Charles Hoskinson on how IOHK uses blockchain to uplift emerging markets

14 May, 2019
by Richard Allen
Charles Hoskinson on how IOHK uses blockchain to uplift emerging markets

Cardano founder and Ethereum co-founder, Charles Hoskinson recently sat down with BlockTV at Consensus2019 to discuss how IOHK is using blockchain to uplift emerging markets. 

Hoskin begins by explaining his previous trip to Mongolia, describing it as “amazing country” with “a lot of great market opportunities,” but not without its problems. In addition to having the worst air pollution in the world, it also has some of the worst traffic in the world. As such, Hoskinson sees Mongolia as an opportunity to do “a lot of blockchain pilots.”

Thus, the purpose of his recent trip was “to build some relationships to actually start doing some things.” The IOHK founder explains that there are three ideas for blockchain pilots in Mongolia. The first involves an IoT project for air quality sensors, allowing for the “fraud-free, auditable, time-stamped readings to get to know where the air pollution is at for targeted enforcement.”

The second project being looked at is credential verification, stating they're interested in putting diplomas on the blockchain so people can verify that they’re a university graduate.

The third project they're interested in has to do with the cashmere industry. Hoskin explains that Mongolia makes about half of the world’s cashmere which mostly gets sold to China “at a very bad price,” so they’re hoping to innovate that sector. While they have big plans, "it's still in the pilot stage so we'll see where it goes," Hoskinson explains.

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