As Cardano (ADA) continues its flip-flops with Monero (XMR) for a top 10 spot, it is easy to get caught up in these short-term price movements. However, short-term speculation on a project like Cardano (ADA) is an exercise in futility. That’s because the project is still a work in progress, and will continue to be until 2020.
Trying to invest in Cardano short-term is also complicated by the fact that the market is still bearish, and the overall demand for cryptocurrencies in still low. That’s after this year’s crash that has seen most altcoins lose up to 90% of their value. As a long-term investment, Cardano’s chances of success are way above average. It is a project that has what it takes to transform lives for the better in the developing world.
In a recent AMA, Charles went into detail about the IOHK goals for Cardano. Charles stated that what they are building is a financial operating system for the developing world. Cardano will give millions of people in the developing world access to financial solutions that they would never have access to under the current legacy system. Given that there is a massive gap between financial solutions and the needs of people in most developing countries, Cardano could emerge as the perfect solution to help change lives in these countries.
What makes Cardano different from all the other solutions targeting this market is that it gets rid of the top-down approach since it is a decentralized blockchain. Rather than dictate financial solutions for people in these markets, it gives them a platform to build their own solutions. This way, they can create what best fits their needs on a secure and decentralized platform, where there is no central authority giving orders. Given that part of the problem for the developing world has been solutions that are copy pasted from other more developed societies, Cardano is well positioned to gain widespread acceptance.
The best part is that not only does Cardano (ADA) have a solution, it also has a brilliant execution strategy to achieve these goals. According to Charles Hoskinson, the most important thing when doing business in the developing world is to establish relationships. Relationships are even more important than the tech itself. Charles and the team have made major progress on this front. Charles has met with heads of states and top government officials in Africa, and Asian nations like Mongolia. He has helped build trust in Cardano, and this will play a role in driving up the adoption of Cardano (ADA) in the long run. The team even has a 52-country strategy for Africa, which is an indicator of how serious they are with Cardano (ADA).
With such potential to change the financial fortunes of millions of people in the developing world, the long-term prospects of Cardano are pretty good. Of course, as it changes society, it will also change the fortune of Cardano (ADA) investors. Cardano (ADA) if successful has a realistic chance of hitting a trillion dollar market cap in the next 10 years. That’s a massive return for investors that can see the bigger picture, far beyond the current bear market.