Cardano Co-founder: Blockchain Technology Will Undergo Mass Adoption More Rapidly in Developing World

Cardano Co-founder: Blockchain Technology Will Undergo Mass Adoption More Rapidly in Developing World

In his latest feature length discussion of the Cardano project, Charles Hoskinson, one of the original founders of the Ethereum blockchain and later co-founder of Cardano, re-iterated his belief that crypto-based investments and technologies will bring  their biggest benefits to the developing world.

Citing the specific example of coffee production in Ethiopa, Hoskinson referred to a coffee trading economy that is “on the one side very high tech, where the exchanges are employing super-computers,” which sits in contrast with production models on the ground where “it is super low tech … people use cell phones to get prices … there is no insurance, there is no lending, it is a broken chain – and just by placing this economy onto a blockchain that provides access to capital, you solve all of these problems in one fell swoop.”

Cardano’s African Focus

In the video, Hoskinson also confirmed the Cardano project’s emphasis on developing nations as an important element in the blockchain technology’s future adoption and expansion.

Citing a number of Cardano-funded projects in Africa, Hoskinson outlined a development model that sees locals on the ground trained up in the technology, with “the best of these then employed to work on local development projects.”

“The Cardano project’s specific ties to development projects and education in the use of its technology appears to make it one of the rarer blockchain projects to focus on how its technology can be understood and adopted by the markets more generally,” states blockchain market analyst Paul Trore. “The team’s development angle could make it a leading contender for mass adoption.”