Cardano has been a good asset this year, with the network development team having accomplished some notable goals. One of them is the Shelley upgrade that ushered in the era of stake pools and staking rewards on the Cardano network.
Behind the scenes, Cardano’s supervision team, led by founder Charles Hoskinson, has been traversing the globe curating and nurturing a support base for the network and its native coin, ADA. Key among the regions of focus for the team has been Africa.
Cardano In Africa
Africa has long been an ignored economic block despite its massive potential. Charles Hoskinson seems to notice the continent’s untapped potential, and he’s out to fully capitalize on it. He starts with Ethiopia. According to Charles, the fact that Cardano was able to push deals from negotiation to announcement during a difficult year is quite an achievement for the team. He said that he expects Cardano to soon be inking deals in Ethiopia.
On that note, it’s fair to opine that Ethiopia may not be the only country that Cardano has targeted in its African expansion. The network could as well announce a few more deals over the coming weeks or months.
Opportunity And Growth In Africa
One thing Charles Hoskinson is sure of is that Africa is headed to the brighter side, at least in terms of economic growth and market expansion. He expects the continent to become a serious global economic block before 2030. That’s a fair prediction considering that Africa has seen increased crypto adoption of late. At this pace, Africa will see plenty of growth and opportunities over the next decade.
For one, DeFi will get serious attention in Africa in the coming years as cryptos get more popular among the billion-strong population. Innovations in financial alternatives will also contribute to this growth. In fact, Africa is already at the top in terms of crypto transfers of volumes below $10,000.
110 Deals Unclosed In The West
Besides Africa, Cardano has been courting western markets to introduce the power of its capable network.
However, this charm offensive hasn’t been entirely successful. Charles says that Cardano has over 100 deals that are yet to be closed due to their unavailability because some western parties are not receptive to viable economic plans.