Fantom, the high throughput blockchain network for DeFi and enterprise, has announced a major new pilot. The deal with Afghanistan’s largest energy supplier, DABS, will entail building out a blockchain-based auditing system in the landlocked country that lies at the crossroads of Central and South Asia. Remarkably, the pilot isn’t Fantom’s first in the country, having struck a similar deal with its Ministry of Health earlier this year.
Explaining the rationale behind the pilot project, DABS CEO Daud Noorzai said:
"DABS is seeking to enhance customer services, promote transparency, reduce energy loss and increase energy supply to boost economic development in Afghanistan."
In essence, the prototype Fantom is developing will connect the energy company’s disparate systems, providing a clear audit trail and ensuring that inventory and processes are properly accounted for. This should help to reduce waste and lower expenditure. DABS is currently undertaking a major overhaul of the country’s energy grid, a mammoth task given the size and topography of Afghanistan.
First Pharma, Then Power
In July, Fantom revealed that it was working with Afghanistan’s Ministry of Health to develop a solution for tracking pharmaceuticals. Substandard and falsified medication is a global problem that is endemic in Afghanistan, where 40% of medicine and medical equipment that enters the country is believed to be contraband. This can have major consequences from a healthcare perspective, and thus there is broad support for any solution that can mitigate the scourge of fake medication.
While the pilot Fantom is engineering for the country’s main energy supplier doesn’t have life-or-death consequences, it will serve as a valuable testbed for determining the sort of efficiencies that DLT can deliver on a national scale. The focus will be on better matching energy supply and demand and on identifying issues with cash meters that are used to bill citizens for energy consumption.
Blockchain Companies Find Fertile New Pastures
Afghanistan isn’t a country synonymous with blockchain, or indeed with innovative technology of any nature. Fantom has single handedly put the country on the map, however, as a hotbed of blockchain acceptance following two high profile pilot projects this year. The deal with DABS benefits both parties, allowing the energy giant to show its commitment to modernization, while providing another demonstration of Fantom’s tech.
Blockchain has undergone a curious adoption cycle since the idea of separating it from the cryptocurrency it transports was first mooted. From 2015-2017, a "blockchain not bitcoin" movement emerged, as tech CEOs expressed admiration for Bitcoin’s novel distributed ledger, even if they were skeptical of the digital currency itself.
Fast forward to 2020, and Bitcoin and blockchain have learned to happily coexist. While the blockchain network that began it all is in rude health, blockchain has spun off and become a thriving industry in its own right, powering supply chain management, IoT, insurance tracking, auditing, and much more. JPMorgan has developed its own in-house blockchain system, while Visa is working on its own payments blockchain.