Charles Hoskinson is one of the most influential and well-known figures in the crypto world. He was there from the early days, and he even helped create Ethereum and Ethereum Classic. After that, he became the CEO of IOHK and founded Cardano — another one of the top currencies today.
Now, it appears that Hoskinson has another project in mind, and this one will take him to the African continent. Hoskinson’s new team-up is with none other than the government of Ethiopia, with which he plans to launch an enterprise blockchain framework and start providing financial services to millions upon millions of people in African countries.
The framework is known as ‘Atala,’ which is the name of a butterfly native to Florida. It will serve as a solutions provider for various companies, developers, and even governments that have the desire to implement new products. Speaking about the project, Hoskinson stated that Atala is an enterprise framework, not so different than Hyperledger Fabric.
He pointed out that the point is bringing solutions to those who require municipal currency, as well as a supply chain management system. Finally, Hoskinson stated that to achieve this, the framework must be the type that would serve as libraries and modules, and that products for end users must be created quickly.
The importance and potential of Atala
As mentioned previously, Atala is rather similar to Hyperledger Fabric — the open-source framework used by the IBM Blockchain. However, there are some key differences, such as the framework’s focus on governments in developing countries, rather than on large companies.
In addition, the framework was created from the ground up, and it was designed for real-world use. It is expected to be used for thing s such as voting systems, property registration, supply chain management, and more. Also, it will focus on driving crypto adoption in Africa, as well, which is not usually the mark of an enterprise blockchain framework.
In fact, this is the first thing that Atala will be used for, in Ethiopia. According to Charles Hoskinson, the plan is to work with the Ethiopian government to develop a new digital currency — one which could be used for providing a dependable and secure method of payment for the nation’s capital.
Hoskinson added that there are already several Memorandums of Understanding signed, with the most prominent one being planned as a utility currency for Addis Ababa, Ethiopia’s capital. It is estimated that the new digital payment system will allow six million users to pay their bills via the digital currency. In the future, this technology might also be combined with an identity card, according to Hoskinson.
Another thing to note is that Atala will not be limited to Ethiopia, but will be introduced in other countries of Africa, as well. Ethiopia will only be among the first ones to use it and enable new, smart economy. But, Hoskinson also noted that Atala would service other enterprise industries as well, as long as they are interested in seeking blockchain adoption.
Dealing with blockchain interoperability issues
As part of its efforts, Atala will also attempt to allow users to move their funds between different blockchains. One of the biggest issues that the blockchain industry is facing now is the lack of interoperability. This is a problem, especially for enterprises, and Hoskinson believes that there are not enough discussions regarding the methods of blurring the lines between permissioned and permissionless systems.
He believes that it is imperative to find an easy method of moving the user value between the two, and without alerting everyone just because the user wishes to experience working on a different chain. But even more important is the fact that blockchain interoperability would push mass adoption. It would create a massive new network which would bring new possibilities, and improve old and new technologies alike.
Hoskinson believes that the only way of getting 15 million Ethiopian farmers into a crypto-based system is to get them into a supply chain system first. Once they get into the system, they will learn of crypto, and start using it out of pure convenience, if nothing else. That way, millions of people would enter the blockchain, and that would be only the beginning.