Cardano had a very interesting 2021. Cardano’s native token, ADA had grown from less that 30 cents up to a record-breaking $3. The year was filled with remarkable firsts. Notable among them is the launch of smart contracts.
The year 2021 is drawing to an end, and investors begin looking ahead to the coming year. Charles Hoskinson the founder took to YouTube once more to share with 300,000 viewers what he expected for the next year.
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Cardano: DeFi
Both the network’s supporters and the deployment of Decentralized Finance (DeFi), on Cardano Blockchain has been long-awaited. As investors look forward to the debut of DeFi protocol, the expectations are growing with smart contract capability being launched in September. The goal remains a top priority for developers.
Hoskison spent time to discuss this crucial aspect of Cardano’s network, as he described his plans to provide affordable loans through DeFi. This goal is something Hoskison has set his sights on so that, by the end of the 2022 second quarter, the network will have functioning protocols where users can perform microfinance transactions using the blockchain.
“My goal for the second half of 2022 is to figure out how to put all the pieces together to get an end-to-end microfinance transaction on Cardano. So that a real person in Kenya or somewhere with a blockchain-based identity and credit score, stablecoin on the other side, Cardano is the settlement rail,” Hoskinson said.
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Spreading Africa
Charles Hoskinson of Cardano, the founder of Cardano, did not forget Africa. Africa is a continent of particular interest for blockchain. Hoskinson sees the mission of bringing peer-to-peer, decentralized financial services to Africa and spreading them across the continent. He refers to this spread of realfi (real finance) across the continent as “the dream.”
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The author also lists other projects that will be taking place on the network. Hoskison lists out plans to enhance the network’s smart contract platform known as Plutus, as well as the three Cardano improvement proposals (CIPS), taking a note from the Ethereum improvement proposals (EIP), that are being worked on by developers that will come into the project.
He also recognized the tremendous growth in the community since 2021. “We’re staging things appropriately, and we’re starting to see a refinement of the science of things,” he said. “The adoption’s there. The community’s there. We’ve grown to about two million people,” Hoskinson added.
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