Why is Cardano developing Africa?
https://www.pcmag.com/how-to/how-to-buy-sell-and-manage-bitcoin is being replenished with new projects aimed at the development of the African region.
Input Output Global's Cardano developer, Input Output Global (IOG) has signed a deal with Ethiopian incubator iceaddis in support of local creatives. In the context of Project Catalyst, the largest innovative fund that is decentralized in the world, the three partners created the Ariob incubator.
This partnership will increase the growth and development of projects funded by the Project Catalyst Foundation. Startups will have access to expertise in venture capital and resources to create products that can solve real problems in Africa. The community selects the programs they would like to see, and creators get financial assistance to implement their concepts.
Why Africa?
Africa is poised as the center of blockchain-related innovation. It is a huge and diverse continent where there is an accelerated introduction of new technologies. Africa is free of obsolete systems and it's more suited for technological advancements to develop in the continent. There is a lot of opportunity for modernization of the economy and society with projects in finance, technology services and development.
The potential for the adoption of cryptocurrency and distribution is immense in Africa. Although only 2% of cryptocurrency transactions that are made in the region, KuCoin cryptocurrency exchange analysts report that Africans are using cryptocurrencies in a few countries up to 2670 percent in 2022.
"Digital assets are being embraced across Africa at an unprecedented rate." African countries are the most popular for cryptocurrency adoption. They outnumber other regions like Asia, Europe, America as well as Asia," stated Johnny Lyu CEO of KuCoin.
The region is home to one of the most high levels of widespread adoption of cryptocurrency. 3 countries: Kenya (Nigeria, South Africa, Tanzania) are among the top 20 countries of the Global Cryptocurrency Adoption Index. It ranks them at 5 6, 16, and 19th respectively.
Republic of South Africa and South Africa are the leaders in terms of their currency holdings and market size. According to research conducted by the research firm KLA about 47% of the population in South Africa are holders of cryptocurrency, and another third plan to invest in them in the future.
cardano майнинг and the Ethiopian Ministry of Education announced an agreement last year to offer five million Ethiopian students the chance to prove their academic credentials using Atala the PRISM technology. IOG also works in conjunction with World Mobile in Zanzibar, to offer basic online services that utilize blockchain technology. This is due to the fact that 40% of% Africans do not have access to internet access. 1000 providers offer internet connectivity in advanced countries across the globe but they do not cover almost half of Africa.
Charles Hoskinson, founder and CEO of IOG has stated repeatedly that Africa could perform an "economic miracle" and catch up to the larger economies of the world, such as China or the United States. Cardano plan to help support the possibility of a "miracle" on the African continent.
Incubator programs are crucial in this respect. Initiatives such as Project Catalyst and Ariob provide projects in Africa that not only provide financial tools but also education and entrepreneurial tools to speed up ecosystem growth and sustainability. This comment was made by an IOG representative for their most recent launch.
"The Ariob incubator. A few projects are chosen to take part in the support program. It runs until 2022's first half. The program provides services that aim to help you realize your creative potential, testing ideas and making prototypes to determine the best product. Ariob assists in linking projects with educational institutions and non-governmental organizations.
What is the general situation of the Cardano ecosystem?
Cardano is currently working on Hydra updates and is focusing its efforts on sustainability and improving the system. Cardano currently lies in the Basho stage. This stage aims to create an ecosystem that supports and facilitates the creation of decentralized applications (dApps). Cardano has already over 1,000 projects.
NFT projects are among the top activity rate of 47.9%. Because users, creators and others are betting on the promising performance of Blockchain technology, this is the highest level. American rapper Snoop Dog has become a celebrity in Cardano NFT since the artist works with Clay Nation to present "iconic" NFTs on the web.
The public is more and more interested in cross-blockchain applications that permit transactions to be conducted between various blockchains. Cardano has also been working in this area. Milkomeda was launched on the Cardano main network at the end of March. It is a second level protocol providing EVM features to different blockchains. It allowed users to create Ethereum dApps within the Cardano ecosystem.
The lending sector is third on the list of Cardano's most favored activity. The market for global credit is expected to increase by 26.08 Billion US dollars in the next few years. Additionally, the industry will experience the growth rate of 24% per year rate between 2021 and 2028.