Alliances in the cryptosphere are not uncommon and often evolves as much as a particular cryptocurrency project a massive and an all-inclusive future for its community. Partnerships in the cryptosphere enables a project to wedge support on all sides while serving both the investors, the partners and the developer’s interests.
A very common partnership cryptocurrencies strive to achieve are those with exchanges. These kinds of partnerships would not just help the coin to attain more recognition, it would also increase the coins trading volume and ultimately increase the price such that every stakeholder would be on the gaining side.
Partnerships In The Cryptosphere
The operations of any blockchain project is an all encompassing one. To fully optimize the cryptosphere and partake in the gold rush of the digital world, blockchain projects must not only depend on the ingenuity of their developers or the diligence of their staff, while these are indispensable attributes that defines a good crypto project, relying on them alone would definitely lead to the failure of the project. As the saying goals, “a tree cannot make a forest”, this is the underlying mantra for partnerships and alliances in the crypto-world.
The space is huge and projects exists to complement each other. A project designed or established to thrive would therefore do all it can to form alliances with other project within and outside the cryptosphere, this move shows strength and a willingness to play the game by the rules.
Partnerships in the cryptosphere have been from the early days of Bitcoin and still thriving today. In 2018, 5 of the best partnership deals struck in the cryptosphere includes;
- Litecoin and TokenPay
- IBM and Stellar
- AWS and Qtum
- Malta Stock Exchange and Binance and;
- Wanchain and MakerDAO
The objective of these partnerships usually varies with each of the participating partners, but the major essence is to share technology and technical aspects of each of the projects operations thus boosting efficiency and service delivery.
Apollo entered the cryptosphere with regarding itself as the ultimate currency in that it is the world’s fastest, most feature rich coin. Since inception, Apollo coin have been able to develop a vibrant user community with notable partnerships including but not limited to:
Apollo Coin made a major announcement on May 22nd, 2019 via their twitter handle. Here’s the excerpt of the announcement:
“we wanted to clarify that we are partnered with the ADF group which deals directly with over 53 nations at the presidential/ ministerial level.”
The African Development Group ADF is a highly influential organization in Africa. The group has allocated over 70% of its direct investment funds to bankable government (National and Regional) projects to support and promote long term investments in infrastructure. The groups deal range under African governments infrastructure investments is from US $25 Million to US $10 Billion or more.
Probable Effect On Africa
While the twitter announcement did not state what the partnership is all about, the Apollo coin community and other analysts have been left to figure out what this huge partnership can do to the African continent. Here’s a little of what I think;
- Major Crypto Hotspot: the African continent is currently lagging behind other continents in crypto related trading and activities in general. With this well publicized partnership, the African continent might get a positive upward surge of crypto related activities thus turning it into a major hotspot.
- Limited Unfavorable Policies: since the African Development Fund group related directly with African governments both at the presidential and ministerial level, they may serve as a channel to convincing the governments to support blockchain initiatives and pronounce fewer tightening regulations on cryptocurrencies.
- Growth of more developers: These partnerships can also breathe life on the continent thus leading to the emergence of more crypto developers which would culminate in the emergence of more innovative crypto products.
- More partnerships: in making Africa a major reference point for cryptocurrency activities, more blockchain or cryptocurrencies may be encouraged to come strike such massive partnerships as this.
While this list is limited, this partnership between Apollo and ADF would do nothing short of ushering Africa in our much-desired better days.
Partnerships constitutes a crucial part of any blockchain projects achievements. This is because solution that each of these projects presents must have a perfect place where it can be applied, otherwise, such blockchain project would be useless. These partnerships therefore help to create a good haven for the application of solutions to the problems the projects come to solve. The ADF and Apollo partnership is a welcome development in the cryptosphere and to crypto enthusiasts on the African continent