Skip to main content

Cardano Blockchain Infrastructure Selected in a New Drive to Bring Sustainable Internet Connectivity to Zanzibar and Tanzania

In its foray into Africa, Input Output, a research and development product engineering company, says it will partner with World Mobile Group in a new initiative aimed at bringing sustainable internet connectivity to users in Zanzibar and Tanzania. According to the partnership agreement, the Cardano blockchain infrastructure will be used to provide affordable network nodes to local business owners.

Partnership to Open New World

According to a statement that shares some details about this working arrangement, subscribers to these networks will be able to access Input Output’s digital identity solution, Atala PRISM. The identity solution “will allow them to use services such as digital banking, healthcare, and education.”

Meanwhile, in his remarks following the announcement of the partnership agreement, the CEO of World Mobile Chain, Micky Watkins laments on how years of neglect left some parts of the world behind technologically. Nevertheless, Watkins still expresses his belief that World Mobile’s “symbiotic partnership” with Input Output “will open a new world.”

Similarly, Charles Hoskinson, the CEO of Input Out praises the agreement and says it a demonstration of his company’s “long-term commitment to the African continent.” As part of the agreement, Input Output now owns a 10% equity stake in World Mobile Group.

Inadequate Infrastructure

In the meantime, in their joint statement, the companies share some of the reasons that prodded them into starting this partnership. For instance, the statement points to the fact that “more than 700 million people in Africa are not connected to the internet.” This state of affairs is blamed on the mobile network operators’ failure to invest adequately in infrastructure. This lack of investment, in turn, leads to the “exclusion of Africans from accessing basic services such as education, banking, or healthcare.”

However, this perennial lack of investment could yet work in the African continent’s favour, according to Hoskinson. The Input Output CEO explained:

That lack of deeply embedded legacy infrastructure makes the transition to blockchain-based infrastructure a relatively low friction process, with the potential for developing countries to ‘leapfrog’ advanced industrialized economies by adopting next-generation infrastructure.

Hoskinson also believes that after many years of “nascent promise”, the blockchain technology is “finally mature enough to get them there.”

Do you agree that this partnership agreement will hasten the adoption of blockchain technology in Africa? Tell us what you think in the comments section below.



from Bitcoin News https://ift.tt/3vt9PcT
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more