Domineum Provides the Toolkits for Achieving Developmental Goals Among the Developing Nations of the World

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January 21, 2020 by
Domineum Provides the Toolkits for Achieving Developmental Goals Among the Developing Nations of the World

The rejuvenation of the political space in Sierra Leone has generated significant interest across the region. After a period of serious political unrest, the African nation deserves some credit for its achievements so far in maintaining peace and pursuing meaningful development. Moreso, it is standing up to be counted as one of the early adopters of the progressive technology, blockchain.

Sierra Leone Adopts Blockchain Technology

Sierra Leone’s partnership with leading blockchain solutions platform, Domineum is one of the first major adoption of the technology by an African government. For the purpose of cargo tracking, the government of Sierra Leone has entered into partnership with Domineum. This has led to the rejuvenation of the revenue generation of that instrument of government. It also ensures proper quality control and monitoring of shipments into and out of the country.

As we consider this development, the role of the country’s leadership cannot be overemphasized. The government’s decision to welcome innovative solutions has opened the way for significant development. Coming from an African region that is known for high level of corruption, much credit has to go to the President of Sierra Leone. Also to the other members of government who are focusing on transparency in governance. Something that has been difficult to achieve across most of the developing countries, especially in Africa.

When there is no transparency in governance, and the people are denied access into the dealings of government, then politicians can do whatever they like. That is the fundamental problem across many corrupt nations. The incumbent secrecy and unverifiable nature of governance creates a conducive environment for corruption to thrive. Therefore, for the corrupt officials in these regions, they’ll rather reject innovations like blockchain technology to continue with the status quo.

Domineum Was Built With Purpose in Mind

As a purpose-built platform for effective record management, Domineum deploys its native distributed ledger to enable governments manage processes effectively. The company’s expertise does not end with data tracking alone. It extends to other areas like the record management of land titles, geospatial management and real estate financials.

These areas of expertise described above make it very ideal for Domineum to partner effectively with governments, especially in the developing parts of the world. The platform provides a leapfrogging opportunity for these regions that will enable them to catch up with others that have gone ahead.

The Julius Maada Bio led government of Sierra Leone that came into power in 2018 promised to tackle corruption. This partnership with Domineum represents a concrete step towards the delivery of this promise. 

The Many Benefits of Blockchain Implementation

The implementation of an innovation like blockchain automatically reduces the interference of the human element to the barest minimum. This is the ideal way of fighting corruption and eliminating fraud from traditional systems. Beyond that, it also creates the room for an improved execution process for tasks within the operational systems.

Having been described as the first non-cryptocurrency blockchain solution, the implementation of Domineum is clear and well defined. It is a platform that provides the necessary toolkits that will help governments function better. Just like the cargo tracking case of Sierra Leone, solutions from Domineum are designed to improve transparency and traceability of processes. 

These toolkits will help governments to manage resources more effectively and avoid the usual waste associated with traditional systems. Supply chain management and record keeping are simplified and made more effective. Ultimately, the solution can serve as a reliable system to governments fulfill their promises and live up to expectation.

 

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