Africa to bring 100 million users to DeFi in three years from now, says founder of Cardano

Charles Hoskinson predicts that the Decentralized Finance sector will acquire 100 million users within the next three years by tapping into the developing world’s market potential.

“Who’s actually going to do peer-to-peer loans? Who’s actually going to do peer-to-peer insurance? Who’s actually gonna do peer-to-peer payments? I got news for you, not a guy living in New York”, pointed out Hoskinson in an exclusive interview with Cointelegraph. 

Cardano, the decentralized cryptocurrency network founded by Hoskinson, intends to take the lead in the DeFi space by developing partnerships in the African continent.

According to Hoskinson, DeFi products lack a significant customer base and the field has no chance at gaining traction in the West because of a cumbersome regulatory environment.

On the contrary, developing countries offer a much more flexible regulatory framework which facilitates crypto innovation.

“There’s no JPMorgan Chase. There’s no big massive legacy financial system that dominates and controls”, he pointed out.

Ultimately, according to Hoskinson, DeFi can “create liquidity for the poorest people in the world and allow them to build wealth and protect the wealth that they’ve acquired”.

“We built Cardano for this purpose”, he concluded.

To find out more about our conversation with Charles Hoskinson, check out the full interview on our Youtube channel and remember to subscribe!

Title: Africa to bring 100 million users to DeFi in three years from now, says founder of Cardano
Sourced From: cointelegraph.com/news/africa-to-bring-100-million-users-to-defi-in-three-years-from-now-says-founder-of-cardano
Published Date: Fri, 15 Jan 2021 19:47:20 +0000

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Donna Burk– Business News My Name is Donna Burk and I am also the main source from the ‘Dailynewssheet.com’ of all the exclusive and most delicate visualization of the activities in the business sector. My first step towards this journey was taken in the very early years of my life. I started with an independent financial consultant. However, I only had almost 4 years of skills and experience in this market. I have always been a free personality and like to fly one place to another, to explore more and more. Moreover, this passion and craze of traveling gave me a chance to report a section for best news associations. Last but not least, I am presently working full-time as an editor.

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