Ethiopia Adopts former Ethereum Co-founder’s Enterprise Blockchain Framework, IOHK .

Ethiopia adopts IOHK Enterprise Blockchain Framework

“Atala” to Serve the East African Country’s Capital and Agricultural Supply Chain

 

 

Charles Hoskinson, Cardano founder, CEO of IOHK, who is also The former Co-founder of Ethereum and the founder , CEO of IOHK Charles Hoskinson has announced recently the launch of an enterprise blockchain framework that will mainly focus on the African market. The first country to adopt this technological framework is Ethiopia.

The word “Atala” literally was named after a butterfly found in the sunshine state of Florida in America. According to Charles Hoskinson;

It  is an enterprise framework that is similar to Hyperledger Fabric. It serves as a solution provider for governments in need of a municipal currency or a supply chain management system. Therefore, it needs a type of framework that serves as libraries and modules that would allow governments to rapidly build a product for end users.”  Atala is built on the IOHK framework

The framework is unique and it doubles as a supporter and as a provider. It is designed for real-world use cases such as voting systems, property registration and chain management.

Another unique thing that separates it from other enterprise blockchain framework such as the HyperLedger Fabric, is the fact that it is also structured to support the creation and adoption of digital assets.

This is expected as a matter of fact to give it the desired appeal to developers and other stakeholders in the ongoing blockchain revolution. For entities who desire to integrate the enterprise blockchain framework into their businesses, Atala is designed to serve the purpose too.

Ethiopia government will be issued a new cryptocurrency which will provide a secured and dependable means of payment for Addis Ababa, the nation’s capital. Atala will be used to help on this. As Charles Hoskinson said,

As we have several MoUs signed, the utility currency for Ethiopia’s capital, Addis Ababa is the most prominent of which we are going to build. We are working with the Ethiopian government to create A new digital payments system that will allow six million users to pay their power and electric bills with cryptocurrency is going to be created.

Eventually we will combine this with an identity card, we are working with the Ethiopian government as we make this a success ,”

Fastest Growing Economy in Africa

This is particularly interesting for an African nation like Ethiopia braving the odds where its fellow counterparts have adopted a rather passive and reactionary approach. Ethiopia, an east African nation is still moving up economically. Reportes by the IMF says it has over 8.5% far outpacing any other country within the African continent is still on the moving train.

Apparently is obvious that Ethiopia is not settling for low position with its giant strides in infrastructures like the Grand Renaissance Dam, which happens to be the largest dam on the African continent on completion and constant influx of FDIs (Foreign Direct Investments) which grew by 26.7% according to IMF reports. This is quite commendable.

Atala to Facilitate Ethiopia’s Agriricultural Supply Chain Tracking and Traceability Solutions
Hoskinson in a tweet last year announced an MoU signed by Ethiopian government and Cardano network to create and develop a new tracking and traceability solutions for Ethiopia’s agricultural supply chain. The MOU also involves the training of developers and synchronizing its Agritech industry with blockchain technology. It aims to achieve this by development of this new tracking and traceability solutions for Ethiopia’s agricultural supply chain.

With frameworks like Atala, the gap created as a result of blockchain complexities in impacting the agricultural supply chain will be bridged. Hoskinson in addressing this issue said;

The supply chain system is the only vital way we can get 15 million farmers in Ethiopia into a cryptocurrency like a system. The farmers need to be in a supply chain system to follow international mandates. So, its better to put them in a network, supply chain system, as many of these people have no desire to use cryptocurrency. And if this is interoperable with Cardano, then a product that can touch 15 million people will be built,”

Ethiopia’s continued efforts at nation building, to their plans on becoming a regional power has continued to show remarkable leadership in the African continent.
With its keen interest and efforts on revolutionary technologies such as the Blockchain, and also taking action steps towards tokenizing its power grid in Addis Ababa, it’s capital, getting as much as 6 million people within its borders using cryptocurrency is quite a good stride.

Ethiopia is putting itself on high and good pedestal which will be resulting to stronger growth in the years to come.

 

 

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Credits: Techeconomy, cnbcAfrica.

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