Why is Cardano cultivating Africa?
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The latest projects are being designed to improve the African region.
Input Output Global, the creator of Cardano (IOG), recently signed with Iceaddis -- an Ethiopian incubator that supports tech startups in order to provide support to local entrepreneurs and creatives. The Ariob incubator was established by the partners in order to assist the growth of projects supported by Project Catalyst the largest global decentralized innovation funds.
The purpose of this strategic partnership is to accelerate the growth of Project Catalyst Foundation funded projects. The expertise and resources of venture capital can be accessed by startups to help them develop solutions to real African problems. The community decides which programs they like and creators are awarded financial assistance to implement their concept.
What is the reason for Africa?
Africa is on the verge of becoming an important center for blockchain technology. It is a diverse continent that has seen a rapid adoption of cutting-edge technology. Africa isn't tied down to outdated methods. It makes it more feasible for technological advancements to be a success. The possibility of modernizing both industry and society is huge by implementing projects in the fields of finance, technology and development.
African countries are an excellent region to implement and distribute cryptocurrencies. This region currently accounts for just 2% of crypto transactions in the world, but analysts of KuCoin, the KuCoin cryptocurrency exchange have reported that the use of cryptocurrencies within Africans in some countries increased by 2670% by 2022.
"The acceptance of digital assets in Africa is growing exponentially. According to Johnny Lyu, KuCoin CEO, African countries have the highest levels of cryptocurrency adoption anywhere in the world. They have higher levels of adoption than regions like the USA, Europe, and Asia.
The region has one in five global cryptocurrencies adoption rates. Three countries: Kenya and Nigeria are among the top twenty countries on the Global Cryptocurrency Adoption Index (Chainalysis) with 5th 6th, 16th and 5th 16th, and 19th positions.
Republic of South Africa is the absolute leader in terms of market volumes and currency owners. KLA Research found that as high as 47% of South Africans are holders or are planning to hold cryptocurrency.
https://cryptonewsru.com/ , a global collaboration with the Ethiopian Ministry of Education and Input Output Global, announced in 2012 that five million Ethiopian high school students would be able to use Atala PRISM technology for verification of their academic qualifications. IOG is also working with World Mobile Zanzibar to provide basic online services via blockchain technology. 1000 providers provide internet access in developed countries worldwide but they do not cover almost half of Africa.
Charles Hoskinson, the founder and CEO IOG has repeatedly said that Africa could perform an economic miracle and be able to catch up to bigger economies like China or America. Cardano is committed to supporting such a miracle on the African continent.
In this regard incubator programs are essential. Project Catalyst or Ariob offer initiatives in Africa that not only provide financial tools but also educational and entrepreneurial tools to accelerate ecosystem growth. An IOG representative added the following comment to their latest launch:
"The Ariob incubator. This is where a small number of projects will be selected for the program of support. The program will run through the first quarter of 2022. This program provides services to help you realize your creative potential, test concepts, and make prototypes to determine the most effective product. Ariob can also connect projects with local companies as well as government agencies and non-governmental organizations.
What is the way that the Cardano ecosystem work in general?
Due to the upcoming Hydra update, the Cardano community has been focusing on ensuring sustainability and enhancement of the system. Cardano currently lies at the Basho stage. This stage aims to create an ecosystem that supports and encourages the development of decentralized applications (dApps). Cardano has already seen significant growth. As of now more than 1,000 projects have been developed using Cardano.
NFT projects account for 47.9 percent of their work that is due to creators and users betting on its promising performance. Cardano NFT has witnessed Snoop Dog, an American rapper, become a huge hit. Clay Nation collaborated with him in bringing "iconic" NFTs online.
People are more and more interested in cross-blockchain applications that permit transactions to be made using various blockchains. Cardano is taking a similar path. In March, at the end of the month, Milkomeda, a second-level protocol that provides EVM capabilities to blockchains other than EVM is launched on the main Cardano network. This allowed Ethereum-based dApps to run within the Cardano environment for the first time.
The lending industry is the third most frequented sector within the Cardano ecosystem. https://www.paypal.com/us/digital-wallet/manage-money/crypto is expected to grow up to 26.08 billion US dollars within the next few years. Additionally, the industry's average annual growth rate for the period 2021 and 2028 will be 24%..
Input Output Global, the creator of Cardano (IOG), recently signed with Iceaddis -- an Ethiopian incubator that supports tech startups in order to provide support to local entrepreneurs and creatives. The Ariob incubator was established by the partners in order to assist the growth of projects supported by Project Catalyst the largest global decentralized innovation funds.
The purpose of this strategic partnership is to accelerate the growth of Project Catalyst Foundation funded projects. The expertise and resources of venture capital can be accessed by startups to help them develop solutions to real African problems. The community decides which programs they like and creators are awarded financial assistance to implement their concept.
What is the reason for Africa?
Africa is on the verge of becoming an important center for blockchain technology. It is a diverse continent that has seen a rapid adoption of cutting-edge technology. Africa isn't tied down to outdated methods. It makes it more feasible for technological advancements to be a success. The possibility of modernizing both industry and society is huge by implementing projects in the fields of finance, technology and development.
African countries are an excellent region to implement and distribute cryptocurrencies. This region currently accounts for just 2% of crypto transactions in the world, but analysts of KuCoin, the KuCoin cryptocurrency exchange have reported that the use of cryptocurrencies within Africans in some countries increased by 2670% by 2022.
"The acceptance of digital assets in Africa is growing exponentially. According to Johnny Lyu, KuCoin CEO, African countries have the highest levels of cryptocurrency adoption anywhere in the world. They have higher levels of adoption than regions like the USA, Europe, and Asia.
The region has one in five global cryptocurrencies adoption rates. Three countries: Kenya and Nigeria are among the top twenty countries on the Global Cryptocurrency Adoption Index (Chainalysis) with 5th 6th, 16th and 5th 16th, and 19th positions.
Republic of South Africa is the absolute leader in terms of market volumes and currency owners. KLA Research found that as high as 47% of South Africans are holders or are planning to hold cryptocurrency.
https://cryptonewsru.com/ , a global collaboration with the Ethiopian Ministry of Education and Input Output Global, announced in 2012 that five million Ethiopian high school students would be able to use Atala PRISM technology for verification of their academic qualifications. IOG is also working with World Mobile Zanzibar to provide basic online services via blockchain technology. 1000 providers provide internet access in developed countries worldwide but they do not cover almost half of Africa.
Charles Hoskinson, the founder and CEO IOG has repeatedly said that Africa could perform an economic miracle and be able to catch up to bigger economies like China or America. Cardano is committed to supporting such a miracle on the African continent.
In this regard incubator programs are essential. Project Catalyst or Ariob offer initiatives in Africa that not only provide financial tools but also educational and entrepreneurial tools to accelerate ecosystem growth. An IOG representative added the following comment to their latest launch:
"The Ariob incubator. This is where a small number of projects will be selected for the program of support. The program will run through the first quarter of 2022. This program provides services to help you realize your creative potential, test concepts, and make prototypes to determine the most effective product. Ariob can also connect projects with local companies as well as government agencies and non-governmental organizations.
What is the way that the Cardano ecosystem work in general?
Due to the upcoming Hydra update, the Cardano community has been focusing on ensuring sustainability and enhancement of the system. Cardano currently lies at the Basho stage. This stage aims to create an ecosystem that supports and encourages the development of decentralized applications (dApps). Cardano has already seen significant growth. As of now more than 1,000 projects have been developed using Cardano.
NFT projects account for 47.9 percent of their work that is due to creators and users betting on its promising performance. Cardano NFT has witnessed Snoop Dog, an American rapper, become a huge hit. Clay Nation collaborated with him in bringing "iconic" NFTs online.
People are more and more interested in cross-blockchain applications that permit transactions to be made using various blockchains. Cardano is taking a similar path. In March, at the end of the month, Milkomeda, a second-level protocol that provides EVM capabilities to blockchains other than EVM is launched on the main Cardano network. This allowed Ethereum-based dApps to run within the Cardano environment for the first time.
The lending industry is the third most frequented sector within the Cardano ecosystem. https://www.paypal.com/us/digital-wallet/manage-money/crypto is expected to grow up to 26.08 billion US dollars within the next few years. Additionally, the industry's average annual growth rate for the period 2021 and 2028 will be 24%..
