The Cardano on an African tour in search of collaborations!

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Charles Hoskinson, creator of the Cardano crypto, is going on tour in Africa next week. Its objective is to form partnerships and support start-ups that use its blockchain.

Africa is an important issue for cryptos. Indeed, many African countries use cryptos and blockchain technology. Moreover, Charles Hoskinson, the creator of Cardano, is not mistaken! Next week, he begins a tour of Africa in order to create and strengthen collaborations with start-ups.

The creator of Cardano goes on tour in Africa

The announcement came through Twitter. After ending a two-week (voluntary) diet on social media, Charles Hoskinson announced an Africa tour. As he indicates in his message, this tour will take him from South Africa to Egypt!

For him, Africa would benefit a lot from the Cardano. Indeed, many African countries face a fragile economic system. At the same time, its population is young and ready to embrace blockchain technology.

“The first countries to hold credible, free, fair and verifiable national online elections are likely to be African nations. They will be the first countries to have a true digital identity and economy. »Charles Hoskinson, creator of Cardano

Recently, during the “Cardano Summit”, Charles Hoskinson announced an investment of up to $ 100 million for start-ups established in Africa. The investment is made through EMURGO, the commercial arm of the Cardano foundation.

The competitive DeFi sector

If Africa needs the Cardano, the Cardano needs Africa too. Indeed, Cardano is one of the cryptos say “Ethereum killers”. In the DeFi sector, the fight intensified sharply in 2021 and competition is stronger than ever. For example, in 2021, we saw recent cryptos like Solana experience huge success.

Exactly, what is the current landscape in the DeFi sector? We can distinguish 5 major cryptocurrencies. If we take the ranking in terms of capitalization, the situation is currently as follows:

  • Ethereum: 2nd with 383 billion euros;

  • Cardano: 4th with 61 billion euros;

  • Solana: 7th with 38 billion euros;

  • Polkadot: 8th with 34 billion euros;

  • Avalanche: 15th with 48 billion euros.

The Cardano therefore remains well placed, especially since the DeFi sector is too large to rely on only one network. However, in recent weeks, the Cardano has struggled to stay green. While the Solana exploded, the Cardano, for its part, gave up its 3rd place in global crypto in favor of Binance Coin. To prevail over time, the Cardano must succeed in seducing and convincing. What if the future of Cardano depended on Africa?


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