Cardano has been a good asset this year with the network development team achieving some key goals. One of them is the Shelley update, which ushered in the era of staking pools and staking rewards in the Cardano network.
Behind the scenes, the audit team, led by Cardano founder Charles Hoskinson, travels the world for network and local coin ADA. Among the regions that the team focused on, the key region was Africa.
Cardano in Africa
According to the news in ZyCrypto, Africa is an economic obstacle that has been ignored for a long time despite its enormous potential. Charles Hoskinson appears to be realizing the continent’s undiscovered potential and wants to take full advantage of it. They will start with Ethiopia. According to Charles, Cardano’s ability to make deals during this difficult year is a huge success for the team. He said he expects Cardano to make several agreements in Ethiopia soon.
Ethiopia may not be the only country Cardano targets in its expansion in Africa. The network may announce several more deals in the coming weeks or months.
Opportunity and growth in Africa
One of the things Charles Hoskinson is sure is that Africa is moving in a more pleasant direction, at least in terms of economic growth and market expansion. Hoskinson expects the continent to become a serious global economic bloc before 2030. This may seem normal given that the use of crypto has increased recently in Africa. At this pace, Africa can see abundant growth and opportunities over the next decade.
According to the founder, first of all, DeFi will attract serious attention in Africa in the coming years as cryptocurrencies become more popular among billions of strong populations. Innovations in financial alternatives will also contribute to this growth.