news and opinion|21 November 2019|share

Cardano Foundation to work with African nations to develop blockchain governance

Bakyt AzimkanovGlobal PR and Communications Director

PORT LOUIS, MAURITIUS, 21 NOVEMBER 2019. The Cardano Foundation expands its reach to 54 countries on the African continent to build blockchain governance to future-proof the region’s sustainable growth and development. One of the world’s leading not-for-profit blockchain organizations helps law-making bodies and policymakers in Europe and Asia, and now in Africa, to shape legislation and commercial standards – in line with one of the Cardano Foundation’s missions.

Nathan Kaiser, Chairperson of the Cardano Foundation, says:

“Legislation is key to adoption and real use cases of blockchain. The Cardano Foundation is proud to be at the forefront of shaping blockchain-enabled sustainable growth in Africa. We are open to work with the continent’s countries to establish robust governance policies, assess existing laws and policies. Our aim is to help African nations to shape legislative and commercial standards while ensuring accountability, which in turn will create new jobs and ensure sustainable growth. Blockchain will afford African countries to diversify their economies and help the continent to increase its innovation and investment attractiveness.”

Mauritius, a Republic with an established regulatory framework for the custody of digital assets, is blazing a trail for other African nations to follow and is hosting the Building blockchain bridges roundtable this week. The Cardano Foundation’s active involvement in the roundtable in Port Louis will further boost the Mauritian government’s efforts to cement its position as a fintech hub in Africa.

The Switzerland-based Foundation has joined forces with the African Leadership College, Economic Development Board and the University of Mauritius, and the Embassy of Switzerland, Swiss Blockchain Federation, Crypto Valley Venture Capital and Switzerland Global Enterprise to lay the groundwork to future-proof the blockchain industry in the island nation.

The Cardano Foundation already supports various initiatives that focus on blockchain governance, implementation, fintech conduct, smart contract frameworks and education both in Africa and beyond and has active Cardano communities in Nigeria and Rwanda.

As the industry continues to mature and see more adoption from the traditional business sectors, blockchain is becoming an empowerment vehicle exponentially increasing the need to develop blockchain governance policies to spur economic growth and its diversification.

About the Cardano Foundation: The Cardano Foundation is an independent Swiss standards body that oversees and supervises the advancement of Cardano and its ecosystem. The Foundation’s core focus is in developing a Cardano adoption strategy through to integration and execution, to enable fast-track value creation for inclusive and equitable growth. As the legal custodian of the protocol and the owner of the Cardano brand, the Foundation works to drive adoption and partnerships, grow the wider blockchain community, shape legislation, and commercial standards, and ensure stakeholder accountability. Find out more: www.CardanoFoundation.org