Cardano brings cryptos to unbanked society with microchip

Cardano brings cryptos to unbanked society with microchip
It is said that 2019 and 2020 would be the timeframe for crypto adoption to occur. Thus far things are looking pretty good with cashless payment systems popping up just about everywhere. This is mainly due to the COVID-19 virus that is forcing retailers to beef up online shopping as customers are in lockdown. As such, Cardano (ADA) recently announced a new product – a crypto-focused chip to serve the unbanked. Today we look at how Cardano plans to bring cryptos to unbanked society with microchip technology.

Founder of Cardano, Charles Hoskinson recently announced their plans for the crypto-focused chip that has countless new use cases.

A lot of people are still uneducated on the many benefits of cryptocurrencies and blockchain technology. Some are sceptic about cryptocurrencies since they cannot physically hold a cryptocurrency in their hands.

Hoskinson explained that bringing cryptocurrencies to the unbanked can be difficult since many do not own smart phones. In response to the challenge, Hoskinson said the chip can bring a cash-like experience to these users.

The crypto-native microchip will be able to store cryptographic keys and simply transfer private keys from one chip to another. Most importantly, the chip can close the gap between cryptocurrencies and fiat and allow for easy and affordable conversion.

The chip is currently being developed at the University of Wyoming.

What is Cardano?

Cardano was created in 2015 to solve issues relating to Ethereum’s smart contracts. The project is used to settle payments, similar to Bitcoin but the major difference is the control layer that runs smart contracts. It’s like Bitcoin and Ethereum in one network.

The Cardano network uses the ADA token to run smart contracts. There are 45 billion coins in circulation. ADA is a proof-of-stake coin, meaning you can stake your coins in order to generation an income from it.

Buy ADA on AltCoinTrader

AltCoinTrader (ATC) is meticulous when it comes to listing coins for traders. Only the best will do! Knowing this, you can buy any coin that is listed on ATC with the knowledge that you are investing in a reputable project.

Buying ADA tokens on ATC is easy. Herewith a quick and easy step-by-step guide:

  • Register an account on South Africa’s favourite cryptocurrency exchange, AltCoinTrader.
  • Deposit funds into your account via a traditional EFT, buy with your credit card (Zapper) or try the new instant EFT service, Ozow.
  • Once your account has been funded, go to the ADA trading pair on ATC.
  • On the left-hand side of your screen “Buy ADA”, fill in how much ADA you would like to buy and the price. Click on the “Buy ADA” button to set your buy order.
  • Once your order has successfully been filled, your account will be credited with the number of tokens you bought. Voila.
Remember that the ATC Help Centre is on standby if you have any enquiries. There is no reason not to own a piece of the cryptocurrency-pie.