Cardano Supports South African Blockchain Alliance

Cardano Supports South African Blockchain Alliance

The Cardano Foundation have expressed their support for the newly formed South African National Blockchain Alliance (SANBA) who aim to enhance the socio-economic conditions in the region through aiding the adoption of blockchain technology.

Initially founded by the Council for Scientific Research (CSIR) alongside the Department of Science and Innovation and their associated Office of Digital Advantage, SANBA have the stated intention to evolve into a “…collaboration between government, academia, business and civil society to connect all blockchain roleplayers…”

The CSIR is the largest research and development (R&D) organisation in Africa and attracts around 10% of the entire African R&D budget to fund projects for its thousands of technical and scientific research staff.

Cardano in Africa

Cardano have previously made inroads into the African continent through educational partnerships and the Foundation believe this association with SANBA will provide a “…renewed focus on Africa [and] represents a step towards building economic inclusion throughout the region with Cardano.”

According to the Foundation, blockchain can provide “…greater transparency to reduce fraud, building digital identities for municipal services and bolstering developing economies with virtual currencies.”

The Foundation go on to suggest that by adopting the technology, developing countries will be able to “…break ties with legacy banking systems, costly middlemen and entrenched political structures”

By focusing on “…blockchain governance, fintech conduct, smart contract frameworks and education,” Cardano hope to elevate their “…position throughout every country in Africa….”

In a youtube commentary on the SANBA launch, Cardano founder Charles Hoskinson touched upon the key areas of implementation of blockchain and how it can help solve endemic problems that are not only present in Africa but worldwide.

In a recent interview, Hoskinson suggested that Cardano’s development arm, Input Output Hong Kong (IOHK), had taken blockchain technology to new heights, exceeding the cryptocurrency groundwork laid by Satoshi Nakamoto with Bitcoin.

Speaking to online news outlet U.today, Hoskinson said “The reality is, as great as Satoshi’s contributions were to cryptocurrencies, just what we’ve done at IOHK is significantly more meaningful.”