Charles Hoskinson, founder of IOHK – the foundation behind Cardano- has shared some of the project’s goals in 2022 via a live Christmas broadcast on Youtube.
Hoskinson reflected on the growth of Cardano and the entire crypto industry. He mentioned the non-fungible token (NFT) revolution, the Decentralized Finance (DeFi) boom, and how hackers are targeting DeFi projects, leading to a loss of over $10.5 billion in 2021 alone.
Speaking on Cardano’s achievements this year, Hoskinson noted that over “two million assets” have been issued on Cardano, most of it being NFTs. He added that more than 127 projects are currently writing code to build decentralized applications (dApps) on the network, with about 20 to 30 in the pipeline to launch within the next three months.
Cardano’s Goals for 2022
According to Charles Hoskinson, some of Cardano’s key plans for the coming year include building institutions that support the project and launching a formal open-source project structure.
“Next year, what’s going to happen is that a formal open-source project structure is going to be formed, kind of like Hyperledger to Linux. We’re going to see many institutions wired in, and all the people that are currently working on it will be novated over, including me,” he explained.
Empowering African Nations
Africa has always been part of Cardano’s strategy, and next year the project looks to expand its footprints in the continent.
With many countries in Africa still lacking financial inclusion, Hoskinson revealed that the Cardano Foundation is planning to “build a financial operating system” in Q2 2022 that will give Africans access to DeFi services.
“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.
So that 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, loan goes to them. They pay it back, (and it) goes to the other side,” he said.
The Cardano Foundation is making moves to revolutionize and bring balance and equality to the world, focusing on Africa.
Earlier this year, Cardano inked a partnership deal with Tanzania to give residents access to social, digital identity, and financial empowerment. In August, IOHK partnered with the European Business University of Luxemburg to provide more educational options to students in African nations.
Reiterating Cardano’s long-term goal, the project’s founder noted that all the necessary equipment and tools it lacked back then are now available to achieve those goals.