In one of his frequent Youtube posts to subscribers, CEO of IOHK – the developers of Cardano Blockchain – Charles Hoskinson said that the company in the long run will focus on Africa and says that it is the second most populous country in the world, this continent could be the future decentralized economic development (DeFi).
“When we ask ourselves, ‘Who wants to be a DeFi consumer who needs new identification systems, payment systems and new ways of presenting stocks,’ it will be the highly regulated petrified markets of the Western world we are only invited to [.. .] or will there be flexible and smart countries in Africa and Southeast Asia, which do not have vacancies and which compete fiercely, so they are open and friendly towards refurbishment and ideas? ”
“Given that human capital, physical capital and the economy are moving in the right direction, I believe Africa will be the most promising economic environment for the next ten years,” Hoskinson concluded.
Hoskinson is not the only one who believes the next wave of DeFi adoption will begin in Africa. In an earlier interview with Cointelegraph, Patrick Rawson of the Curve Labs Blockchain Research Center said that reaching users’ last mile will require DeFi developers to develop their products for non-bank users.
However, there were scarce details of how Cardano grew on the world’s second most populous continent. Hoskinson joked that Cardano was building “networks and relationships” that would give the blockchain business “strategic partnerships, relationships and political reach in the right places.”
He added that he believes the relationship will lead to “big deals”, which in turn will lead to “much bigger deals.” Pointing out that the continent has a fortune of $ 5.6 trillion and little is available for global markets, he gave little in the form of a roadmap to Cardano to get that value.
The founder’s promise to dedicate a future Youtube release that will lay out the strategies and details for Cardano’s launch in Africa with greater clarity and strategy details.
“Given that we see 5.6 trillion in wealth, I hope the representation of that wealth will live on in the Cardano blockchain,” he said.
Hoskinson had previously discussed Cardano’s African campaign at the AMA with the community, revealing details of contracts IOHK has won so far, as well as a case where the company received a lower bid. IOHK is also headquartered in Addis Ababa, the capital of Ethiopia.