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Fantom Launches Blockchain Pilot With Afghanistan Energy Giant DABS to Increase Efficiency

·4 min read

KABUL, AFGHANISTAN / ACCESSWIRE / December 18, 2020 / Blockchain network Fantom has entered into an agreement with energy giant Da Afghanistan Breshna Sherkat (DABS), and will launch a pilot to increase efficiencies within the organization's data centers and energy grids. The MoU signed between the pair is the second agreement Fantom has sealed in Afghanistan, following a similar deal with the country's Ministry of Health.

Fantom will demonstrate the suitability of its blockchain technology to migrate an existing audit database within the scope of the pilot. Fantom will also demonstrate an ERP blockchain suite demo and CRM platform that has been tailored to DABS' specifications. Upon the successful completion of the prototype, DABS and Fantom will look to establish formal contract agreements and develop a long-term business relationship.

The pilot will look to solve loopholes within the meter-to-cash cycle and energy mismatches to build state-of-the-art efficiency solutions within the energy grid. In addition, low security capabilities led to unauthorized modifications to the system. DABS is looking to confront these problems by enabling a blockchain-based ERP solution which completes data workflow and authorization management systems, and thereby reduce their costs and increase the efficiency of their systems.

"Fantom is excited to be working with DABS, the largest energy company in Afghanistan," said Fantom CEO Michael Kong. "We are looking forward to using the latest software technology tools, including blockchain, to modernise their infrastructure and create long-term efficiencies. We hope to conduct significant business in the country going forward, which has a lot of potential."

Mr. Daud Noorzai, CEO of DABS added: "DABS is seeking to enhance customer services, promote transparency, reduce energy loss and increase energy supply to boost economic development in Afghanistan."

The build out of the prototype is expected to take four months to complete, after which a real-time demonstration will occur, incorporating all of the modules from Fantom's prototype.

Mr. Dashty, DABS's Revenue and Reform Deputy, commented as well: "DABS is placing greater emphasis on improving the country's energy supply infrastructure and on strengthening its ability to meet current and future electricity demand across the country. Utilizing advanced software technology tools, including blockchain-based technology will enable us to achieve our goals at a faster pace."

In June, Fantom revealed that it had entered into a Smart Medicine project with the government of Afghanistan to combat the spread of counterfeit medication. Fantom's technology is being used to create an immutable audit trail to ensure that pharmaceuticals are not tampered with at any stage of the distribution process. Its latest partnership with DABS bolsters Fantom's presence in the region, establishing it as the preeminent provider of enterprise and government blockchain solutions.

The partnership has been established with the help of SKChain, a London-based blockchain consulting firm.

About DABS
DABS is Afghanistan's national and fast growing energy utility company. It manages and operates electricity production, import, transmission, and distribution across the country.

DABS is actively looking on how to leverage the latest technology tools, helping their customers by increasing uptimes, decreasing costs, and expanding energy efficient solutions across their nation to enable easy energy access to all Afghanistan citizens.

Afghanistan currently generates electricity utilizing hydroelectric plants, fossil fuels and solar panels.

For more information, please visit: https://main.dabs.af/

About Fantom
Fantom is a fast, scalable, and secure layer-1 platform built on an aBFT consensus protocol. The speed and low transaction costs make Fantom ideal for real world uses, such as payments, supply chain, and defi applications. Its technology is used in a pilot program in Afghanistan to help solve drug counterfeiting and is the first of many government initiatives the Fantom Foundation is pursuing.

Fantom recently released Fantom Finance, an all-in-one defi suite for trading, lending, and borrowing directly from the Fantom Wallet. Users can supply the native cryptocurrency to mint fUSD, a US dollar pegged stablecoin.

For more information, please visit: https://fantom.foundation/

Dan Edelstein

SOURCE: Fantom

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