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DeFi Future Depends on Africa, Cardano CEO Argues

DeFi Future Depends on Africa, Cardano CEO Argues DeFi News
  • Defi’s future will continue to rely on the African continent, said Cardano CEO Charles Hoskinson.
  • Defi’s main long-term developmental projects now focus on Africa.

Cardano CEO Charles Hoskinson recently made a decentralized finance (DeFi) case for Africa. He argues that Africa has a promising future for DeFi projects.

According to Hoskinson, he sees more adoption of Defi projects within the African continent in the coming days. Based on this, Hoskinson said, Defi’s long-term development focuses on Africa.

Hoskinson particularly said,

Given that the human capital, physical capital, and economics are all moving in the right direction, it is my belief that Africa will be the most promising economic environment in the next ten years.

Meanwhile, Hoskinson is not the only personality that sees the potential of DeFi to revolutionize the lives of many people on the African continent. Blockchain Think Tank Curve Labs CEO Patrick Rawson also continued that reaching the “last mile” of DeFi’s participants will help developers to extend their reach to the unbanked.

He also added that Defi’s adoption in African countries would pave a way for new partnerships within the Defi space. There is over $5.6 trillion wealth in Africa which is available to the broader markets, said Hoskinson.

Alongside this, Hoskinson showcased ADA performance in Africa. Here, he mentioned detailed lists of contracts that IOHK has managed to get.

Karikari Daniel is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.