Why is Cardano cultivating Africa?

майнинг cardano is being renewed by introducing new projects to support the development of the African Region.

Input Output Global – the maker of Cardano – recently signed with iceaddis which is an Ethiopian incubator for tech startups and young entrepreneurs. In the context of Project Catalyst, the largest decentralized innovation fund in the world, the three partners established the Ariob incubator.

This collaboration will increase the growth and development of Project Catalyst Foundation-funded projects. The experience and resources of Venture Capital can be utilized by startups to help them create products that solve real African issues. The community decides which programs they enjoy and the creators get financial assistance to implement their ideas.

What is the reason for Africa?

Africa is poised to be the hub of blockchain technology. Africa is a vast continent which is experiencing the rapid development of innovative technologies. Africa doesn’t have to be tied down to outdated systems. It makes it more feasible for technological advancements to flourish there. The fields of technology, financial services and development hold great potential for modernizing both society and industry in general.

African countries offer huge potential to adopt and distribute cryptocurrency. Although only 2% of transactions involving crypto are conducted in the region, analysts at KuCoin discovered that the number of Africans using cryptocurrency in certain countries has grown by 2670% between 2022 and 2022.

“Digital assets are used in Africa at an alarming rate.” African countries have the highest rate of adoption of cryptocurrency in the world. They surpass regions like Europe, the USA as well as Europe.

This region has one the highest rates of the widespread adoption of cryptocurrency around the world. Three countries: Kenya is, Nigeria, South Africa (and Tanzania) have a place in the top 20 countries according to the Global Cryptocurrency Adoption Index. Chainalysis places them in the 5th-6th position 16th-16th, and 19th.

Republic of South Africa is on the top of the list in terms of the number of people who hold currencies and market volume. KLA conducted a study and discovered that 47 percent of South Africans are cryptocurrency holders. A third are planning to invest in cryptocurrency in the near future.

Input Output Global and the Ethiopian Ministry of Education announced an agreement last year to provide five million Ethiopian students the opportunity to demonstrate their academic qualifications using Atala the PRISM technology. IOG is also working in partnership with World Mobile Zanzibar for basic internet access using blockchain technology. 1000 internet providers offer connectivity in advanced countries across the globe, but this ignores almost half of Africa.

Charles Hoskinson founder and CEO of IOG has stated repeatedly that Africa could be able to perform an “economic miraculous” and catch up to the larger economies around the globe, such as China or the United States. Cardano is determined to support such a feat on the African continent.

In this regard, incubators are important. Project Catalyst & Ariob are two initiatives which offer Africa with not just economic tools, but also entrepreneurial and educational tools to help in the growth of ecosystems. https://www.pcb.its.dot.gov/PageRedirect.aspx?redirectedurl=https://www.sofi.com/crypto-guide/ made the following statement in their most recent launch

“The Ariob incubator, where the best projects will be selected to be part of the support program, which will last until the first half of 2022. This program provides services to develop creative potential and to test concepts. It also aids with the development of prototypes to determine the most efficient product. Ariob can help you connect your ideas with non-governmental organizations, educational institutions, and local businesses.

How is Cardano’s ecosystem doing?

Due to the upcoming Hydra update due to the Hydra update coming out, the Cardano community has been focused on sustainable growth and improving the overall system. Cardano is currently in the Basho stage. It’s goal is to build an optimized ecosystem to facilitate and support the development of decentralized applications (dApps). Cardano has seen significant growth already: around 1,000 projects are being developed on it.

NFT projects show the most activity with 47.9%. Both users and creators are betting on the potential of blockchain to yield amazing results. Cardano NFT is a hot spot for Snoop Dog, an American artist who has teamed up with Clay Nation in order to provide “iconic NFTs” online.

The growing number of users are attracted by cross-blockchain projects that enable transactions between different blockchains. Cardano is actively working in this direction. курс кардано , which is a second-level protocol that provides EVM capabilities for different blockchains, went live on Cardano’s main network in March at the end of March. It allowed users to launch Ethereum-based dApps on the Cardano ecosystem for the first time.

The lending industry is the third most common activity within the Cardano ecosystem. The future volume of the world credit sector market is expected at 26.08 trillion US dollars. The sector’s annual growth rate will be 24% from 2021-2028.