Coinbase says “Empowa” may solve housing affordability crisis in Africa


Coinbase exchange appreciated the role of Cardano’s Empowa in Africa to fix the housing affordability crisis of Africa.

Empowa is a decentralized protocol on the Cardano blockchain network and this protocol aims to solve the exorbitant mortgage rates crippling the housing market in Africa. 

Around 1 million people are failing to get home loans despite having a good amount of salary citing outdated loan systems in Mozambique, a southern African nation. Such people are living in temporary handmade houses, which are usually destroyed by cyclones. 

Nasdaq-listed publicly trading crypto exchange Coinbase addresses the housing affordability crisis of Africa and said that Cardano’s Empowa Defi protocol has the potential to fix this situation easily.

According to Coinbase, Empowa is based on modern technology, which is blockchain, & it will replace the traditional mortgage/loan system. 

Cardano & focussed countries

Over a couple of years, the Cardano blockchain network improved significantly but never showed off to get adoption in developed countries. 

The majority of the Cardano adoption & awareness focussed meeting/summit  of the Cardano team were in less developing countries. From 2012 to 2022, the Cardano team focussed on Zanzibar, Ethiopia, and Burundi to push the Cardano blockchain network use in the digital sector e.d the digital I’d system. 

No VCs support Cardano

It has been found that, in the history of the Cardano journey, no Venture capitalists (VCs) supported the Cardano blockchain, instead they spread negative news & misleading information to degrade the confidence of retail crypto investors.

Cardano founder Charles Hoskinson once talked about such things and said that he never collaborated with any VCs because he promised himself to distribute Cardano’s ADA token without any partiality & keep ADA trade price manipulation away. 

Read also: US IRS trains Ukraine to catch suspicious crypto transactions

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