economies, like China or America. Cardano is committed to supporting this kind of miracle on the African continent.

In are vital. Initiatives such as Project Catalyst and Ariob provide projects in Africa with not only economic tools, but also educational and entrepreneurial tools to accelerate sustainable growth of the ecosystem and increase sustainability. For their latest launch, an IOG representative added the following comment:

“The Ariob incubator. Here a select number of projects are participating in the support programme, which will last until the beginning of 2022. The program offers services to develop creative potential and to test concepts. It also aids with the development of prototypes for finding the most efficient product. Ariob can also link projects with local companies or government agencies as well as non-governmental organizations.

What is the current situation in the Cardano ecosystem?

Cardano is currently working on Hydra updates and is focusing on sustainability and improving the overall system. Cardano has entered the Basho stage. The goal is to create an optimal ecosystem that facilitates and supports the creation of decentralized application (dApps) Cardano has already over 1,000 projects.

NFT projects are the ones with the highest activity, with 47.9 percent. Both users and creators are betting on the potential of blockchain to deliver great results. American rapper Snoop Dog has become a sensation in the Cardano NFT, as the singer is working with Clay Nation to present “iconic” NFTs on the web.

In addition increasing numbers of users are interested in cross-blockchain projects that allow transactions between blockchains. Cardano has also been involved in this field. Milkomeda is a second-level platform providing EVM capabilities for different blockchains. It was launched on Cardano’s main network on March 31st. This allowed users the ability to create Ethereum dApps using the Cardano network for the first time.

The third-highest-rated portion of the Cardano ecosystem is the lending sector. The global credit market is predicted to increase up to 26.08 billion US Dollars in the near future. In addition, the sector’s average annual growth rate for the period 2021 and 2028 is 24%..