The Cardano Foundation has announced their latest cooperation with the National Blockchain Alliance of South Africa (SANBA).
The partnership is designed to promote the introduction of blockchain technology and deliver economic growth for the country’s 59 million people.
SANBA is a collaboration of various South African institutions, according to the Cardano Foundation. The actors involved are trying to speed South Africa’s use of blockchain technology.
The cooperation is supported by the Government of South Africa, the Science and Innovation Department, the Council for Scientific and Industrial Research, the Digital Advantage Office, among others.
Cardano Foundation Eyes Africa‘s Blockchain Market
Cardano underlined its efforts to promote the introduction of blockchain technology and the use of the blockchain Cardano.
In line with this, it is by this cooperation expanding its participation in the region.
The Cardano Foundation believes South Africa is a “key market” for building a network of governments, institutions and businesses in the region that use Cardano, hoping to work together to enhance economic inclusion.
Potential applications of blockchain technology in South Africa include: developing a more transparent environment for fraud reduction; building community services digital identities; and local economics by allowing them to develop digital currencies.
The Cardano blockchain has set its sights on reinforcing emerging market economies through decentralized innovation.
The potential collaboration with SANBA is the first step towards delivering game-changing technology to boost the dynamic and diverse economies of Africa.
The Cardano Foundation continued that the cooperation will allow South Africa to continue on the continent’s path of decentralization.
Moreover, the emerging countries will be able to become independent of the traditional financial system, expensive intermediaries and a “engraved” economic policy.
Cooperation with SANBA will help in this, as part of the initiative of the Cardano Foundation to facilitate sustainable growth in Africa.
The Cardano Foundation hopes to strengthen the position of Cardano throughout Africa with a focus on blockchain governance, fintech behaviour, smart contract frameworks and education.
That’s an ambitious goal but the decentralized future looks closer than ever with organizations like SANBA.