Does Cardano (ADA) Have What It Takes To Overtake M-Pesa As The Leading Payment System In Africa?

Earlier this year, the Cardano (ADA) Foundation led by Charles Hoskinson – the founder of the blockchain project – toured Tunisia, Rwanda, and Ethiopia with the aim of improving the overall global adoption of Cardano (ADA) and its underlying technology across developing nations.

Cardano (ADA) Is Poised to Take over the Global Payment System – With More Focus On Africa

The blockchain project – Cardano (ADA) – is poised to take over emerging markets in Africa, South America, Central Asia, and other developing nations as it offers solutions to sustainability, scalability, and interoperability in these areas. Nevertheless, the major focus of the blockchain project seems to be Africa, as it offers a wider market with easier hurdles to entry.

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Cardano (ADA) Might Encounter a Huge Rival

Cardano (ADA), however, will encounter huge rivalry from the world’s most successful mobile payment industry in M-Pesa. M-Pesa simply means “mobile money,” and it presently serves more than 30,000,000 subscribers all over the world, with Egypt, Tanzania, Lesotho, Romania, and Albania as its main markets.

Cardano (ADA) Vs. M-Pesa

M-Pesa’s payment system dominance is presently unmatched by any firm in the world. The service enables the transfer of fund via mobile devices effectively, replacing the use of fiat currency. The service was launched back in 2007 during the boom of mobile devices in Africa.

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More than 25 percent of the gross national products of Kenya flows through the service with 34 percent of the nation’s population using the service. If Cardano (ADA) can be used in the transactions of the agricultural supply chain, with the ability to be transferred peer-to-peer with very low friction, then it opens a whole new world of commerce in most of these countries. Cardano (ADA) is in for a competition, and with more developments around the blockchain project, it might be able to stand a chance against M-Pesa.

Cardano (ADA) Price Today – ADA / USD

The current value of Cardano (ADA) is $0.1017 after an increase of more than 6 percent over the past twenty-four hours. Cardano (ADA) currently has a market cap of $2.64 billion and its trading volume over the past twenty-four hours is $63.20 million.


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