The independent Input Output Hong Kong (IOHK) has joined the American Chamber of Commerce in Mongolia, or AmCham Mongolia, according to a tweet sent on Tuesday.
“[AmCham Members] We are very excited to announce our newest member @InputOutputHK, a leading technology company committed to the highest principles of academic rigor and evidence-based software development,” AmCham Mongolia announced its meeting with Charles Hoskinson and his team via a tweet from their official accounts.
IOHK shared the Twitter announcement and expressed interest in cooperating with the group that builds, strengthens, and protects business ties between the US and Mongolia.
The group has worked with only one blockchain company, IOHK, according to the members’ website. After the most recent news, it wouldn’t be unexpected to see IOHK introduce various blockchain initiatives in the nation of East Asia, just as it has in Africa.
The adoption of cryptocurrencies and blockchain technology is rapidly rising in underdeveloped nations with little confidence in centralized institutions. IOHK is aware of this and intends to play a role in promoting blockchain use in these regions.
The much-anticipated Vasil hard fork, which has already launched on the Cardano testnet, is about to take place on the Cardano mainnet. Since the Alonzo hard fork in September 2021, which enabled Cardano smart contracts, the Vasil upgrade will be the network’s most important update.
The upgrade is expected to be live on the mainnet at the end of this month bringing in a surge of DApps with increased scalability and throughput. According to IOHK, it is both Cardano’s biggest and best enhancement yet and their most challenging project to date.