Will Africa Play A Significant Role In Cardano’s Growth?
Cardano (ADA) has been on a rising beam in the last few weeks, creating a new all-time high and almost leaping beyond the $3 price mark. The catalyst driving the growth of the third-largest cryptocurrency is the scheduled Alonzo upgrade aimed at introducing smart contract functionality on the blockchain. While the upgrade has been in the works since May, the announcement of the actual date for the launch of the main net is the linchpin for ADA’s growth.
Since its creation, Cardano has prided itself as an Afrocentric project. Input-Output Hong Kong (IOHK), Cardano’s parent company has been significantly involved in the development of Africa’s crypto and blockchain industry spanning several years. But the question is ‘Will Africa contribute to a fast-paced growth of Cardano, even to the point of it surpassing the largest altcoin, Ethereum?
Cardano began its African journey in 2017 and has rolled out several projects to date. Notably, an African-based Artificial Intelligence has been going on behind the scenes, with Cardano collaborating with SingularlyNET, a decentralized marketplace for AI algorithms, to ensure the success of the project.
A partnership deal was struck with Word Mobile to develop an information infrastructure for Africa, especially in remote regions. Cardano is also overseeing another project that endorses local tech startups in about 5 countries in Africa, assisted by Iceaddis, an Africa-based technology incubator. 20 more countries will be added to the program in the coming years.
Cardano is likewise involved in charitable initiatives such as Save the Children, and another with the Ethiopian government for education. A blockchain-inspired identification framework for more than 5 million teachers and students is being introduced in Ethiopia.
Blockchain adoption is still at the infancy stage in Africa, and IOHK and Cardano are concretely spearheading a widespread adoption for the region. It is not difficult to see what this bodes for the price of ADA. Africa will certainly be in the driving seat leading ADA to dominate Ethereum in the future.
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