Cardano (ADA) inventor Charles Hoskinson shared a promising initiative that has the potential to bridge the gap between the developed and developing worlds.
Cardano founder announces upcoming “awesome” project
Charles Hoskinson introduces an Africa-based P2P financing project that will launch this year:
What we’re doing on the horizon this year and I think is incredibly interesting another thing is that we will finally be able to provide peer-to-peer (P2P) lending to Africa…We will build a Blockchain-based identity system in Kenya using a fully peer-to-peer stablecoin in Cardano.
According to the developer of Cardano, the seventh-largest altcoin project by market capitalization will help reduce global income and wealth inequalities:
If you do, interest rates from the industrialized world billions of money will flow into the developing world, where it is higher… This excites me because it allows us to close the gap and build a single global economy. Unlike two economies, one for the rich and the other for the poor.
Charles Hoskinson tackles the biggest problems crypto solves
One of the most important contributions of blockchain theology to the world, according to Hoskinson, is the trustless character:
This idea of inclusive responsibility is what someone gives you. being able to control what you say… There are few instances in life where you will discover that you trust a third-party entity that you cannot control, ranging from credentials to voting to money… Bitcoin is a good example of this. Ethereum, Cardano or any other cryptocurrency where you have full accounting transparency. If I send you Bitcoin, you won’t trust me. You own a node. You can verify by checking that it exists and that it has not been spent twice. Therefore, we call it a system that is both inclusive and responsible. According to Hoskinson’s statements, which we cited as
Kriptokoin.com, Blockchain technology has emerged as just a payment method and goes beyond that:
We begin to ask questions such as what else can maintain inclusive accountability. Be it supply chains – is the food organic or not? Is it safe or not? Is the water I drink safe or not? That kind of stuff. Medical information, credentials, voting information, whatever you have. Land – how do I know the property really belongs to you?
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