Charles Hoskinson looks forward to a busy 2022 as the Cardano smart contract platform (ADA) pursues long-term growth in the global market.
In a new solo YouTube chat, Cardano founder and CEO of Input Output Hong Kong (IOHK) recount its 300,000 subscribers on the milestones of 2021 and the future goals towards which it is working.
A major goal on Hoskinson’s list is to finalize plans to use blockchain technology to facilitate affordable lending to the world’s poorest through decentralized finance.
“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. For 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. Peer to peer, person to person, click a button, the loan is theirs. They pay him back, [it] go to the other side.
The CEO believes that the financial empowerment of people across the African continent could have far-reaching implications that could revolutionize traditional finance.
“It’s without permission, and you can’t stop it once it’s happened. He opens a thousand conversations, [like] what is a good identity? What is a good credit score? What other products and services should exist in the realfi (real finance) space in Africa? And how can this be spread across Africa? This is the dream.
Hoskinson then discusses a number of tech milestones for the coming year.
“Next year, what’s going to happen is that a formal open source project structure is going to be formed, much like Hyperledger to Linux. We are going to see many institutions connected, and all the people who work there now will be renewed, including me …
When you look at things like improvement [Cardano’s smart contract platform] Plutus, there are already three CIPS [Cardano improvement proposals] thanks to the work we have done with the developers who are to join us.
We’ve got pipeline that’s got to come in, endorsers that’s got to come in. Peer-to-peer is currently being tested with the participating pool operators on testnet, and a lot is happening there.
Hoskinson concludes by noting how tracking initial technical goals helps achieve future goals in a cascade.
“We started with accuracy as our highest priority and now that [it] has been achieved, we move on to performance optimization, usability and those factors.
It’s a fast paced iteration game. You do a little. You get a huge advantage …
We are organizing things appropriately and we are starting to see a refinement in the science of things. The adoption is here. The community is there. We have grown to about two million people.
At the time of writing, Cardano’s native ADA token is trading at $ 1.40.
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