As opposed to doing something different about DeFi by creating a faster version of Ethereum, Cardano did something different.

There is something called the cFund, which is the Cardano Ecosystem Venture Fund, who earlier announced their first VC investment in COTI. This investment was based on an equity based deal.

For those who are new to the term equity, “Equity represents the value that would be returned to a company’s shareholders if all of the assets were liquidated and all of the company’s debts were paid off. We can also think of equity as a degree of residual ownership in a firm or asset after subtracting all debts associated with that asset.”

For clarity, cFund is managed by California-Regulated Wave Financial and anchored by IOHK. IOHK is led by Charles Hoskinson, who is the founder of Cardano.  The cFund looks for strategic investments synergistic to the Cardano platform.

Charles Hoskinson, previously stated, “We have tremendous respect for the COTI team and we are excited to deepen our relationship with this investment. COTI has been a great partner across several projects already, and we plan to leverage their advanced fintech architecture to enable future finance applications on ADA.”

This investment has happened before the launch of their smart contract. COTI are focused on creating native payment solutions.  The VC investment is based on bringing in some scalability to the blockchain based payments. Blockchain payments are held back because the payments are high and there is a lot of network congestion.

We can expect to see lot of financial applications on the ADA.  Several other projects who are working within the Cardano Ecosystem might benefit from the cFund in the future.

Recently, IOHK Media expressed, we’re announcing our partnership with Ethiopia’s Ministry of Education to create a blockchain-based national ID and attainment recording system. Rolling out to 5M students, this is the world’s largest blockchain deployment.

IOHK understands the importance of facilitating equal opportunity to innovate, to grow, and to thrive. The live Africa Special Event is scheduled for April 29, 2021 UTC.

Cardano Community hopes to help change the lives of so many in the world and many of them are grateful to be a part of it.

Nothing escapes the eye of a critic who stated:  “Hope this Africa topic isn’t overhyped. Sounds more like an agreement or pilot project for one special region like Tigray in Ethiopia and not whole Ethiopia. Which should be fine as a first step. Hope it will still meet people’s expectations.”