is your single stop for crypto

Ethiopian Gov’t Inks Agreement with Cardano to put Agriculture on the Blockchain

Ethiopia, an East African country, is the latest nation to show some interest in Blockchain technology. It is after the state signed a memorandum of understanding (MOU) with Cardano, Cryptocurrency startup. The deal will enable developers to utilize its Blockchain in the Agriculture Sector.

Charles Hoskinson, the CEO of Cardano, announced on Twitter today that the move will also focus on offering training for developers on how to use the Blockchain. “I have just signed an MOU with the Ethiopian Ministry of Science and technology to provide training to developers and also use Cardano in the agriculture sector,” said Hoskinson. However, it remains uncertain when the initiative will commence, or the exact time we will witness the first results of the MOU.

Just like Ethereum, Cardano will create a decentralized platform that will back both decentralized applications and smart contracts. Since the platform is still in its early stages, time will tell if they will deliver their promises. It is important to consider that there are some Blockchain insiders like EOS CTO Dan Larimer that have criticised the project. In spite of such criticisms, the digital currency has recently; launched a Proof-of-Stake algorithm for its Blockchain during the Eurocrypt conference held in Israel.

A point to note is that MOUs have no binding obligations compared to formal partnerships and there is no certainty that the plans will proceed as anticipated.

This initiative by Cardano is not the first Blockchain activity to fail in Africa. Over the past year, Agora, a Swiss firm made confirmed that it played a significant role in helping Sierra Leone undertake its elections using Blockchain technology. However, it was later determined that the allegations were not true and the country affirmed that they have never used Blockchain powered solutions in their elections.

IOHK, the company behind the digital currency Cardano and John O’Connor the director of African Operations confirmed that Ethiopian developers are set to use crypto by the end of 2018.

Leave a Reply

Please Login to comment

Tokens 24 News Story