Cardano has invested in a number of startup ventures through EMURGO in order to increase blockchain adoption.
Cardano has concentrated its efforts on initiatives that are based on the blockchain. This is due to the fact that when the network’s smart contracts capability was launched, the next step was for developers to install their apps on the ecosystem.
Cardano has invested in a number of startup ventures through EMURGO in order to increase blockchain adoption. For a long, the organization has had its sights set on Africa, a burgeoning center for bitcoin innovation. It intends to provide the necessary support to the initiatives so that they may be integrated into the ecosystem.
EMURGO invests in African startups
The $100 million investment in Cardano-focused initiatives by EMURGO was one of the most significant announcements from the Cardano Summit, which ended in September.
The Cardano Foundation’s commercial arm had made major investments in a number of African-based businesses. As the need arose, these startups would get different degrees of assistance, ranging from financial to instructional.
Through EMURGO, the Cardano network participated in the seed funding rounds of Milkomeda, ADAVERSE, and Adanian. Some of these initiatives served as incubators for additional Cardano-related initiatives.
Milkomeda, on the other hand, is a dcSpark sidechain that acts as a link between the Cardano blockchain and other layer blockchain protocols.
Cardano Africa Tour With Hoskinson Africa has shown to be a hotbed for creative crypto technology, and inventor Charles Hoskinson wants to take advantage of it. Hoskison ended his two-week social media hiatus, which he had stated following the Cardano Summit, by tweeting his future intentions.
Hoskinson, who had been in Wyoming, announced his homecoming on Twitter. His future plans included a trip of Africa, which would begin in South Africa and travel through the continent’s numerous countries.
Just got back from Wyoming and I’m ready for this upcoming week. Heading to Africa soon- starting in South Africa all the way up to Egypt. Let’s go change the world together pic.twitter.com/a0qVd2wPd1— Charles Hoskinson (@IOHK_Charles) October 10, 2021
Along with the tweet announcing his trip, the founder revealed his plans for the Africa tour. He intends to meet with the Cardano network’s entrepreneurs and, with the assistance of his team, give whatever financial or educational assistance they may require.
On The Charts, Still Suffering
Despite encouraging news coming out of the project, Cardano’s native coin, ADA, has not experienced much activity. The digital asset’s momentum continues to be negative, defying the market’s overall rising trend.
Altcoins have risen in lockstep with bitcoin this week as the top cryptocurrency has rallied. The renewed momentum in the larger crypto market was expected to provide ADA the boost it needed to return to its former highs.
However, the asset has yet to make any major gains. Instead, it has been unable to maintain a price over $2, and is now trading at a low of $2.144 at the time of writing.