I understand that for many people in crypto, it’s all about the money. The beautiful dream, or illusion, of getting rich overnight. Meanwhile, with these current bearish prices, a lot of money is probably not what most crypto holders are seeing when they open their portfolio. Bummer! But perhaps this is one of the reasons why we are still stuck in this enormous downtrend? For sure, the bearish sentiment and declining prices are not sparking the enthusiasm of a lot of people in the crypto space nowadays. Maybe that is just what happens to a certain space when people only start caring about the money. And if this is the case, did we create the current crash ourselves?
As my personal profile on Telegram shows, I like to see myself nowadays as an ongoing survivor of the crypto crash 2018. Not something you would put on your LinkedIn or resume, of course, but on Telegram everything you post seems to be considered as “normal”. Next to being a “crypto crash survivor”, I’m also quite a new investor. I tumbled into crypto about 1.5 years ago, learning the basics about Bitcoin and blockchain in general. From that moment on I regret almost every day that I did not find out about crypto sooner. Not because I badly want to be part of the group that bought Bitcoin for $1, although it would, of course, have been great if I did, but mostly because I am very inspired and enthusiastic about the space and what blockchain can mean to the world.
With the cryptocurrency market dropping to new lows, I took some time to re-evaluate the space and to consider my options. My conclusion: we all need to go back to reality. We need to go back and support crypto and blockchain projects, not just for the money, but for the good cause. The ideology behind its existence. Why it got created. And with that, we should support projects that actually have a product or an idea that can really add something to the world. That is why for instance, I support Cardano. It’s not just about potential profits, it’s about what they try to accomplish in certain countries. That is way more valuable to me, then tipping on Twitter with a currency like Reddcoin. No offense, dear Reddcoin hodlers.
It is amazing to see how many cool startups have been created within this space over the past years. Companies with smart people, brilliant minds and innovative ideas and products. Ideas and products that can change the world we live in forever, and at the same time, make it a better place for many people (especially the poor). And yet, looking at the crypto space, the only thing people seem to care about these days is quick profits.
Although I have only been in this space for over a year, I have seen the crypto community change from great idealist and early adopters to greedy retail investors, childish twitter boys, and notorious scammers. In my eyes, the crypto community is starting to become a toxic environment where people only care about money. Pure greed. Short minded people who need project updates on a daily basis in order to feel confident about their investment. Otherwise, they get bored and start dumping. They don’t look at what is happening behind the scenes or at what a company is really offering. They only care about the number of tweets a company or spokesperson sends out daily, so they can be comforted during a bear market.
The whole reason why I am a fan of projects like Cardano (ADA) and OmiseGO (OMG), is because they don’t tweet all day how great they are. They don’t feel the urge to tell the world that their product is much better than, for instance, Ethereum. They don’t act like Justin Sun. Sorry, TRON lovers, just my opinion. To me, Cardano walks the walk, instead of just talking the talk (unlike so many other projects).
Cardano [ADA] is on a mission to “Transform Africa”
Cardano offers regulatory oversight and consumer privacy, making it a flexible and scalable technology. It aims at providing a stable and sustainable ecosystem for the users. Cardano’s technology has been based on peer-reviewed academic research. The programming language for Cardano is written in Haskell, which guarantees accurate mathematical code.
With more than a thousand of crypto projects “already dead”, leaving investors behind with broken promises, and a lot of cryptocurrency businesses today run by incompetent teams or based on plagiarized whitepapers, makes Cardano feel like truly a blessing. Cardano is one of the few projects that is trying to improve societies, especially in underdeveloped parts of the world. It is a totally different ball game! Especially with brilliant minds like Charles Hoskinson behind its development.
Now, of course, if you rather want to invest in WhopperCoin? That’s fine! I like burgers. If you want to invest in DentaCoin? Go ahead, I’m all for clean teeth. Or maybe you are interested in TitCoin? I get it! The logo of TitCoin made me forget about Cardano too for a split second. There’s nothing wrong with a good logo! At the end of the day, however, the crypto space has more to offer than funny coins, appealing logos, and quick profits. Almost anybody who has done thorough research on the Cardano project comes to see the bigger picture.
While, for instance, Ripple is focusing on India, Cardano has been on the forefront to introduce and integrate blockchain technologies in Africa. According to the blog published by Cardano a few months ago, their objective is to improve the developmental conditions in the African continent. Yay! IOHK, one of the three development teams behind Cardano, made a trip to East and North Africa earlier this year to look for the problems and solutions faced in socio-political and economic development in the continent.
Recent developments in Ethiopia
Over 80 million Ethiopian citizens are working in the agriculture industry, with the production of coffee being on top of the export value chart. Big business! It is, therefore, good to see that the Ethiopian coffee supply chain will soon be using the Cardano blockchain. The Ethiopian Government has stated that it will be integrating Cardano into their agricultural sector with the possibilities of expansion to other sectors if the results are favorable. The vast agricultural supply chain in Ethiopia needs to be pushed towards increasing efficiency in revenue collection, and Cardano is a way to make that possible.
Ethiopia’s impressive economic growth in the past decade is one of the factors that led Cardano to focus on the country. A partnership in the agriculture industry is a win for both parties as Cardano will gain adoption in the region as the Ethiopian government leverages on the cheap, secure and fast mode of record keeping.
Furthermore, IOHK will help the government of Ethiopia to hire and train young software developers to learn about using Cardano blockchain solutions and implement them in the coffee supply chain. The most exceptional programmers will be hired by the company to build agricultural blockchain solutions and contribute to the Cardano codebase.
Besides bringing technological development to Ethiopia, Kenya and South Africa have also shown interested in using the Cardano blockchain for numerous industries. Big things to come for Cardano in the African continent, that’s for sure!
Is Asia next on Cardano’s list?
The Cardano team is looking to implement its blockchain technology in Vietnam and Cambodia for tracing beef supply, and with that making its way into the Asian food industry. Emurgo, one of the other three development teams behind Cardano, is looking to publish digital university certificates using the blockchain. The technology could help in reducing falsification and theft while improving transparency in the system and allowing quick verification of information on a network.
CEO of IOHK and founder of Cardano – Charles Hoskinson, recently mentioned the following about adoption and tech utilization:
“It creates a single global market enabling anyone to trade at a global scale, which is revolutionary. The blockchain platform can solve many varied issues and make the world a better place.”
My personal view on Cardano!
This article is not meant to imply that Cardano is the only project out there trying to improve societies and bring positive technological advancements to the world. It is not. Cardano is, however, one the few crypto projects with most of its focus on research, development, and practical applications of the blockchain technology. Furthermore, with the market and prices being so bearish, it would be good to stop thinking about how to get rich overnight by betting on risky new ICOs or investing in useless pump & dump coins. Start thinking about projects that will help the space forward. With this in mind, Cardano is most definitely on top of my investment list.