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Cardona (ADA) Foundation Inked Deal With Mongolian Blockchain Technology

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While the array of industries around the world looking to engross the Blockchain and cryptocurrency, Cardona takes the different turn by introducing Blockchain to the industries of the developing countries.

As per the recent announcement by the company, Charles Hoskinson founder of Cardano has visited Mongolia, where the company inked a deal with the country’s Blockchain technology to help the enhancement and development of advanced technology in the country.

Hopkinson revealed that during his visit to Mongolia, he has discussed various routes to integrate the technology for innovating the Mongolian private sector and business sector.

Cardona announced the news at the frontier Blockchain summit held in Mongolia. Meanwhile, the deal between them also involves other prominent bodies such as cryptocurrency association and Mongolian fintech association. While Cardano is rolling up to benefit magnolia with the implementation of the decentralized ledger technology into the various sector in the country. 

Talking about the deal signed in the summit, Cardano revelled on twitter posting

“Today, IOHK signed an MoU with Mongolian Blockchain technology and cryptocurrency association and Mongolian fintech association. This MoU is to help implement and foster Blockchain project development in Mongolia.”

With this deal with the magnolia government, Cardona seems not to slow down in introducing Blockchain in developing nations. According to the Charles Hoskinson, CEO of IOHK, he has been in talks with the Mongolian foreign minister, Damdin Tsogtbataar since September last year.

And recently in May 2019, Hoskinson revealed that he is in Magnolia for another scheduled meeting with the minister and looking forward to having a meeting with the president of the country.

He also added that its previous meeting with the Mongolian ministers was in regards to the problem related to supply of counterfeit drugs. Hoskinson stated that “we are going to talk about the problem like 18% of the medicine (in Mongolia) is counterfeited or adulterated and 40% in the rural areas is, counterfeited or adulterated. So how do you put a traceability program like what pharmacy trust has done.”       

He further explained that “we are talking about the fact that 93% of the people here have some access to mobile banking and 30% receive government disbursements, [but at] enormous costs.”

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