When it comes to the development of the Cardano blockchain and the ADA token, you can count on IOHK to seal the best deals. Cardano news about new partnerships propels adoption of the Cardano blockchain and the ADA token. A promotion in adoption of the blockchain will lead to a higher demand for the ADA token and this will subsequently lead to a surge in the price of ADA. The Cardano price prediction and Cardano price prediction 2020 are both bullish because of partnerships like this, the upcoming Cardano Shelly upgrade and the positive sentiment in the market. The most recent Cardano news is about a partnership in Mongolia that would help curb the widespread use of counterfeit drugs.
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While the Cardano development team is pushing for adoption on a global scale, it is targeting developing and underdeveloped countries first. Yesterday, the Cardano foundation announced that it has signed an MoU in Mongolia. Accjeonf to the announcement which was posted on the official Twitter handle of IOHK, this MoU was with Mongolian Blockchain Technology and it is aimed at the advancement and adoption of blockchain technology in the country. The announcement was as follows;
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“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. #FrontierFintech #crypto #blockchain #Cardano #ecosystem.”
The plans for the MoU have been in the works since last September. Cardano founder, Charles Hoskinson contacted Damdin Tsogtbaatar of the Mongolian Government in several close door meetings. The goal of these meetings was to integrate blockchain technology in the private and public sectors within the country. This May, Hoskinson said that the talks were going smoothly. In his words;
“We’re not slowing down, we’re speeding up. I’m in Mongolia, not for vacation, we’re meeting with ministers and we’ll probably have a meeting with the President [of the country.]. We’re going to talk about problems 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 pharma trust has done”, Hoskinson continued. “We’re 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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In developing countries like Mongolia, ensuring security and safety of pharmaceuticals that go through the supply chain is challenging. The country has battled with counterfeit drugs for many years and Cardano has presented the perfect opportunity to curb this problem using blockchain technology. Also, since the government is involved in the partnership, reaching mass adoption will not be difficult. While the details of how Cardano intends to integrate blockchain technology hasn’t been revealed, it is certainly going to showcase all the use cases of the blockchain including the use of the ADA token.
This isn’t the first move Cardano has made into the supply chain management sector. A while ago, the company partnered with a United Kingdom based pharmaceutical security company that focuses on supply chain safety, FarmaTrust. Using the Cardano blockchain, the company would be launching a product that would aid in its battle against counterfeit drugs.