Charles Hoskinson, the CEO of IOG, has recently highlighted what to expect in 2022 as the smart contracts platform continues its quest for further expansion in the global market.
In a new video first reported by Daily Hodl, Hoskinson told his teeming subscribers on YouTube about the height of success attained by Cardano network in 2021 and what he has in mind to do in the future.
The first goal he mentioned is his plan to utilize blockchain to facilitate affordable loans through decentralized finance (DeFi). Hoskinson also discussed some outlined technological milestones for the year 2022.
Charles Hoskinson noted:
“My goal for the second half of 2022 is to figure out how to put all the pieces together to get an end-to-end microfinance transaction on Cardano. So that a real person in Kenya or somewhere with a blockchain-based identity and credit score, stablecoin on the other side, Cardano is the settlement rail. Peer-to-peer, person-to-person, click a button, loan goes to them. They pay it back, [it] goes to the other side…
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“It’s permissionless, and you can’t shut it off once that’s happened. It opens up a thousand conversations, [like] what’s a good identity? What’s a good credit score? What other products and services should exist in the realfi (real finance) space in Africa? And how do we spread this across all of Africa? That’s the dream.
“Next year, what’s going to happen is that a formal open-source project structure is going to be formed, kind of like Hyperledger to Linux. We’re going to see many institutions wired in, and all the people that are currently working on it will be novated over, including me…
When you look at things like enhancing [Cardano’s smart contract platform] Plutus, there’s already three CIPS [Cardano improvement proposals] as a result of the work we’ve done with developers that need to come in.
We have pipelining that needs to come in, input endorsers that need to come in. Peer-to-peer is currently being tested with the stake pool operators on the testnet, and there’s lots of stuff happening there…
“We started with correctness as our highest priority and now that [it] has been achieved we’re moving over to performance-tuning optimization, usability and these factors. That is a game of rapid iteration. You do a little bit. You get a huge advantage…
We’re staging things appropriately, and we’re starting to see a refinement of the science of things. The adoption’s there. The community’s there. We’ve grown to about two million people.”
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