Charles Hoskinson Sets a Goal of 5,000,000 People Using Cardano's Lace Wallet

Charles Hoskinson, the developer of Cardano (ADA), has set a new objective of bringing five million new users onto the Lace wallet platform.

The CEO of Input Output Global (IOG), who has 318,000 YouTube subscribers, recently released a new video updating his audience on Cardano's identity-focused project in Ethiopia, which aims to archive students' academic records.

Cardano is currently trading for $0.31 at the time of writing.

Hoskinson's big aim is to help five million people start using Lace, Cardano's crypto wallet connected to the web. He's happy to see more and more students signing up. Eventually, he hopes to cover all students in kindergarten through 12th grade. He's also excited about getting over 20 to 30 million young people in the country, aged 25 or younger, to use it, but he knows it'll take time.

Hoskinson acknowledges that many bureaucratic processes are stifling progress. He does, however, mention that Cardano developer IOG and the Ethiopian government are now working together.

He explains that the delay is not due to their actions, but rather to the government's need to handle everything in a systematic manner. So they've been collaborating with them, dealing with varying degrees of comfort on different days.

Hoskinson emphasizes the importance of patience and time in implementing large-scale government programs in jurisdictions transitioning to a digital economy. But he finds it exciting because once they reach that level of maturity, they can start talking about how to connect users who will be 18 or 25. These users will be purchasing homes, obtaining credit cards, and other services, so they must be linked to a digital wallet.

The problem is that Ethiopia still has capital controls in place, and the central bank hasn't fully embraced cryptocurrencies. This makes connecting these users to platforms like Lace in an ethical and legal manner difficult.

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