The IOTA Foundation is making significant strides in Africa with its ADAPT program, which is poised to revolutionize trade across the continent. By leveraging blockchain technology, the initiative aims to streamline processes and reduce costs for businesses in several key regions. The report highlights positive developments indicating that the program is gaining traction and support from local stakeholders.
ADAPT Program Launch
Set to launch pilots in Kenya, Ghana, and a North African country by the end of 2025, the ADAPT program focuses on enhancing trade efficiency. The use of blockchain technology is expected to drastically reduce clearance times from weeks to mere minutes, facilitating smoother transactions and fostering economic growth.
Empowering Local Businesses
This initiative not only aims to improve logistics but also to empower local businesses by providing them with the tools needed to compete in a global market. The IOTA Foundation's commitment to innovation in trade could serve as a model for other regions looking to modernize their economic frameworks.
In a significant development, VeChain has activated its Hayabusa upgrade on the mainnet, enhancing its blockchain capabilities. This milestone contrasts with IOTA's ongoing efforts in Africa through the ADAPT program. For more details, see Hayabusa upgrade.
