El Salvador signed a cooperation agreement with Koibanx to develop the government’s blockchain infrastructure on Algorand.
There was widespread speculation that Cardano would be chosen, following talks between its founder Charles Hoskinson and Bukele’s brothers about the creation of a national stablecoin – the colon dollar. However, Algorand came out on top with the team rumoured to have been racing to show they could be the first to bring the colon dollar to fruition.
Approaching national governments seems to have become a major strategy for ALGO, with the firm commissioned by Brixton city council to tokenise the local ‘Brixton Pound’ – an independent localised currency aiming to encourage people to shop locally – and an even bigger project delivering a tokenised digital currency to the Marshall Islands.
While most of major crypto current suffers a double digital loss during the market melt down, Alrogrand price has increased more than 100% in the past 7 days.
