Cardano Foundation, South African National Blockchain Alliance Partner To Drive Adoption
The Cardano Foundation has entered in a partnership with the South African National Blockchain Alliance (SANBA) to boost the adoption of blockchain technology across the country. The announcement was made on April 7 and in this partnership, Cardano would leverage Distributed Ledger Technology to improve the socio-economic growth of the country.
Cardano Foundation believes this initiative would help them achieve their long-term goal of blockchain adoption across regions where banking services are hard to get. Cardano Foundation also sees South Africa for building a network across the region constituting of government agencies, institutions, and private firms working the blockchain technology. The official announcement read,
“Cardano believes in empowering individuals and enterprises by putting them in direct control of their information, wealth and value. Blockchain technology lets developing nations break ties with legacy banking systems, costly middlemen and entrenched political structures.”
Cardano Sees Blockchain as a Critical Tool To Help The Underprivileged
When Blockchain came into being after Bitcoin gained traction which opened the market for the use of the decentralized technology. Cardano also believe that blockchain brings transparency, reduce fraud especially in developing economies where corruption and lack of transparency in the society lead to poor getting poorer by the day.
Cardano in its initiative is planning to build a digital identity infrastructure in these developing nations and help the deprived to gain equal opportunity through virtual currencies. The foundation is also hoping to help other nations in the continent through various fintech solutions.
Blockchain has emerged as one of the key technologies that have been used to help these developing economies especially the poor and underprivileged get access to basic human necessities like banking services. Prior to Cardano Foundation’s partnership and work, even Dash was widely used in Kenya to avail a form of money to the poor without the need of a bank. The Dash initiative offered offline Dash coupons to the people since electricity was quite scarce in the region, and those people can redeem their coupon cards at various centred against daily necessity goods.
The outbreak of Coronavirus leading to WHO declaring it as a pandemic, a majority of the markets and industries have either shut their operation or taken a back seat, however, Cardano Foundation has continued its development and partnerships with same zeal and speed.