Apollo Foundation is announcing an MOU with the nation of Lesotho to develop and implement blockchain technology in various government departments and initiatives. The Ministry of Communications, Science and Technology acted on behalf of the Lesotho government in signing the memorandum of understanding with the foundation.
The main objectives of the blockchain initiative are to:
- Create new wealth in the private sector by harnessing Apollo fintech solutions
- Design and implement new government systems
- Reduce financial crime
- Maximize the commercialization of the nation’s mineral wealth
- Eradicate challenges like unemployment, poverty and educational constraints
“Lesotho is working to become a leader in technology,” says Steve McCullah, director of business development. “We are confident Apollo can help accomplish this mission.”
The Southern African nation of 2.2 million has a large number of opportunities to improve its economy, including the export-import sector, remittances from workers, and the mining and trade of diamonds. Apollo blockchain technology is seen as a key solution to improving government services and initiatives, reducing the friction of cross-border remittance payments, and advancing the commercialization and trade of mineral wealth, especially diamonds.
Global spending on blockchain will reach $12.4 billion by 2022.
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Apollo (APL) all-in-one currency combines nearly all features of mainstream cryptocurrencies into the fastest blockchain in the world. Boasting features and advancements such as the first implementation of database sharding, adaptive forging, atomic swaps, two-second blocks, encrypted messaging, a decentralized marketplace, a decentralized exchange, decentralized applications, and decentralized file storage, Apollo stands as the most feature-rich cryptocurrency on the market and one of the most advanced.