In a recent Twitter Spaces, Staci Warden, new CEO of the Algorand Foundation, announced that the Algorand Foundation has struck a deal with one of the largest smartphone manufacturers in Africa.
The CEO of the smartphone company came to the realization that Africans can afford smartphones but can’t afford to pay for them all at once, which is why he wants to offer smartphones where you pay a larger sum at the beginning and then a monthly subscription fee. The subscription also includes a preinstalled tech stack, which will also include the Algorand Wallet. In addition, a neobank is being worked on. The neobank, which builds on Algorand, will offer a whole suite of financial products from insurance to loans. In addition, people will of course have access to the various Algorand projects such as supply chain management for farmers and so on.
The company is also working on licensing deals with other manufacturers such as Apple so that more smartphones can be offered. After one year, the smartphones will be upgraded automatically. The whole thing is to start soon in Tanzania.
Source: [ (Timestamp: 1:29:01)
A mediocre partnership sometimes doubles coins and tokens, yet Algo is still under 1$ with all these crazy news about it
Uganda wish you bought Algo earlier
From an african perspective, I find it hard to believe this will be as successful as she wants it to be. Here is a few walls they are sure to run into:
1. You have to work with local governments first. It is impossible, in Africa at least to build a tech that is core to the economy without working with governments. So their focus should be on getting into partnerships with the governments which isn’t easy.
2. They will somehow have to discplace **mobile money** which is huge in Africa and quite easy for even the not so highly educated citizens to understand. The mobile money is usually provided by telecom companies or private ones. Like in the west, the telecoms there have a lot of pull on the smartphone manufacturers.
Algorand competing with Cardano in Africa?
Great news for Algorand. It’s a top quality project that I’m sure will do well.
ALGO is the future.
Bullish AF. Algo will be in the top 5 sooner or later.
A blockchain with a real uscase. Love it
Does the recording mention if anything is being done to facilitate everyday people’s use of Algo? Having the wallet pre-installed is one thing, but it’s essentially bloatware if the tech stack doesn’t also make access to the exchanges and p2p transactions quite easy for those who may have little or no experience with smartphones.
Algorand is slowly but surely improving to become a serious top 5 contender.
Algo is a top project, just watch out for this beast
ALGO my favourite coin for long term.
I actually bought a bit of Algo cause someone on this sub recommended it. Wild times!
I like how “borderless” the team behind Algorand thinks and acts. It is almost as if they carry the true spirit of decentralization! Yeah, it sounds pretty romantic but truly feels this way. This is maybe the inevitable result you get when you have a well-designed blockchain and a really good team managing it!
Nice.
I have a shit ton of Algo, so I’m hoping stuff like this starts reflecting on the price.
Does anyone know the name of the manufacturing company?
Could have an algorand monument built in ever village in Africa and installed on every African phone and it wouldn’t do anything for the price. Great for adoption I guess but until these sorts of articles start to consistently read “USA” or “Europe” or “China” or “Japan” or “India” then it doesn’t really matter.
Looking Lionish for Algorand. That’s what progress actually looks like, a convenient option – not a country-wide mandate.
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Love to see it!
So, the deal is just to have Algorand wallet as pre-installed bloatware?
Africa is the emerging market.
If you think this is bullish, just wait for C3 to drop
Cool, Cardano and Algorand can now go fight each other over in Africa.
Only 1 is able to return, since we certainly don’t need both.