Bitcoin, Crypto currency, Blockchain

Cardanos project “Atala” is designed to support millions of Africans financially

71f815b6b010fe6df5a7978165a60b1f - Cardanos project "Atala" is designed to support millions of Africans financially

Cardanos project “Atala” is designed to support millions of Africans financially

Home News Cardanos project “Atala” to millions of Africans financially support

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Marcel Knobloch –
03.05.2019

The former co-founder of Ethereum, and is the main founder of Cardano, Charles Hoskinson, called Cardano, a project that is more than just a digital means of payment will be. Cardano is highly complex, and solves more problems than just a novel to be.

Hoskinso announced the introduction of the framework “Atala” for businesses that billions of people in African countries financially to support it. Atala is expected to come primarily in smaller cut-off regions, in order to give the local population new opportunities to receive financial support (freely translated):

Atala is a company Framework with Hyper Ledger Fabric comparable. However, it is to be a solution provider for governments, the local currency or a Supply Chain Management System. This requires a kind of framework that serves as the libraries and modules, which would allow governments to quickly develop a product for end users.

The focus is, according to Hoskinson, clearly, to developing countries, the need besdoner a lot of help. The Framework is intended for real-world use cases, such as the registration of real estate and Supply Chain Management. Nevertheless, Atala aims, of course, digital currencies, as the local population in economically weak regions often do not have access to a Bank account.

In the first step, Atala is used in cooperation with the government of Ethiopia, to bring a new crypto-currency on the way, which serves as a safe and reliable means of payment for the Chapter in the Nation. The Framework is to be gradually introduced in other countries, where infrastructure is lacking, and such projects can not be implemented without further external support. One of the main objectives of Atala is able to move the value of a user in the Blockchain brings in between different block chains flexible. According to Hoskinson, the boundary between a simple Ledger and the Enterprise Ledger has to be discussed within a permit-free system (freely translated):

We need to talk about it as a spectrum, and the value-in-use seamlessly between the two move. For example, you do not want to make the user aware that you are leaving the Cardano-Blockchain and Ethereum to get in. You want to do is that you have a seamless experience. We need to focus on, to move data, actors, and values between these systems, so that users can move between the exchange and an open Ledger.

The interoperability between different Blockchains is another large topic which will be edited for a long time several players in the crypto market. The development of this project uses the technology in a place that can use some financial as well as technological development.

Featured Image: Akarat Phasura | Shutterstock

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