The African nation of Ethiopia has signed a memorandum of understanding (MOU) with cryptocurrency startup Cardano (ADA), according to a report made by The Next Web on May 3. The agreement involves Ethiopian developers using its blockchain technology in the country’s agriculture industry.
Charles Hoskinson, Cardano CEO and former Ethereum Co-founder made the announcement in a tweet. Hoskinson added that the agreement with the Ethiopian Ministry of Science and Technology will also focus on training local developers to use blockchain technology.
“Just signed an MOU with the Ethiopian Ministry of Science and Technology to explore training blockchain developers and use Cardano in the Agritech Industry,” said Hoskinson.
Director of African Operations at Cordano’s parent company IOHK, John O’Connor said that Ethiopian developers are expected to begin using an agritech platform built on Cardano’s blockchain by the end of the year.
“This year we will offer our first course in Africa, probably in Ethiopia, and expect the first cohort of Ethiopian developers to be contributing to Cardano code by the end of the year,” said O’Connor.
It should be noted that while MOUs can be used to show intent for action from certain parties, they do not imply any binding obligations, meaning that no legal guarantees to assure that the project will go as planned. Currently, no start date for the project has been announced.
Established in late September 2017, Cardano is among the top ten cryptocurrencies by market capitalization having a volume of $9.4 bln. The ADA coin uses a Proof-of-Stake (PoS) system instead of a Proof-of-Work (PoW) protocol, which is supposedly more efficient energy wise.
But this isn’t the only announced blockchain project happening on the African continent. Last week, popular cryptocurrency exchange Binance joined forces with Ugandan blockchain organization Crypto Savannah to drive forward the economic development in the East African country.