Government of Lesotho Signs a Deal with Apollo Cryptocurrency Platform

Multi-function crypto platform Apollo is going to help implement blockchain into a variety of Lesotho nation's government initiatives and departments

The tiny country of Lesotho has entered into a deal with a crypto-related company Apollo in a bid to deliver blockchain solutions in the country. Both parties have signed a memorandum of understanding (MOU) that will guide them in delivering blockchain and cryptocurrency solutions to government departments. The collaboration targets state departments and functions in the areas of poverty alleviation, education, employment, and the private sector.

During the signing of the deal, the Ministry of Communication, Science, and Technology represented the government of Lesotho. The official announcement was relayed to both local and international news aggregators.

Lesotho to Adopt Apollo Cryptocurrency

With the two parties signing the MOU, the government of Lesotho is set to adopt the Apollo cryptocurrency, which supports decentralized file storage and a voting system. The platform aims to initiate a marketplace that “will allow users to buy, sell, and trade physical and crypto assets using the Apollo currency.”

Steve McCullah is the Director of Business Development at Apollo. He revealed that the company currently runs offices in the U.S., Europe, and plans to establish a new office in Sandton South Africa, which will serve its African clients.

“Although the exact contents of the MOU are currently confidential, we can say that we are working to design a major government platform. If this platform is implemented it would revolutionize the way government functions,” McCullah said.

Deal Focuses on Improving Public Life and Private Sector Growth

According to the announcement, the core objectives of the MOU focus on enhancing growth in the public sector and in government operations especially when it comes to solving social issues. Besides, the project will:

“create new wealth in the private sector by harnessing Apollo fintech solutions, design and implement new government systems, reduce financial crime, maximize the commercialization of the nation’s mineral wealth, [and] eradicate challenges like unemployment, poverty, and educational constraint.”

The announcement further revealed that the initiative aims to harness operations in the Lesotho import and export sectors, which include diamonds, garments, electricity, water, and workers’ remittances.

McCullah further stated that the government of Lesotho decided to engage Apollo for the initiative, based on its ability to deliver blockchain solutions. He said that blockchain technology is the most secure technology to create state systems, but the technology still faces challenges that outweigh its benefits.

Apollo will provide Lesotho with the ability to develop systems that improve efficiency and simplify operations in any state department and function.

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Tokoni Uti
Tokoni Uti
Tokoni Uti is a Lagos-based writer with several years of experience. Her work has appeared in the Huffington Post, the Los Angeles Free Press and the San Diego Free press among others. She is a graduate of Bowen University.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

1 COMMENT

  1. “create new wealth in the private sector ….. Although the exact contents of the MOU are currently confidential…. that…my friends is a classic for scam coin speak.

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