Cardano founder Charles Hoskinson is updating the crypto community on the company’s plans to expand operations.
In a new video entitled, Musings About the Roadmap, Hoskinson shares that IOHK (Input Output Hong Kong) Global intends to scale in size across the globe, with a focus on growing its business in Africa.
“We’ve been scaling resources tremendously. From our part, IOHK Global, we’re probably going to spend at least $15 million on research and development. So we’re setting up a lot of new labs, acquiring new scientists, augmenting our existing science core, getting new post-docs, more post-docs, more graduate students…
We’re also on the commercial side really scaling up our commercial division and in Africa in particular we’re definitely going to scale up resources there into the eight figures because there’s a lot of good news coming.”
Hoskinson’s comments arrive on the heels of IOHK’s announcement that the Alonzo upgrade will bring smart contracts to the Cardano network this August. Smart contract capabilities – a functionality that the competing Ethereum blockchain already possesses – will allow developers to build on the platform, bringing the hottest crypto sectors to the platform such as decentralized finance (DeFi), non-fungible tokens (NFTs) and decentralized cloud storage projects.
“Once Alonzo hits, so much news is going to come out from the monster of the week, the flavor of the week… that it might be hard to compete with it on our side so I figured get it out early. The second half of this year is really a big discussion about directed effort alongside community effort and how to blend those two in the most productive ways possible.
But what’s really cool is I see a government forming. I see the community really moving in the right place and I see the investments that we made and protocol design in science really starting to pan out.”