The Cardano Foundation and the South African National Blockchain Alliance (SANBA) have reportedly forged an alliance with each other, to research different approaches for enhancing adoption in South Africa.
Specifically, Cardano will utilize blockchain features to for its attempt to streamline the socio-economic development across South Africa. The Foundation reportedly expected that via this collaboration, they would have the necessary tools to drive blockchain adoption rate, throughout the area.
Cardano stated that the South Africa market is of crucial importance in relation to the development of a network, across the nation, which consists of governments, institutions, and establishments at the moment partnering with the firm.
“Cardano believes in empowering individuals and enterprises by putting them in direct control of their information, wealth and value. Blockchain technology lets developing nations break ties with legacy banking systems, costly middlemen and entrenched political structures.”
Moreover, Cardano reportedly believed that the applications of blockchain would help them achieve a better transparency level, bring down fraud, set up digital identity infrastructure, as well as use crypto as a means to drive the economies forward.