Thursday, June 17, 2021

Important Factors That Will Contribute to the Success of Cardano (ADA) in Africa

Cardano (ADA), the emerging smart contract platform, has made the first and important headway into Africa as envisioned, via the recent partnerships with Ethiopia’s Ministry of Education and World Mobile.

In relation to the progress mentioned above, a South African American citizen, living in Tanzania, identified with the username u/IndigoArete on Reddit, has highlighted a number of factors that would aid the success of Cardano (ADA) and the software firm Input Output Global (IOG) in Africa.

Read Also: Analyst: Cardano (ADA) Is Poised To Hit $5-$10 before the End of This Bull Cycle

According to the user on Cardano subreddit, the blockchain project has massive potential in Africa for many reasons. The user thinks Cardano could leverage the fact that many people outside East Africa are not well informed about the popularity of mobile payment systems and their benefits.

The user also acknowledged the significance of the partnership between Cardano (ADA) and World Mobile, which targets a region in Tanzania. He said this partnership will go a long way because Tanzania is one of the world’s leaders in mobile payment adoption by percentage.

Read Also: Interest In Cardano (ADA) Surging In Netherlands, Ireland, and Australia

Moreover, few people in the country currently use the traditional banking system because it is too expensive for middle-class citizens, except for the wealthy people in the country.

Additionally, the user stated that the median age in Africa as a whole is 18, while some countries in Africa have 15 as their median age, as the population in the continent increases. And it’s fairly believed that young people are generally more open-minded to innovation.

In conclusion, the user referenced the newly created African Continental Free Trade Area as an exciting development that will give enough room for Cardano to manifest at will. African Continental Free Trade Area is founded to create a single continental market for goods and services, with free movement of businesspeople and investments.

Read Also: Cardano Partners with World Mobile to Build a New Mobile Network in Africa

So, due to the reasons mentioned above, the user believes that Africa will continue to develop rapidly as a central power in the world of financial technology. And this serves as a justification to the keen interest of IOG in creating real-world applications, so that Cardano can be part of the ongoing progress in Africa.

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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