Cardano Cryptocurrency (ADA) promises that Web3 Africa will be a World Leader

Cardano’s number 1, Hoskinson, seeks to rebuild the economic and social infrastructure of African nations through blockchain technology. The latter sees Africa Web3 as a powerful force that will boost the development of the African continent and contribute to its digital transformation.

Cardano Blockchain Unlocks Poverty Chains in Africa

ADA Cardano cryptocurrency is currently doing well, with a price of $ 0.5 and a capitalization of almost $ 18 billion. Since last April, IOHK, a subsidiary of ADA, has signed a blockchain deployment agreement with the Ethiopian government. This agreement is changing the education sector in the country.

In fact, the Cardano blockchain, together with Africa Web3, creates irresistible records of the educational outcomes of 3,500 schools, or 5 million students and 750,000 teachers. With this technological advancement, Cardano signed, it is possible to find the places and identify the causes of poor school results. It also allows for the proper and efficient allocation of educational resources.

In Tanzania, IOHK also signs an agreement with local authorities to democratize access to digital, financial and social services in the country. This initiative aims to create a global market that is accessible to all, without geographical or cultural constraints.

Direct access to the Cardano cryptocurrency makes everyday life easier for Africans

US and EU citizens have the potential to create their education, identity and heritage and access loans. In Africa, it is an obstacle course. Few people have access to a bank account, decent credit, or documents that prove their inheritance. That is why Cardano set himself the goal of correcting the poverty trap in Africa and making the continent a world leader in artificial intelligence and advanced robotics.

Why is the project on track? Because the politics or geopolitics of the major nations do not influence the Cardano blockchain and the African Web3. Once the Cardano protocol is installed, millions of African users have assets that can be used immediately. Bet, since there are currently more applications than offers, according to Hoskinson, with 900 decentralized applications on the Cardano ecosystem.

This is an opportunity for Africans who are no longer forced to circumvent their payment. They have direct and easy access to assets. This is an opportunity not to go through the state or other centralized organizations that will take a percentage.

Conclusion

Web3 Africa is on the way to dismantling the Western market. The ADA it is a solid project, backed by a number of African leaders who see it as a real opportunity. The proof, Cardano and his cryptocurrency continue to increase in value. The token moved from $ 0.019 in March 2020, to $ 0.5 at the time of writing. So it is part of the top 10 most capitalized cryptocurrencies.

Get a summary of news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss any of the essential Cointribune!

Emile Stantina

Interested in investment and financial markets after a business school in Chambéry, the passion for cryptocurrencies was obvious. The blockchain is definitely the universal tool of tomorrow.