Cardano is ranked at #13, below UNUS SED LEO but above TRON and Dash on coinmarketcap. The price grew at a rate of 1.98% in the course of the past 24-hours. The trading volume recorded is $31.504 million, whereas the supply has 25,927,070,538 ADA coins in play. The total market cap of Cardano is $1.264 billion. As of this moment, ADA is priced at $0.048754. Do note that ADA coins are mineable.
A new article by the New York Times states “…Now, among the world’s 200 economies, just eight, or one in 25, are on track to grow 7 percent this year. Most of those are small economies in Africa”. The IOHK project Atala, is aimed at incorporating a hyperledger system for the Government in Ethiopia. Atala will have heightened interoperability with Cardano.
Considering that Charles Hoskinson is willing to focus on countries with developing economies [like Mongolia, Georgia, alongside Ethiopia], corporations won’t be able to control this venture. For now, Atala can be divided into three sections:
- Ledger Framework- formation of ledgers made possible. The built-in components include one for assets and one for ID
- Data Framework- gives the go-ahead to the formation of ledgers
- Agreement Framework- authorizes workflows; tied to the aforementioned frameworks
A few years down the line, thousands in Ethiopia will be able to pay for utilities with the help of cryptocurrencies. Cashmere comes all the way from Mongolia, and this industry could tremendously benefit from bringing in such an advanced framework. In this way, Atala could facilitate adoption for Cardano too.
Cardano was once again ranked amongst the top blockchain projects [involving cryptocurrencies] by Weiss Ratings. The data from the ADA/USD candlestick chart on tradingview points to return of bullish pressure. The difference between the MACD line and the signal line is almost negligible. The daily RSI [for 10 periods] has been rising and currently rests at 39.2
Resistance will be felt close to the $0.056 mark. e
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How Cardano {ADA} in Africa can help boost the Ethiopian economy as a result of the Atala deal
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