At the end of April Cardano developers have announced major collaboration agreements with the governments of Ethiopia and Tanzania, Input-Output Global (IOG).
But IOG's African Operations Director, John O'Connor, reports that a further important agreement is being made. Like Tanzania, it is probable that there will be cooperation between a local government and the commercial sector, bridging the partnership with IOG technology.
In collaboration with World Mobile, the Tanzania agreement focuses on building scalable infrastructure. The objective of the project is to give mobile Internet connectivity to Tanzania and to create the framework for socio-economic growth with digital identification.
While O'Connor remains silent on the terms of the new arrangement, he slipped by the fact that it concerns payments and transparent finances.
One million more users will be on the Cardano network
O'Connor tweeted to add 1 million extra users to the Cardano ecosystem earlier this month. In a recent interview O'Connor sidelined the topic when he questioned the terms of this transaction. Rather, he argued it was a terrible idea to exert more pressure on oneself than is required by providing specifics before contracts are signed.
O'Connor has however mentioned how this agreement would make use of the next Alonzo smart contract launch. He further pointed out that this concerns microloans and collateral loans in particular.
He stated, "I'll stress, though, that with smart contracts, we are finally very, very, very keen to ensure we develop the proper instrument for open finance applications and transfers."
The phrase open finance refers to the usage, in an economic context, of open APIs that enables developers from third parties to construct apps and services.
KPMG discusses the possibility of transforming the financial services sector through open finance. They believe that it offers numerous benefits through increased access to counseling and help in the decision-making process. In result, the new services can be stimulated, innovation, demand can be increased and company efficiency can be improved.
Early phases are still here
O'Connor has a shared opinion that blockchain technology has been mainstream acceptance. That is, when people don't even realize that they're using it, the point will arrive.
"You don't even recognize it for one year, but for those large companies Cardano might be the rear end of the financial path, and the client doesn't even know it."
When O'Connor talked further about the new agreement in Africa, he showed that the practical part of the arrangement in the research phase was still early.
"I'm striving very much to ensure that we understand these layers and industries through our collaboration with top brand partners, with whom we can build a pilot, study clothes, know what's lacking in the Cardano solution and solve it."
However, the announcement is certainly another important step in Cardano's expansion as a worldwide blockchain network.
Speculation is increasing over whose country this is concerned, and how intelligent contracts are to be used. The larger community now expects further information.
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