In his Christmas message to world on YouTube, Cardano (ADA) founder Charles Hoskinson, looked ahead to an exciting 2022 for crypto and his smart contract platform.

Focusing on long-term growth within the global market, Hoskinson spoke of his plans to use the Cardano blockchain to offer affordable loans to the world’s poorest populations via decentralized finance (DeFi):

“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 and it] goes to the other side.”

According to the Cardano founder, a revolution affecting traditional finance is looming by financially empowering the people on the African continent. could have far-reaching implications that might revolutionize traditional finance.

“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.”

The Input Output Hong Kong CEO revealed some of the company’s upcoming milestones for 2022.

“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.”

In conclusion, Hoskinson said:

“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 advantag.

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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