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Cardano Releases New Project To Boost Network Expansion

Cardano’s drive to position its network has been unparalleled to other blockchain networks going by the way the network has been upgrading, revamping, and expanding its ecosystem.

The latest quest by Cardano regarding its drive to expand its coast has seen it launch a project dubbed “Arab,” which is an incubator program targeted at unicorns in Africa.

In collaboration with Iceaddis, a Pan-African business development enterprise, the project is part of the Input-Output Global Project Catalyst to boost the adoption of the Cardano network in Africa.

The strategic partnership is geared toward accelerating the growth of Cardano’s financed projects by equipping startups with the skills and resources they need to create real-world solutions to problems in Africa and beyond.

The new Arab incubator program is open to all active Africa-centric projects; it currently has about nine Africa-based unicorns as part of the pioneer participants in the incubator scheme.

Achieving cutting-edge initiatives in Africa has been the focus of Cardano, which is why the network is all out to make the project a success. Not only will the Arab incubator program be beneficial to Africa, but it will also be of immense benefit to Cardano’s expansion drive.

Africa in Focus

Toward the end of February, John O’Connor, IHOK director based in Africa, revealed news of the first loans disbursed to SMEs in Kenya to promote the potential of the yet-to-be-released Cardano’s ReafFi initiative.

Charles Hoskinson, Cardano’s founder, further added that the blockchain company is committed to introducing the peer-to-peer (P2P) lending platform across Africa later in the year, beginning with Kenya.

The Ethiopian Ministry of Education entered into a partnership with Input-Output Global (IOG) last year on the platform to efficiently provide millions of Ethiopian students a way to quickly verify their credentials via the native Atala PRISM technology hosted on the Cardano network.

IOG also ventured into another deal with Zanzibar-based World Mobile to connect the otherwise unconnected population and provide affordable internet services through the Cardano blockchain technology.

Partnerships and Cardano’s Growth

The parent company of the Cardano blockchain network, IOHK, has described the various partnerships as the “launchpad” necessary for the expansion of Cardano’s ecosystem. And RealFi is at the center of the expansion drive.

Cardano’s “RealFi” is a decentralized digital currency service that the network created to help people in need of new ways to access financial services. 

RealFi gives value to users that is absent in other DeFi platforms, coupled with attractive yields for crypto holders who lock up their tokens in the platform. Non-crypto users can also access credit plans, affordable products, and services on the platform.

So far, Cardano appears to have done well in its push to dominate the market, going by the plans and structures it has put in place and the strategic partnerships it has built with others.

The blockchain network has the means to vie for the leading role in the digital asset industry, and what better way to do it than the current way?

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