IOHK Set For Expansion In Africa
The growing terrain of the cryptocurrency space has continued to be in the news of recent. Institutional adoption and investments in the digital assets of the cryptocurrency market, public figures social influencing the digital assets, friendly government regulations, and a host of other factors are beginning to affect the fortunes of the market positively.
The advantages, as mentioned earlier, have now seen the market size grow beyond its projected estimate. This growth has also propelled several crypto services and trading firms to expand their services and product lines to accommodate the growing business market.
IOHK at the verge of signing a deal in Africa
The latest to join this trend of expansion is IOHK, the parent company of Cardano. They have announced that they are close to securing a deal in the continent of Africa in a bid to expand their services in the continent. The report made known to the press by IOHK Africa’s Director, John O’Connor, also detailed that the deal is at the closing stages of its closure and is set to add more value to their lives users in the region and even beyond.
The continent has continued to be a hot prospect for Blockchain technology, with countries like Nigeria, Ghana, Kenya, and South Africa, leading to cryptocurrency adoption in the region. IOHK might be the latest Blockchain company set to invest in blockchain projects in the continent.
It should also be noted that many other cryptocurrency firms have plans to execute several blockchain projects in the continent touted to be one of the world’s leading space for Cryptocurrency to thrive by 2022, according to Buycoins Africa. The founder of IOHK, Charles Hoskinson, has also said that the current development is in its latter stages. His company is delighted to be working in Africa, a region with hot Blockchain potentials.
The future of Africa and Blockchain
The revelation from Charles Hoskinson has pointed towards the release of a blockchain solution tailored towards the continent’s cryptocurrency need. Africa has been touted to be a hot prospect with the potential of developing the cryptocurrency space. According to O’Connor, the project is also targetting about 15 countries in the continent before the addition of several other crypto friendly countries.
The future of Cryptocurrency has been questioned in Africa. Compared to other continents globally, it has a few countries with full adoption of Cryptocurrency into its space. Nigeria, one of the leading countries in Cryptocurrency in Africa, has recently been dealt with a huge blow by its government.
The government has banned citizens from buying Cryptocurrency with the country’s local currency, Naira. However, the future of cryptocurrency growth in Africa rests on the shoulders of IOHK and several other Blockchain technology firms tasked with creating new blockchain tailored solution for their clients in the region.
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