Cardano Blockchain Takes Major Leap into Ethiopia’s Economy with IOHK’s Charles Hoskinson
With so many countries getting into cryptocurrency and digital assets, the value it can give a community is clear. Even though some critics believe that the inclusion of cryptocurrency takes away from their community, it actually provides an opportunity for consumers to be involved with other countries. Recently, Input-Output, which is a tech company in Hong Kong, put out a video that described the necessity for Africa’s involvement with the rest of the world and blockchain.
The whole point of the blockchain is to help create safer and more trusted systems, where the ability to trust the people that run them are unestablished. Aside from the competitive nature of the crypto assets that use it, the IOHK brand has a goal of helping people out of bad systems. Over three billion people along have no banking options, which means that they lack the verifiable identity and financial security to get out of their poverty.
In fact, to even fathom the idea of getting out, a massive amount of financial help would be involved, or they would have to seek a home outside of the country.
Charles Hoskinson, of Cardano, doesn’t want this future for the developing world. He seeks to make opportunities that lets citizens get their head above water and learn to make their own fortune. With unattached blockchain technology, they could. Hoskinson said:
“This technology has no owner. This technology has no central point of failure. This technology has no one in control. Instead, it’s infrastructure, global infrastructure that no matter what, how rich you are or poor you are, use the same infrastructure,”
In order to build upon this idea, Hoskinson is dedicated to building up the right network of contributors from his and the IOHK ends that will figure out the best way to apply blockchain systems. The main attention is focused on the agri-tech industry, where solutions for credit, insurance, and similar areas will need to evolve. Once fixed, these changes could bring in up to 300% more revenue.
The only challenge, according to Hoskinson, is “getting money that lives on the internet.”