Cardano (ADA) has been in the news and this is because the platform and the team behind the project have been treading on grounds that other cryptocurrencies are scared of venturing into. Investing in future technology concept appears to drive the coin to the less developed countries of the world. Charles Hoskinson believes blockchain technology will benefit the developing countries as opposed to the developed ones
Crypto based investment, according to the Cardano co-founder, is set to bridge the gap between developed and developing countries. By making inroads into technologically deprived markets, the network will create distinctive economies that will transform the living standards of the local participating communities.
Giving an example of Ethiopia’s coffee production and trading Charles adds that it is “on the one side very high tech, where the exchanges are employing super-computers,” which sits in contrast with production models on the ground where “it is super low tech … people use cell phones to get prices … there is no insurance, there is no lending, it is a broken chain – and just by placing this economy onto a blockchain that provides access to capital, you solve all of these problems in one fell swoop.”
Cardano (ADA) Awareness through Blockchain Symphony
With so many meat ups and conferences, Cardano is poised for mass adoption. In their latest move to woo more users, Cardano has announced the launch of a blockchain symphony. This is poised to make users more aware of blockchain workings and give insights to the digital money market to the ordinary user.
This is more than a virtual reality concept that will push for the implementation of crypto and Bitcoin physical interaction. Launched during the last Symphony of blockchains meeting in London, the team says:
“Using this as a metaphor provides a means to understand the blockchain. Blocks take on the properties of the data, their size, color, and orientation presents various qualities. Blocks are oriented in a spiral tracing back through time, each periodic rotation representing a day in the life of the blockchain.”
Why Cardano (ADA) Focus on Developing World
Cardano is focusing on the long term investment prospects in the third world. Early inroads to the virgin market will result into early adoption and users will have a cryptocurrency to identify with. This will in the near future translate into guaranteed expansion and adoption. With many coins focusing on developed countries, ADA usability in developing ones will influence the global markets using the power of the masses.
According to Charles’ latest video, the increasing number of projects funded by Cardano in Africa is a true testimony of the blockchain capabilities. Locals are benefiting from the projects and the technology based training means creation of employment and financially empowering all participants involved in the partnerships.
“The Cardano project’s specific ties to development projects and education in the use of its technology appears to make it one of the rarer blockchain projects to focus on how its technology can be understood and adopted by the markets more generally,” states blockchain market analyst Paul Trore. “The team’s development angle could make it a leading contender for mass adoption.”
Better Days for the Cardano (ADA) Holders
Just days after the IOHK team visit to London Google Offices, Cardano, through the co-founder has since met with Leon Fu and Tai Zen, the Co –founder brains behind the Cryptocurrency Markets channel on YouTube with the aim of getting support for various projects Cardano IOHK is undertaking. The CEO fell short of announcing a plan to build a science and engineering firm. This will be the coin’s arm dealing with crypto science with the hope of building a project similar to Ethereum on Cardano ecosystem.
Hoskinson is quoted as saying:
“We got one collaboration with IBM Research and Guardtime and we are studying decentralized software updates for the EU. But then we also do consultancy on our end, for example, Zen Cash has retained the science team and they are looking for options for them.”
There are several enterprises in the offing and these are targeting four potential markets; Africa, the Caribbean, South East Asia and South America. The goal is to build a strong user base that will spur the ADA price and its value.
Another project that Cardano (ADA) is working on is the Plutus, a programming language that will have a better rating compared to the vulnerable Ethereum smart contracts. By the end of the day, the platform will transition into the use of proof-of-stake. The co-founder adds that
“We started from first principles, we were at bedrock and we said what the hell blockchain is. Then is proof of work secure, and then is proof of stake secure. We just kind of walked our way up and we went from theory to practicality. Now we’re at a position where we not only fully understand proof of stake as a problem, we actually believe that we have a very good solution for it and we’re rapidly converging via the Shelly release to a full POS system”