Blockchain infrastructure company DSRV is expanding its digital finance initiatives into Ethiopia after demonstrating the effectiveness of its blockchain-powered agricultural voucher platform in Madagascar. The company is seeking to establish a Korean-style digital infrastructure model integrated with official development assistance (ODA), aiming to deliver broader public digital services rather than focusing solely on payment systems.
The announcement was made during the Ethiopia x K-Digital Connect 2026 forum, held at DSRV’s headquarters in Seoul. The event brought together representatives from the Ethiopian government and Korean technology companies to discuss digital transformation initiatives and explore opportunities for collaboration in areas including blockchain, artificial intelligence, and cybersecurity.
According to DSRV Co-Chief Executive Officer Suh Byung-yoon, the Madagascar pilot confirmed that blockchain technology could be effectively adapted to local conditions while significantly improving the transparency of agricultural subsidy distribution. He stated that the successful demonstration encouraged the company to expand partnerships with Ethiopia and other African nations to develop a model for exporting Korean digital infrastructure supported by ODA programs.
Ethiopia Advances National Digital Infrastructure
During the forum, members of the Ethiopian delegation outlined the country’s ongoing digital public infrastructure (DPI) program, which is being developed in partnership with the World Bank. The initiative is designed to integrate financial services, agriculture, and government services through a unified platform centered on Fayda, Ethiopia’s national digital identity system.
Officials reported that approximately 47 million citizens have already been enrolled in the digital identity platform, while around 150 public and private institutions are connected to the network. They added that the system currently processes nearly 2 million identity authentication requests each day, demonstrating substantial nationwide adoption.
Rahel Abraham, Director of National ID at the Ethiopian Prime Minister’s Office, explained that Ethiopia had developed an offline identity authentication system using QR codes and blockchain-enabled digital wallets to address the country’s relatively low internet penetration. She noted that reliable identity verification and beneficiary authentication remain essential components of government social welfare initiatives, particularly agricultural subsidy programs that support one of Ethiopia’s largest economic sectors.
DSRV plans to build blockchain-based digital financial services on top of Ethiopia’s existing digital public infrastructure, leveraging the country’s nationwide identity platform to improve subsidy distribution and financial operations.
Madagascar Project Serves as Blueprint
Following discussions with Ethiopian officials during the forum, DSRV said it intends to continue technical consultations and pursue more detailed cooperation through separate meetings. The company expects multiple partnership models to emerge, including integrating its blockchain financial services into Ethiopia’s existing infrastructure or deploying the agricultural voucher platform that was previously tested in Madagascar.
The Madagascar initiative was funded through the Korea-World Bank Partnership Facility with a project value of approximately $900,000. The system records digital identity information and voucher transaction histories on DSRV’s proprietary Ethereum Layer 2 network, which the company has operated since last year.
The blockchain-based voucher platform was specifically designed to function in regions with limited connectivity, enabling agricultural subsidies to be distributed and redeemed offline using only near-field communication (NFC) cards without requiring smartphones or bank accounts.
According to Suh, the Madagascar demonstration involved roughly 1,000 participants during the first half of the year and received favorable assessments from both the World Bank and the Madagascar government. Based on those results, discussions are underway to expand the initiative to approximately 95,000 beneficiaries during the second half of the year.
He further stated that exporting digital infrastructure through projects linked to official development assistance could create a new pathway for Korean technology companies seeking international expansion. He suggested that combining blockchain technology with government-backed development initiatives could provide scalable digital infrastructure solutions for emerging markets while strengthening financial transparency, public service delivery, and inclusion across developing economies.
The planned expansion into Ethiopia marks DSRV‘s next step in extending its blockchain infrastructure strategy across Africa, using proven technology from Madagascar to support large-scale digital identity, subsidy, and financial service modernization.
