Ethiopia to Introduce Blockchain in Agritech After Signing an Agreement with Cardano

Ethiopia Joins other African Countries in Exploring Blockchain

0 1,166

Ethiopian government is moving swiftly into the Blockchain sphere after the recent signing of a memorandum of understanding with cryptocurrency startup Cardano. According to reports from Ethiopia, the agreement will see Ethiopian developers apply Blockchain technology to the Country’s agritech sector.

Cardano through the founder and CEO Charles Hoskinson confirmed the move in a Tweet stating that the agreement with the Ministry of Science and Technology includes training local developers on the usage of Blockchain technology. According to Hoskinson:

“We have just signed a Memorandum of Understanding with the Ethiopian Ministry of Science and Technology to explore training blockchain developers and the use of Cardano in the Agritech Industry.”

The director of African Operation of Cordano’s parent company IOKK John O’Connor stated that developers in Ethiopia want the project to be operational in the agritech platform based on Cardano’s blockchain before the end of 2018. However, even though the MOU can be used as evidence for action from the parties, it does not contain any binding obligations, and the start date of the project is yet to be communicated.

Cardano was launched in September 2017 and is already among the top ten digital currencies by a market cap having a volume of 9.4 billion dollars. The altcoin’s popularity is continuing to grow, and it uses a proof-of-stake system instead of the common Proof-of-work protocol which is said to be more energy sufficient. Cardano is currently trading at .036 dollars.

African countries seem to be on the move because the Ethiopian MOU comes barely a week after global crypto exchange Binance partnered with a Ugandan Blockchain organization called Crypto Savannah to support economic development in the country and the East African Region. It was however not established whether Binance would open trading offices in Uganda or in any other Country within the East African Region.

You might also like