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Cardano's Ethiopian Initiative Called "Watershed" for Africa and Blockchain: Here's Why

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Thu, 05/20/2021 - 14:08
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Vladislav Sopov
Iwa Salami, a researcher at University of East London, explains why Cardano (ADA) can transform Africa's finances
Cardano's Ethiopian Initiative Called "Watershed" for Africa and Blockchain: Here's Why
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Input Output Global, the organization behind Cardano's (ADA) blockchain platform recently made headlines with its decision to transform the African economy. Iwa Salami of the University of East London opines that a "Great Blockchain Deal" is crucial for the continent and for the technology.

Chance for Africa, use case for Cardano, apology for Bitcoin

According to Mrs. Salami, Bitcoin and cryptocurrencies are still underrated in terms of socioeconomic use cases. By contrast, it is widely criticized for high electricity usage and insane volatility.

Cardano's African initiative is crucial for crypto
Image via Twitter

At the same time, blockchain's immutability and attack resistance make it the perfect feature-rich platform for social and economic changes.

That is why the unified informational system designed for the advance of education in Ethiopia may improve the image and mainstream perception of decentralized systems—especially of smart contract environments.

Globally, blockchain-based initiatives can help African governments and nations hit their African Union Agenda 2063 goals.

What is Atala Prism?

As covered by U.today previously, three entities behind Cardano (ADA) cryptocurrency—Cardano Foundation, IOHK and Emurgo—signed a deal with the Ethiopian government.

Within this partnership, Cardano (ADA) blockchain will host the first-ever informational system that includes full data on students' IDs in Ethiopia.

Related
Cardano Developer IOHK Announces "World's Biggest Blockchain Deployment" in Ethiopia

A system dubbed Atala Prism will process information about more than five million students and 3,500 schools in the country.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)