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    Home » Crypto News » Charles Hoskinson: Cardano Can Help Millions of Africans Have Digital Identities

    Charles Hoskinson: Cardano Can Help Millions of Africans Have Digital Identities

    Author: Jordan Lyanchev

    Last Updated Mar 19, 2021 @ 10:40

    Cardano is working with several African governments to enable citizens to create digital identities linked to wallets or property by employing its blockchain, said Hoskinson.

    Cardano is working on new deals that will bring millions of users into its ecosystem, said the project’s founder Charles Hoskinson. He added that his team is negotiating contracts with several African nations to enable citizens to have digital identities linked to wallets and payment systems.

    Millions of Users Coming on Cardano

    While speaking during the annual Blockchain Africa Conference, Cardano’s founder touched upon the continent’s need for revolutionary technology that could enhance its developments, especially for certain nations.

    He noted that Cardano could provide a solution and his team is in talks with several African nations to integrate the Cardano-based digital identity management solution, Atala PRISM, into their daily operations.

    “For a large group of people, for the first time in their lives, they will have a digital identity that also can be linked to wallets, that also can be linked to payment systems, that also can be linked to property, that can enjoy rich metadata and other such things.”

    If successful, this endeavor can form a “new economy of over $5 trillion of wealth.” He believes that Africa has plenty of opportunities that are lost because of “bad systems.” However, this enables new technology to provide the necessary solutions if given a chance.

    Ultimately, Hoskinson asserted that his project is “at the cusp” of massive deals and initiatives that will “bring millions of users” into the Cardano ecosystem this year.

    ADVERTISEMENT

    Previously, Hoskinson noted that over 100 companies currently operating on top of Ethereum are “in the pipeline” of transitioning to Cardano’s blockchain.

    ADA’s Recent Roller-coaster

    Cardano’s native cryptocurrency has been on a roll since the start of the year, when it traded at $0.18. ADA jumped to a new all-time high in February of $1.50 before the subsequent market crash drove it to about $1.

    More recently, the asset has experienced highly-volatile several days. It started with a 20% surge on Tuesday when the largest US-based crypto exchange said it will list ADA on its Coinbase Pro platform.

    The cryptocurrency continued further north yesterday, came just inches away from the ATH, and became the third-largest digital asset by market cap.

    However, the bears took charge at this point, pushed the price south by more than 10% today, and ADA lost its spot in the top three, as reported earlier.

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      The Countdown: Cardano (ADA) to Reach Full Decentralization on March 31st
    Tags: Cardano Cardano (ADA) Price
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    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

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