Fortune 500 companies look forward to further expanding into developing countries like Africa and the Middle East as the need for a faster, cheaper payment system for local transactions increases. In this context, IOHK CEO Charles Hoskinson has announced that his company will begin “aggressively pursuing the Fortune 500” in order to sell Cardano and the ADA digital token as a solution.
In an interview with Forkast.News, Hoskinson said, “A Fortune 500 company needs new tools to enter this market and work with these consumers. We can make this possible because we have been active in these countries, especially Ethiopia, for over three years. “
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Hoskinson, the creator of Cardano, an open source public blockchain, the leading candidate on the list of potential Ethereum killers, said, “If we can maintain and build on this dynamic, we will really give Ethereum and the rest of these guys in Race for your money. “
Developing economics like Africa has been part of Cardano’s strategy since it was founded in 2017. According to Hoskinson, there is growing acceptance of cryptocurrencies among young Africans. He said Africa was ripe for decentralized finance (DeFi) due to its fragmented economy and underdeveloped banking system.
“How do you put on the Fortune 500? You do it by saying, ‘Hey, would you like access to the 100 million customers on my platform who now have money and want to consume your products?’ “
Cardano has built bridges in the blockchain world
Cardano has also worked to build bridges within the blockchain world. A good example is the collaboration with the Litecoin Foundation to achieve interoperability between the blockchains.
Hoskinson said, “If it works with Litecoin, it will likely work with Bitcoin or Dash or one of those other types.”
Also read: Analysts say why Cardano (ADA) and Ethereum (ETH) are the biggest players to watch in 2021
While Cardano is eager to build a future of interoperable blockchains, Hoskinson emphasized that cryptography must evolve before quantum computers and quantum technology emerge. He believes that a breakthrough in math and calculations could decipher encrypted data that protects sensitive information.
“You want to upgrade your cryptography and start using post-quantum crypto – that is, cryptography that is immune to quantum computers – as soon as possible.”
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