The CEO of Cardano developers IOHK sees a promising path towards DeFi adoption throughout the world's second-most populous continent
In one of his frequent Youtube missives to his following, CEO of IOHK — the developers behind the Cardano Blockchain — Charles Hoskinson revealed that the company’s long-term developmental focus will hinge on Africa, going so far as to say the world’s second-most populous continent might be the future for decentralized finance (DeFi) development.
““When we ask ourselves, ‘who will be the consumers of DeFi who will be in need of identity systems and payment systems and new ways of representing equities’ — will it be the ossified, highly regulated markets of the western world, which are invitation-only […] or will it be the agile and nimble countries of Africa, Southeast Asia, who have no incumbencies and are desperately to compete and thus are open and friendly to retooling and ideas?”
“Given that the human capital, physical capital, and economics are all moving in the right direction, it is my belief that Afria will be the most promising economic environment in the next ten years,” Hoskinson concluded.
Hoskinson isn’t alone in thinking that the next wave of DeFi’s adoption will begin in Africa.