On Friday, March 19, Charles Hoskinson, founder of the Cardano Project (ADA), co-founder and CEO of IOHK, described a scenario telling him that Cardano achieved success by doing something unique, charming, and special.

Hoskinson’s comments came in a video he posted on his YouTube channel on Friday, addressing how Cardano can be said to have achieved success.

Hoskinson opened his talk about the lending platform kiva Which provides its services peer-to-peer (P2P), and said about:

As many of you know, I am a big fan of the Kiva platform.

I use it all the time.

Read:Once again, the Chinese company “Meitu” buys more Bitcoin and Ethereum and doubles its investments

He follows that up by saying:

I think to myself the moment I know Cardano has really made a difference and changed the world.

This can be by opening an app like Kiva for now.

Where I can have a direct relationship with someone somewhere in the world that person is asking for relief, and I can actually give them not a gift, not a charity, but a loan to them and they pay me back and I can do it over and over again and gain more than I lose.

That for me is success for Cardano.

Then he goes on to explain why:

Because a lot has to happen to us to get to that moment.

Like building an identity system.

We have to make sure that the metadata system is where we should go.

There has to be a proper payment system that can work in all places, including those areas with spotty internet.

With identity, such projects should have a good reputation.

what does that mean?

Read:Record rise in crypto thefts in 2022…Details here

This alone means that we will witness one of the greatest transfers of wealth in human history, from the developed rich world to the developing world.

Not out of charity but because it makes business sense.

If you are a financial manager of an organization and you are looking for an asset with a repayment rate higher than 90%, an asset with sovereign guarantees or insurance behind it or people to offset risks and returns higher than 10% or 15%, why not go and subtract 5% from your corporate treasury or 10 % of your company’s treasury?

This moment alone means hundreds of billions of dollars each year in foreign direct credit flows to these countries for the first time ever.

Once you establish that, the very thing that gives a credit score to someone enough to convince you to give them $100, $200, $300, will convince you that maybe you should be an angel investor in their business for $10,000, $15,000, and we can securitize it so that it can be individually $20 and $30.

Why ?

Is it charity?

The cost of running a company in Ethiopia is no less than ten to fifty times the cost of running a company in San Francisco, and it does not necessarily mean ten to fifty times less profit.

Read:Charles Hoskinson: Cardano will outperform Ethereum 2.0 in DeFi

This is the key.

Cardano will open up a whole new world once this infrastructure is established.

Watch Hoskinson’s full video:

Hoskinson and the Cardano project are highly focused on developing markets and improving their banking systems through modern technologies based on smart contracts, decentralized applications, and blockchain.

Read also:

A change in plans… Find out the expected date for the “Coinbase” company to be directly listed on the stock exchange

Bitcoin Shows Great Resiliency Considering High 10-Year Treasury Yield