Cardano is making a lot of talk about himself, as he earns points and more and more allies in Africa. To this day, Africa has remained a nearly untouched continent for most blockchain-based tech companies. However, Cardano appears to have identified a real growth opportunity on the continent. The news was given by IOHK CEO Charles Hoskinson in a short video on YouTube.
According to Hoskinson, Cardano is working with various governments on the African continent to develop digital entities that will open doors to millions of people. In this way, Africans will be able to expand the Cardano ecosystem.
The formation of new markets
Going on, Charles said this move will go a long way in helping millions of Africans who have not previously had access to digital resources and services in creating these long-awaited growth opportunities. These benefits will include the creation of digital identities that can be linked to rich metadata, digital wallets and payment systems.
Of course, this is likely to result in the emergence of a new, broader market based on the digital age. Charles estimated that the new market in Africa will be worth around $ 5 trillion. Something that makes it a top priority for the Cardano ecosystem as a whole.
Africa is not poor
Charles Hoskinson does not believe that Africa is a poor continent, as mostly represented by the world stage. According to him, it is the lack of proper use of resources that has blocked the growth of the black continent.
With a new and more advanced system, the African economy will have the ability to prevent bad decisions and curb mismanagement of resources. In this way, real wealth in Africa can be accessible to all, as there will be more responsibility. After all, the economies that have found an outlet are now also appearing in Europe and in the rest of the world, in an overwhelming way.
Lessons from China
According to Charles, Africa's current economic situation parallels that of China a few decades ago, when most people on Wall Street viewed China as a poor country.
Once China put measures in place to facilitate regular use of wealth, the country's economy was reborn and achieved steady growth for decades. China is now one of the largest economies in the world.
China also seems to want to develop its digital currency, but the terms are not yet known. Definitely, having reliable auto trading software like Bitcoin Revolution, which sooner or later will also include the Chinese yuan in their digital portfolio, will be a big advantage for investors.
We are sure that thanks to technological innovation, Africa will be able to have the same success that China has today and the world balance could really change in the future. Despite around the world (see USA and Russia), there are still those who think that a "centralized" power is the best thing.