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 unveils upcoming ‘awesome’ project
Charles Hoskinson introduces an Africa-based P2P funding project that will launch this year:
Another thing we’re doing on the horizon this year, which I think is incredibly interesting, is that we’re finally able to provide peer-to-peer (P2P) lending to Africa. We’re going to build a Blockchain-based identity system in Kenya using a purely 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 this, billions of money will flow from the industrialized world to the higher interest rate developing world… 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
According to Hoskinson, one of the most important contributions of Blockchain theology to the world is its trustless character:
This overarching idea of responsibility is being able to control what someone tells you. There are several 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.
cryptocoin.com According to the statements of Hoskinson, which we quoted as, Blockchain technology has emerged as a payment method only and goes beyond that:
As a society, we are starting to take a step back and ask questions like 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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