cardanoCharles Hoskinson, founder of ISLANDreveals that . The smart cow problem is when a group of individuals is faced with a technically difficult task, one of the members solves it. Hoskinson expects Cardano’s partnerships with African governments to influence regulators in the US.
Cardano founder Charles Hoskinson travels the African continent, meeting with regulators and forming partnerships with governments. Hoskinson believes governments violate privacy and censor public information. He points out that US regulators are yet to focus on building the blockchain industry.
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— Charles Hoskinson (@IOHK_Charles) October 16, 2021
Hoskinson, who is also the co-founder of Ethereum, relies on the “smart cow effect” for Cardano to influence regulators and governments around the world. Hoskinson stated in a recent YouTube Q&A session that Africa is uniquely prepared to adopt blockchain technology faster than any other continent.
In a blog post by Input Output Hong Kong (IOHK), the company behind Cardano, stated:
“Africa is a really special and interesting continent because it is going through a massive update. There is no dependency on systems of the past because those systems have historically not worked very well here. So that means that over the next 10, 20 years, everything is poised for change, from how compliance works to how stock markets work, from how national identity works to how academia works.”
The founder also denied recent rumors that a token burning policy will be implemented on Cardano. Cardano has no plans to burn tokens. The percentage of staked tokens continues to increase as the Cardano network prepares for its next update.
Besides, analysts predict that ADA could return to the top five cryptocurrencies in terms of market capitalization. Gert van Lagen, a cryptocurrency analyst and YouTuber, expects ADA to enter price discovery mode in the ongoing bull market. Lagen evaluated the ADA price trend and compared it to its performance in the 2017 bull run.
Lagen’s 2022 target for the ADA price is $22. The analyst expects Cardano’s native token to surpass $10 by the end of 2021, based on his analysis. Some market experts also predict that ADA needs to retrace $2.10 support to continue to rise.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.