Afghanistans Largest Energy Supplier Enlists Fantom to Build Blockchain Pilot

Afghanistans Largest Energy Supplier Enlists Fantom to Build Blockchain Pilot

Da Afghanistan Breshna Sherkat, better known as DABS, is Afghanistan’s largest energy supplier. The power provider has announced a pilot project with Fantom, the blockchain company that is fast developing a reputation for innovation in the region. An MoU struck between the pair will see Fantom develop a prototype for auditing core DABS processes, and is estimated to be ready in four months.

The deal with DABS, following one struck between Fantom and Afghanistan’s Ministry of Health, is further evidence of blockchain’s globalization. While blockchain technology has been used to route payments and transfer data on a global basis since 2009, enterprises on every major continent are now experimenting with the tech, launching pilots and even commissioning full scale projects for everything from digital payments to supply chain management.

Fantom Accepts the Challenge Laid Down by DABS

Blockchain networks are generally slower than centralized databases – though Fantom may beg to differ, since its aBFT consensus mechanism supports instant payments and high throughput. Regardless, it is not for these reasons that DABS is exploring the use of blockchain. Rather, the company is interested in the tech’s well-documented ability to provide transparency and an indisputable record of data entry. From an auditing perspective, Fantom’s prototype should give DABS a clearer indication of how its energy infrastructure is being used in the sprawling country of Afghanistan, and help to identify areas for improvement.

As DABS CEO Daud Noorzai explained, the company “is placing greater emphasis on improving the country’s energy supply infrastructure and on strengthening its ability to meet current and future electricity demand across the country. Utilizing advanced software technology tools, including blockchain-based technology, will enable us to achieve our goals at a faster pace.” 

“We are looking forward to using the latest software technology tools, including blockchain, to modernise their infrastructure and create long-term efficiencies,” added Fantom CEO Michael Kong. “We hope to conduct significant business in the country going forward, which has a lot of potential.”

Blockchain All the Things

As 2020 winds down, it’s hard to think of a major industry or company that isn’t exploring the use of blockchain in some capacity. From JPMorgan to Facebook, and from accountancy firms to shipping companies, blockchain is being trialled in all manner of environments. The technology may not necessarily be the solution that’s required in every case – hence the preponderance of pilot projects – but the sheer number of blockchain trials being undertaken indicates that the tech is here to stay. 

Afghanistan, despite not being known as a tech hub, is quietly doing its bit to normalize the use of blockchain, thanks in no small part to Fantom. The blockchain firm’s June revelation that it was developing a system with the country’s Ministry of Health to combat fake pharmaceuticals has been followed by the DABS announcement, as Afghanistan undergoes a modernization process that will leave no industry untouched.

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

You can share this post!