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05/17/2023

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Cardano’s Innovative DeFi Platform Rescues Real Lives, Solving Africa’s Housing Crisis – Report - ELEVENEWS

Exorbitant mortgage rates in the African continent have crippled the housing market in the region. Popular crypto platform Coinbase has recently put some light on how Africa can come out of this crisis-like...

Cardano’s Innovative DeFi Platform Rescues Real Lives, Solving Africa’s Housing Crisis – Report - ELEVENEWS

Exorbitant mortgage rates in the African continent have crippled the housing market in the region. Popular crypto platform Coinbase has recently put some light on how Africa can come out of this crisis-like situation by leveraging the power of blockchain technology.

In its long Twitter thread, Coinbase specifically highlights the innovative efforts of the Cardano-powered decentralized finance (DeFi) platform Empowa which aims to effectively tackle this crisis of housing affordability in Africa.

By tapping into NFTs and blockchain technology, Empowa aims to make homes more accessible to Mozambicans and will also overhaul the country’s much older loan system.

3/ Enter: @empowa_io, a company making homes more accessible to Mozambicans by tapping into NFTs and blockchain technology to update an antiquated loan system. They work in partnership with @CasaReal13 to construct cyclone-resistant homes in central locations.

— Coinbase 🛡️ (@coinbase) May 12, 2023

To push further this initiative, Empowa has set further an ambitious goal of enabling 1 million African families to become owners of climate-smart homes by 2030. The company is determined to further disrupt the current real estate market of Africa that’s ridden with high mortgage rates.

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