This Is How Cardano Plans to Attract 100 Million Africans into Crypto

News
Fri, 07/22/2022 - 15:22
Gamza Khanzadaev
Cardano continues its African campaign despite bear market
This Is How Cardano Plans to Attract 100 Million Africans into Crypto
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Cardano's African campaign continues to gain momentum. This time, it was announced that Adaverse, Cardano's ecosystem accelerator, has participated in the seed funding round for Afriguild, an African blockchain gaming guild and decentralized autonomous organization (DAO).

The organization's presence currently spans nine cities in Nigeria, the third largest country in Africa with a population of over 200 million people. By the end of the year, Afriguild also plans to expand into four more countries on the continent. In total, Afriguild aims to attract 100 million Africans into the crypto and web3 space.

Cardano ranks Africa high in its plans

Cardano's intentions for Africa are indeed serious, and the latest news adds to that impression. From the creation of Adaverse, whose activities are aimed solely at supporting African crypto start-ups, to Cardano founder Charles Hoskinson's personal trips to the continent and meetings on the tour with presidents of states, everything signals Cardano's ambitious plans to promote its technology in this part of the world that is underdeveloped in crypto terms but massive in human potential.

Cardano's African connections are not limited to private companies. Last year, the blockchain's parent firm, IOHK, announced a partnership with the Ethiopian Ministry of Education, and Hoskinson himself had meetings with the presidents of Zanzibar and Burundi.

If Cardano's presence in Africa continues to grow at this scale, there is no doubt that blockchain will gain a strong position on a continent of 1.5 billion people and secure a fair share of its crypto market.

About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.