Cardano has focused on Africa lately but would love to enter India
IOHK CEO charles hawkinson took to Twitter to explain why, despite the potential, Cardano hasn’t made much inroads into the Indian markets.
Crypto researcher Sooraj, who commended IOHK’s efforts and collaboration with major universities, believes more awareness of Cardano could have been created if it had done the same in India.
Cardano partner EMURGO formally announced its entry into the Indian market in 2019 with the establishment of the EMURGO Academy, but Suraj claims this may not be enough given the amount of resources required.
Cardano creator Charles Hoskinson responded to this and explained the reason why Cardano has not entered the Indian markets as much as it would like to.
He noted that India has a strong anti-crypto stance, with the government making several attempts to ban crypto and make its use illegal. He continued by saying that although he would certainly love to enter the market, there appears to be a need for familiarity to do so.
Sooraj agreed with the Cardano creator that India remains a difficult market but noted that things are slowly changing. He says Cardano has an amazing academic basis and should be able to leverage that.
In recent times, India’s central bank has repeatedly shown its hostility towards cryptocurrencies by supporting efforts for a complete prohibition, which include imposing a 30% tax on any income made on cryptocurrencies without any deductions or exemptions. Is.
Cardano’s focus on African continent
Cardano, on the other hand, has focused on Africa, participating in investments in several African blockchain and fintech start-ups.
As reported by U.Today, the Cardano founder hinted at working on “something cool” in Papua New Guinea.
In the past year, Cardano inked a major partnership with the Ethiopian Ministry of Education to create a national attainment recording system to verify grades, monitor school performance and boost nationwide education.
