Charles Hoskinson’s New Hospital Will Accept Cardano (ADA) for Payments

When Hoskinson’s new hospital opens its doors to the public next month, he claims that patients will be able to pay for medical services using ADA.

Announcement

Charles Hoskinson, the creator of Cardano, has revealed the opening of his brand-new hospital, dubbed “Hoskinson Health & Wellness Clinic,” where patients can pay for healthcare services using ADA, the ecosystem’s native token.

Hoskinson stated the hospital would be operational by February 2023 while announcing the development a few days prior. However, the founder of Cardano remained mum on whether his new hospital will accept other significant cryptocurrencies like bitcoin (BTC) and ether (ETH).

Charles Hoskinson Launches New Hospital

Hoskinson tweeted the information to answer a question from one of his followers on Twitter about whether they could use ADA to pay their expenses at the just-opened clinic. The Cardano founder replied with a “Yes.”

The hospital’s website indicates that Hoskinson Health & Wellness Clinic is located in Wyoming, United States. Cardano Founder’s Hospital pledges to provide various healthcare services, including primary care, mental health care, women’s health, cancer screenings, proactive health screenings, cardiovascular care, and diet/nutritional medicine.

According to the website, Hoskinson Health & Wellness Clinic would work on life extensions for elderly patients, natural food supplements, diets, exercise, and medical therapy. The clinic is only partially open right now and will be fully operational starting next month. According to the hospital’s LinkedIn page, it employs about ten people and recruits more.

Due to the market’s protracted downward trend, most cryptocurrencies are currently trading at levels not seen in a very long time. Hoskinson referred to Cardano as “solid, futuristic technology,” making it one of the most dependable blockchain networks in the cryptocurrency sector. The price of the eighth-largest cryptocurrency by market capitalization, which is presently selling at $0.33, has decreased by over 88% from its peak in September 2021.

Hoskinson has continued to work to encourage the adoption of the ADA coin despite the prolonged crypto winter. The blockchain creator announced in June of last year that Nessie’s restaurant and a whiskey club would open in Wyoming and take ADA as payment.

Driving ADA Adoption

Hoskinson has recently kept up his efforts to promote the ADA token’s acceptance. The blockchain developer revealed in June that Nessie’s restaurant and a whiskey lounge would open in Wyoming and accept ADA as a form of payment. However, the decision to accept ADA as a form of compensation was initially disheartening for several tourists. The first decentralized stablecoin in the ecosystem, DJED, was mentioned as an alternative Cardano-based payment method that Hoskinson might have chosen.

Cardano-based Regulated Stablecoin

Despite the recent sharp decline in the value of the Cardano (ADA) cryptocurrency coin, it is essential to remember that the project’s development team is progressing reasonably smoothly. The Cardano (ADA) ecosystem will allow potential investors to convert their USD into the Cardano-based regulated stablecoin via credit/debit cards, wire transfers, and other methods. Recently, a report was published that USDA, the first fully fiat-backed, regulatory-compliant stablecoin in the ecosystem, will debut in Q1 2023.

Additionally, the network had a significant update last year known as the Vasil upgrade, after the late environmentalist from Bulgaria named Vasil Stoyanov Dabov. The goal of this upgrade was to boost Cardano’s blockchain’s throughput.