Cardano (ADA) to help tackle counterfeit drugs In Mongolia

  • Cardano Foundation continues to drive blockchain adoption in developing countries.
  • The deal was announced to tackle problems like adulterated drugs. 

Cardano disclosed on Twitter that Input Output Hong Kong (IOHK) had inked an MoU with Mongolian Blockchain Technology. The deal took place in Mongolia at the Frontier Blockchain Summit which involved bodies like Cryptocurrency Association and Mongolian Fintech Association. The day 2 program was launched by the country’s Foreign Affairs minister Damdin Tsogtbataar. CEO of IOHK, Charles Hoskinson, has been interacting with Tsogtbaatar since September 2018 to introduce blockchain technology in the country.

Hoskinson reported that he’s in Mongolia for a scheduled meeting with their political figures:

"We’re not slowing down, we’re speeding up. I’m in Mongolia, not for vacation, we’re meeting with ministers and we’ll probably have a meeting with the President [of the country.].”

Addressing problems like adulterated drugs, Hoskinson added, 

“We’re going to talk about problems like 18% of the medicine [in Mongolia] is counterfeited or adulterated and 40% in the rural areas is counterfeited or adulterated. So how do you put a traceability program like what pharma trust has done. We’re talking about the fact that 93% of the people here have some access to mobile banking and 30% receive government disbursements, [but at] enormous costs.”

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