• Charles Hoskinson, the creator of Cardano (ADA), is aiming to onboard 5 million people onto the Lace wallet by July 2023.
• The project will focus on archiving student academic records in Ethiopia and creating digital wallets that are legally connected to them.
• Progress is currently delayed due to bureaucratic processes, but IOG and the Ethiopian government are now working together to move things forward.
Cardano Creator Sets Goal of Onboarding 5 Million People onto Lace Wallet
Charles Hoskinson, creator of blockchain platform Cardano (ADA), has announced a goal of onboarding five million new users onto its identity-focused project in Ethiopia’s Lace wallet by July 31, 2023.
Project Aims to Archive Students’ Academic Records
The project will focus on archiving students’ academic records in Ethiopia with an aim to create digital wallets that are legally connected to them. In a video update for his 318,000 YouTube subscribers, Hoskinson said: “We’re just watching student after student get enrolled. The long-term goal is to get five million that would cover the entire K through 12.” He added that this would include those aged 25 or younger which could add up to approximately 20-30 million people.
Progress Being Slowed By Bureaucratic Processes
Progress is being bogged down by a lot of overwhelming bureaucracy however, with Cardano developer IOG and the Ethiopian government now working together make progress towards the goal. Hoskinson said: “When you do these large-scale government programs that are very bureaucratic in jurisdictions that are growing into a digital economy, you have to be patient and it takes quite a bit of time.” He noted that a challenge still remains as there are capital controls still in place in Ethiopia and the central bank has yet yet fully embraced cryptocurrencies.
Cardano Trading Price at Time of Writing
At time of writing Cardano was trading for $0.315 which was a 1.7% increase during the last 24 hours.
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