Cardano Creator Charles Hoskinson Reveals ‘Really Cool’ Upcoming Project, Outlines Biggest Problem Crypto Solves


Cardano (ADA) creator Charles Hoskinson is revealing an upcoming project with the potential to narrow the gap between the developed and the developing world.

Hoskinson says that an Africa-focused peer-to-peer lending project will be launched on the Cardano blockchain this year.

Track live crypto price of 10000+ coins!


“Another thing that I think is really cool on the horizon we’re doing this year is that we’re finally able to do peer-to-peer lending into Africa…

We will be able to demonstrate alone with a stablecoin on Cardano, done completely peer-to-peer, to a blockchain-based identity in Kenya.”

According to the Cardano creator, the peer-to-peer lending project on the seventh-largest blockchain by market cap will help in narrowing income and wealth inequalities among countries.

“The long and short is if you get that done then, in short order, billions of dollars of value will go from the developed world to the developing world where the interest rates are higher…

That gets me very excited because that helps us bridge the gap and create that one global economy. As opposed to two economies of the haves and the have-nots.”

Hoskinson also says that the trustless nature of blockchains is one of the technology’s biggest contributions to the world.

“This concept of inclusive accountability, your ability to verify something someone tells you…

There are so many things in life from credentials to voting to money where you actually find out that you’re actually trusting a third-party institution you’re not actually able to verify that…

Bitcoin is a great example. Ethereum, Cardano or any of these cryptocurrencies where you have inclusive accountability for the accounting. If I send you a Bitcoin, you don’t trust me. You have a node. You can check it, and you can verify it exists, and it hasn’t been double-spent. So that’s called an inclusively accountable system.”

According to the Cardano creator, blockchain technology’s use cases are now being extended beyond payments.

Related:  Bitcoin's Consolidation at $29K Continues, is a Recovery Inbound? (BTC Price Analysis)

“We’re starting to take a step back as a society and start asking questions like, well what else can preserve inclusive accountability? Whether it be supply chains – like is the food organic or not? Is it safe or not? Is the water I’m drinking safe or not? These types of things. Medical information, credentials, voting information, whatever have you. The land – how do I know you really own the property? These types of things.”

I

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/klyaksun/Natalia Siiatovskaia




Download MAXBIT Android App, Your best source of all crypto news!

Google Play

Source link

Share this article: