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- Cardano is seeking to pursue long-term growth within the global market
- The project plans to use blockchain and facilitate affordable loans to the world’s poorest
- The loans will be disbursed through decentralized finance
- 2022 would witness a formal open-source project structure that would be a kind of Hyperledger to Linux
Cardano has a tremendous bullish community that backs the project. Charles Hoskinson, the CEO of Input Output Hong Kong (IOHK) the firm behind the project seems looking forward to a busy 2022. Notably, the smart contracts project is seeking to pursue long-term growth within the global market. Notably, Hoskinson has recently mentioned about the milestones of 2021 to the community through its YouTube chat. Furthermore, the IOHK CEO also underscored the future goals on which the IOHK is working on.
Cardano would facilitate affordable loans
Among the plans for 2022, Hoskinson has some major goals. First, the project plans to use blockchain and facilitate affordable loans to the world’s poorest. Notably, these loans will be disbursed through decentralized finance (DeFi).
According to Hoskinson, his goal for the second half of the next year is to figure out how to put all pieces together to get an end-to-end microfinance transaction on his cryptocurrency project. He further explained that such a feature will help a real person in Kenya or somewhere with a blockchain-based identity and credit score, stablecoin. Indeed, Cardano could be the settlement rail.
In a Peer-to-Peer system just click a button, and the loan will go to the user. As the borrower returns the funds it will go to the other side.
Financial empowerment to poor nations
Hoskinson believes that financially empowering individuals across the continent of Africa could have far-reaching implications. Such implications might revolutionize our traditional financial world.
According to Cardano CEO, the upcoming project will be permissionless and cannot be shut off once it happens. The project will open up thousands of conversations. Such debates include what’s a good identity, what’s a good credit score, what other products and services should exist in real finance (RealFi), and how the team will spread such features across Africa.
Milestone’s count is huge
Cardano CEO has discussed a number of outlined technological milestones for the upcoming years. According to Hoskinson, 2022 would witness a formal open-source project structure that would be a kind of Hyperledger to Linux. Besides the community will see several institutions wiring in, and all the individuals that are currently working will be novated over. Indeed, Hoskinson itself will also get novated over.
Besides the pipeline, Cardano also has input endorsers that need to come in. Hoskinson concluded his chat by highlighting how following through on the initial tech goals would lead to achieve future goals in cascading fashion.
