Charles Hoskinson, the co-founder of Ethereum and founder of Cardano launched a new enterprise blockchain framework that aims at providing better financial services to people in African countries. The information was released by Forbes on April 30. Cardano (ADA) is one of the largest networks in the crypto market.
Cardano Launches New Enterprise Blockchain
The new network is known as Atala and the intention is to serve as a solution for developers, companies and governments. The new network works in a similar way to Hyperledger Fabric and it will be providing services to different institutions and agencies, including companies.
During a conversation with Forbes, Hoskinson commented:
“Atala is an enterprise framework similar to Hyperledger Fabric. However, the point is to be a solutions provider for governments in need of a municipal currency or a supply chain management system. This requires a type of framework that serves as libraries and modules that would allow governments to rapidly build a product for end users.”
The solution is similar to Hyperledger Fabric and it takes a different approach. Hoskinson, also the CEO of IOHK, explained that the network was built from the ground up for real-world use-cases. This new platform is expected to go live in just a few days.
According to Mr. Hoskinson, Atala will be the first blockchain product that will be working with the Ethiopian government. They also want to develop a cryptocurrency and provide a secure and dependable means of payments for the nation’s capital.
According to Forbes, Atala will be the first to be used in collaboration with this government. This project will start in Ethiopia and depending on the results they would be moving to another country. Hoskinson mentioned that blockchain interoperability is needed so as to facilitate mass adoption of the technology.
“The only way we can get 15 million farmers in Ethiopia into a cryptocurrency like a system is to first get them into supply,” explained Mr. Hoskinson. “The farmers need to be in a supply chain system to adhere to international mandates.”
In the future, Cardano wants to launch a product to change the lives of 15 million individuals around the world, specifically in Africa.
At the time of writing this article, Cardano has a price of $0.0688 and it has a market capitalization of $1.97 billion.
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