How exactly does cardano benefit the developing world?
So im not a crypto expert by any means at all. I understand the minimums how this stuff works.
What got me really interested in cardano was that I heard its doing a lot to support less privileged nations in the world. I heard these nations dont have secure financial infrastructure and that cardano provides that.
I also heard they are helping Ethiopian school students by keeping track of grades and such on the blockchain? how exactly does that work? and how does ADA play a role in that.
I did read the essay on "why cardano" but didnt understand all of it. But at one point and I quote he says " Rather one ought to look to places where it is simply too expensive to deploy the existing banking system, where many live on less than a few dollars a day, have no stable identity and credit is impossible to find.
In these places, the power to bundle a payment system, property rights, identity, credit and risk protection into a single application running on a cell phone is not just useful, it is life changing. The reason we are building Cardano is that we feel we have a legitimate shot at delivering — or at least advancing — this vision for the developing world.
If we can change the way cryptocurrencies are designed, evolved and funded, then there is a great accomplishment."
that sounds really good and cool. But how does it work exactly?
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After years of building a foundation in Africa, Cardano and its developer Input Output Global (IOG) have been making considerable progress in this region. On April 30th, 2021, the company announced it...