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In one of his frequent Youtube missives to his followers, the CEO of IOHK, the developers behind Cardano Blockchain, Charles Hoskinson revealed that the company’s long-term development approach will depend on Africa, even saying that it is the second country. most populated in the world. continent could be the future for the development of decentralized finance (DeFi).
“When we ask ourselves, ‘Who will be the DeFi consumers who will need identity systems and payment systems and new ways of representing stocks?’ Will the ossified and highly regulated markets of the Western world be the only ones with Invitation […] Or will it be the nimble and nimble countries of Africa, Southeast Asia, which are unequivocal and desperate to compete and therefore open and friendly to reorganization and ideas? “
“Given that human capital, physical capital and the economy are moving in the right direction, I believe that Afria will be the most promising economic environment in the next ten years,” concluded Hoskinson.
Hoskinson isn’t the only one who thinks the next wave of DeFi adoption will start in Africa. In a previous interview with Cointelegraph, Patrick Rawson of the blockchain think tank Curve Labs said that reaching “the last mile” of users will require DeFi developers to tailor their products for unbanked and unbanked users.
However, details of how Cardano will grow on the world’s second most populous continent were scant. Hoskinson scoffed that Cardano has successfully built “networks and relationships” that provide the blockchain project with “strategic partners and relationships and political access in the right places.”
He added that he believed these connections would lead to “flagship deals”, which in turn would help achieve “much bigger deals.” While he points out that there is $ 5.6 trillion in wealth across the continent, little of which is available to global markets, he offered little as a roadmap for Cardano to capture that value.
The founder promised a dedicated Youtube episode in the future that will present the strategies and details of Cardano’s deployment in Africa with greater clarity and strategic details.
“As we see that 5.6 trillion wealth, I am hopeful that the representation of that wealth lives on on the Cardano blockchain,” he said.
Hoskinson previously discussed Cardano’s push in Africa in an AMA with the community, where he revealed details of the contracts that IOHK has managed to win so far, as well as an instance where the company received no bids. IOHK is also home to its headquarters in Addis Ababa, the capital of Ethiopia.
