DALA Blockchain and Ugandan Prince Partner to Produce Clean Solar Energy
The cryptocurrency revolution is set to impact the developing countries more than the developed ones as the former faces massive inefficiencies in their financial systems hence the need for blockchain enabled financial systems.
One of the most recent cryptocurrency project teams to emerge in Africa, Wala, is a South African startup that aims at providing its users with a smartphone application to enable peer to peer financial transactions.
With the traditional systems of banking getting harder for the low income earners to access due to the high fees, Wala saw the opportunity to solve the issue using crypto payments. One big factor that made the app so popular in Uganda, Zimbabwe and South Africa is the fact one of Kabaka’s (Ugandan monarch) sons joined in the project to uplift his people.
The $DALA Token
As is with almost all the altcoins launched after the start of 2017, Wala raised an initial coin offering their $DALA token this May raising over $1.2 million USD. The application has seen over a 100,000 people hold the accounts across the three countries mentioned above. The success of the $DALA token is very much dependent on developments on the blockchain platform and overall adoption rates of the token.
So far, the app has processed over $2.5 million USD in transactions, paying bills, merchants, and buying mobile airtime. The token introduced a cheaper and more efficient way to carry out financial services in the countries.
DALA Blockchain To Partner With CleanPath Emerging Markets (CPEM)
The Ugandan office of the CleanPath Emerging Markets announced a partnership with DALA blockchain to create a blockchain-enabled solar energy project, managed through the $DALA blockchain. The project will see the workers and contributors paid in DALA tokens as well as allow consumers to purchase the clean solar power produced.
CleanPath was founded by Kudra Kalema, a prince in the Buganda Kingdom in a bid to help his community solve the electricity issues it faces. The $1.5 billion USD project will run through the country to provide its young population. This will be heavily beneficial to the country as it aims to increase 200,000 jobs in the country as well as provide clean solar electricity to a quarter of the population in Uganda.