Charles Hoskinson is optimistic about Cardano’s future and believes it will grow, despite showing some fears about “macro factors.”
Yesterday, cryptocurrency markets reacted negatively to the economic data released by the United States and the possibility that the Federal Reserve tighten its policies further. The market fell slightly, led by Bitcoin which again lost the $19.000 level.
Faced with this scenario, Charles Hoskinson, CEO of IOG, the company behind the development of Cardano, appeared on Twitter to reassure ADA holders, assuring that the current state of the market does not reflect the performance and sentiment of the community about your project.
However, for Hoskinson, the macroeconomic situation, with the Federal Reserve's statements about new interest rate hikes, have prevented the price of ADA from reflecting the enthusiasm of the community for the implementation of the Vasil update and the improvements it entails.
Hoskinson claims that markets are “out of touch with reality” when it comes to cryptocurrencies and claims that Cardano has never been stronger.
He also explains that, regarding the crypto sector, the focus should always be in the development of technology, in the problems it can solve and in all the people it can help.
For Hoskinson, the strength of crypto technology is that makes things possible that were previously impossible, which is why he claims that Cardano is changing the world and that “his best days are yet to come.”
Cardano and microfinance
One of those “world-changing” areas would be microfinance. In August, Hoskinson announced that his company had invested in pezesha, a Kenyan fintech focused on microfinance.
Hoskinson explained that “facilitating the movement of capital in emerging markets to support economic growth and job creation is a key promise of blockchain and cryptocurrencies.”
Cardano and Hoskinson's vision is that Technology facilitates a circular economy, people-centered, where everyone can lend to others in a regulated way, improving access to the economy for everyone. That's why IOG and Pezesha are collaborating to create a P2P financial system in Africa.
Access to finance remains a key barrier to small business growth in Africa. Data shows a funding gap of $330.000 billion for small businesses, which make up 90% of African companies.
Cardano's investment in Pezesha reflects Hoskinson's goal of Putting blockchain technology at the service of people, solving real problems. In fact, by collaborating with Cardano, the fintech will be able to access a debt liquidity market and offer affordable capital critical to the growth of all sectors of the economy.
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