The southern nation of Lesotho has signed an MoU with Apollo Foundation for the development and implementation of blockchain technology in various government departments and initiatives.
The objectives of the blockchain initiative include:
- Create wealth in the private sector by harnessing Apollo fintech and blockchain solutions
- Design & implement new government systems
- Reduce financial crime
- Maximize the commercialization of the nation’s mineral wealth
- Eradicate challenges like unemployment, poverty, and educational constraints
The MoU was signed by Hon. Thesele Maseribane, Minister of Communications, Science and Technology, on behalf of the Lesotho government.
Speaking about the new partnership, Steve McCullah, Director, Business Development, Apollo Foundation, said:
“Lesotho is working to become a leader in technology. We are confident Apollo can help accomplish this mission.”
The Apollo cryptocurrency (APL) and blockchain offer some unique feature-sets that make them ideal for such government-wide implementations. Some of these include:
- Adaptive block generation technology that improves efficiency by triggering the creation of blocks only in the presence of transactions which increases speed, reduces size of database, and allows for guaranteed transactions
- Chain ID functionality that allows different types of blockchain networks, and its segments, to separate and protect against parasitic traffic, making operations faster and more stable
- Apollo blockchain explorer which allows you to look up any public transaction on the blockchain, explore blocks, and much more
- Open to anyone interested in becoming a localized apollo DAB (Decentralized Apollo Bank)
- The Apollo wallet platform that comes fully equipped with features such as a peer-to-peer decentralized exchange, voting, secure messaging, decentralized DNS and coin shuffling, and more
- Atomic swaps technology is embedded allowing two parties to exchange crypto assets between two separate blockchains without the assistance of intermediaries on the Apollo DEX
Nation of Lesotho Signs MOU with Apollo Currency
— Apollo Currency (@ApolloCurrency) November 6, 2019
Lesotho has a population of 2.2 million people with huge potential to improve its economy due to its mineral wealth, especially diamonds. The partnership is expected to boost the country’s export-import sector, the mining and trade of diamonds, and reduced friction of cross-border remittance payments.
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