Why is actually Cardano building Africa?
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Cardano is getting renewed by introducing new projects to support the growth of the African Region.
Input Output Global (IOG) the company that developed Cardano is a recent signatory with Ethiopian incubator iceaddis to assist local entrepreneurs and creatives. In https://n26.com/en-eu/blog/what-is-a-crypto-wallet of Project Catalyst, the largest decentralized innovation fund in the world, the three partners created the Ariob incubator.
This partnership will help to increase the growth and development of Project Catalyst Foundation funded projects. Experts and resources from the venture capital industry are accessible to startups in order to help their creation of products that can solve real problems in Africa. The community decides which programs they prefer and creators receive financial assistance to implement them.
What is the reason for Africa?
Africa is on the verge of becoming a center of blockchain innovation. It is a huge continent with many different styles of life, which can facilitate the rapid adoption of new technology. In Africa there is no attachment to outdated systems, therefore it is much more easy for technological advancements to be able to grow and establish an encroachment. For society and industry projects, the fields of technology, financial services and development hold enormous potential.
African countries hold a tremendous potential to adopt and distribution of cryptocurrencies. The region is currently home to just 2% of cryptocurrency transactions worldwide however, analysts from KuCoin, the KuCoin cryptocurrency exchange have reported that the usage of cryptocurrencies among Africans in certain countries increased by 2670% in 2022.
"Digital assets are being adopted across Africa at an alarming rate." African countries have the highest level of cryptocurrency adoption in the world They are also ahead of other regions like the USA, Europe and Asia," said KuCoin CEO Johnny Lyu.
The region boasts one of the highest percentages of the widespread adoption of cryptocurrency around the world. 3 countries: Kenyan, Nigeria, South Africa, and Tanzania have been ranked in the top 20 countries of the Global Cryptocurrency Adoption Index by Chainalysis. They are ranked 5, 6 16, 16 and 19 respectively.
Republic of South Africa and South Africa are the leaders in terms of currency holdings and market size. KLA Research found that 47% of South Africans hold or intend to hold cryptocurrencies.
Input Output Global announced last year that it had partnered with Ethiopia's Ministry of Education. This partnership will allow five million Ethiopian students the chance to demonstrate their academic credentials by using the Atala-based Atala PRIM technology. IOG also has a partnership with World Mobile in Zanzibar, to offer basic online services using blockchain technology. This is due to the fact that 40% of percent of Africans do not have access to the internet. 1000 internet providers across the world cover developed countries, completely disregarding almost half of the continents.
Charles Hoskinson founder and CEO of IOG has repeatedly said that Africa could experience an "economic miracle" and catch up to the larger economies around the globe, such as China or the United States. Cardano is in favor of as a "miracle on the African continent."
In this context incubator programs are vital. Project Catalyst or Ariob offer projects in Africa not only financial tools , but also education and entrepreneurial resources to help accelerate ecosystem growth. IOG's representative has added the following comment: IOG has added the following statement on their latest launch:
"The Ariob incubator, where a certain number of projects will be chosen to take part in the program of support, which will run through the beginning of 2022. This program provides services to help you realize your the creative potential of ideas, try out ideasand prototypes to identify the best product. Ariob assists in linking projects with educational institutions as well as non-governmental organizations.
What are the current conditions in the Cardano ecosystem generally?
Cardano is working currently on Hydra updates and is focusing on sustainability and improving the overall system. Cardano is currently at the Basho stage, which aims to create an optimal ecosystem to support and facilitate the creation of decentralized applications (dApps). Cardano has already over 1,000 projects.
NFT projects are the most active with the highest level of activity -- 47.9 percent, as both creators and users are betting on the potential of the blockchain. The most well-known and popular rapper of Cardano NFT is Snoop Dog. The singer has joined forces with Clay Nation to offer "iconic NFTs" online.
The growing number of users are also attracted by cross-blockchain projects that enable transactions on various blockchains. Cardano is also working in this area. The end of March, Milkomeda, a second-level protocol offering EVM capabilities for blockchains other than EVM, was launched on the main Cardano network. It allowed users to integrate Ethereum-based dApps within the Cardano ecosystem.
The lending industry is the third well-known sector of activity in the Cardano ecosystem. The future volume of the world credit sector market is estimated at 26.08 trillion US dollars. The industry's annual increase will be 24% from 2021-2028.
Input Output Global (IOG) the company that developed Cardano is a recent signatory with Ethiopian incubator iceaddis to assist local entrepreneurs and creatives. In https://n26.com/en-eu/blog/what-is-a-crypto-wallet of Project Catalyst, the largest decentralized innovation fund in the world, the three partners created the Ariob incubator.
This partnership will help to increase the growth and development of Project Catalyst Foundation funded projects. Experts and resources from the venture capital industry are accessible to startups in order to help their creation of products that can solve real problems in Africa. The community decides which programs they prefer and creators receive financial assistance to implement them.
What is the reason for Africa?
Africa is on the verge of becoming a center of blockchain innovation. It is a huge continent with many different styles of life, which can facilitate the rapid adoption of new technology. In Africa there is no attachment to outdated systems, therefore it is much more easy for technological advancements to be able to grow and establish an encroachment. For society and industry projects, the fields of technology, financial services and development hold enormous potential.
African countries hold a tremendous potential to adopt and distribution of cryptocurrencies. The region is currently home to just 2% of cryptocurrency transactions worldwide however, analysts from KuCoin, the KuCoin cryptocurrency exchange have reported that the usage of cryptocurrencies among Africans in certain countries increased by 2670% in 2022.
"Digital assets are being adopted across Africa at an alarming rate." African countries have the highest level of cryptocurrency adoption in the world They are also ahead of other regions like the USA, Europe and Asia," said KuCoin CEO Johnny Lyu.
The region boasts one of the highest percentages of the widespread adoption of cryptocurrency around the world. 3 countries: Kenyan, Nigeria, South Africa, and Tanzania have been ranked in the top 20 countries of the Global Cryptocurrency Adoption Index by Chainalysis. They are ranked 5, 6 16, 16 and 19 respectively.
Republic of South Africa and South Africa are the leaders in terms of currency holdings and market size. KLA Research found that 47% of South Africans hold or intend to hold cryptocurrencies.
Input Output Global announced last year that it had partnered with Ethiopia's Ministry of Education. This partnership will allow five million Ethiopian students the chance to demonstrate their academic credentials by using the Atala-based Atala PRIM technology. IOG also has a partnership with World Mobile in Zanzibar, to offer basic online services using blockchain technology. This is due to the fact that 40% of percent of Africans do not have access to the internet. 1000 internet providers across the world cover developed countries, completely disregarding almost half of the continents.
Charles Hoskinson founder and CEO of IOG has repeatedly said that Africa could experience an "economic miracle" and catch up to the larger economies around the globe, such as China or the United States. Cardano is in favor of as a "miracle on the African continent."
In this context incubator programs are vital. Project Catalyst or Ariob offer projects in Africa not only financial tools , but also education and entrepreneurial resources to help accelerate ecosystem growth. IOG's representative has added the following comment: IOG has added the following statement on their latest launch:
"The Ariob incubator, where a certain number of projects will be chosen to take part in the program of support, which will run through the beginning of 2022. This program provides services to help you realize your the creative potential of ideas, try out ideasand prototypes to identify the best product. Ariob assists in linking projects with educational institutions as well as non-governmental organizations.
What are the current conditions in the Cardano ecosystem generally?
Cardano is working currently on Hydra updates and is focusing on sustainability and improving the overall system. Cardano is currently at the Basho stage, which aims to create an optimal ecosystem to support and facilitate the creation of decentralized applications (dApps). Cardano has already over 1,000 projects.
NFT projects are the most active with the highest level of activity -- 47.9 percent, as both creators and users are betting on the potential of the blockchain. The most well-known and popular rapper of Cardano NFT is Snoop Dog. The singer has joined forces with Clay Nation to offer "iconic NFTs" online.
The growing number of users are also attracted by cross-blockchain projects that enable transactions on various blockchains. Cardano is also working in this area. The end of March, Milkomeda, a second-level protocol offering EVM capabilities for blockchains other than EVM, was launched on the main Cardano network. It allowed users to integrate Ethereum-based dApps within the Cardano ecosystem.
The lending industry is the third well-known sector of activity in the Cardano ecosystem. The future volume of the world credit sector market is estimated at 26.08 trillion US dollars. The industry's annual increase will be 24% from 2021-2028.
