Fantom, a blockchain platform that's known to be the fastest network, ensuring security, scalability and speed is making waves in the Asian and Middle Eastern market. With a growing list of partnerships with companies and governments across the region, the project is positioning themselves as one of the fastest growing and most versatile platforms on the market.
Fantom is a high-performance, scalable, and secure smart-contract platform, specially designed to overcome the limitations of previous generation blockchain platforms.
It's fully permission less, decentralized, and open-source, and aims to provide users with one of the most reliable and innovative blockchain systems available on the market anywhere in the world.
In layman's terms, the platform can be used for a variety of purposes, including in the world of cryptocurrency, where Fantom allows transactions to be completed within 1 second. Fantom is also EVM compatible with developers having the ability to deploy contracts just like on Ethereum.
Fantom has the ability to run smart contracts, which are pieces of code put together to create decentralized applications, known as dApps. This makes Fantom not only ideal for crypto transactions, but also finance applications themselves, supply chain management, authenticity tracking, and security data basing designed to hold sensitive information such as medical records.
In recent weeks, Fantom has seen a huge uptick in growth across Asia and the Middle East. For example, the group recently signed a Memorandum of Understanding with the Pakistan Punjab Prisons Department to implement custom blockchain Enterprise Resource Planning (ERP) software.
The department's use of the Fantom platform will provide the group with efficient company data flow tools, immutable databases, and transparent operational commands for effective data-driven decisions, all within a secure environment.
Fantom's platform is also being seen at the heart of government, with the group recently signing a deal with Pakistani province Khyber Pakhtunkhwa, or KPK, to digitize KPK's Provincial Assembly and related government departments.
Earlier this week, Fantom met directly with Mushtaq Ahmed Ghani, the Speaker of the KPK Assembly, to work out the details of the project, one of the largest in the Asian nation.
Meanwhile in Afghanistan, the Afghani government has sought the use of Fantom in a variety of fields, including the official Afghanistan National Standard Authority, the body responsible for issuing the country's certifications.
Fantom is also currently in use by the Afghanistan Railway Authority - the leading government department in the country, generating the most revenue.
And while Asia and the Middle East are seeing some of the most prominent growth, other nations such as that in Europe are also taking advantage of the technology, with the Ukrainian Government choosing to partner with Fantom to facilitate the nations intellectual property database.
Ukraine's Ministry of Digital Transformation signed an agreement with a third party company in February, aiming to create a reliable platform on the Fantom blockchain.
For more information on Fantom, visit www.fantom.foundation.