Cardano (ADA), the fourth-largest cryptocurrency by market cap is currently bullish with ADA price trading at $1.43, even when other crypto assets are going through a bearish phase. The blockchain is going through a key transition phase that would make it smart contract compatible with the upcoming Alonzo hardfork. The hardfork would, in turn, help it compete against the likes of Ethereum, Solana, and Polkadot and become a growing hub for Dapps.
Amid ongoing critical updates to the network, Cardano Foundation launched its five-year strategy yesterday as CEO Frederik Gregard revealed upcoming goals for the network. With the focus on achieving widespread adoption by masses and expand into legislation.
Cardano’s 2022 priority target is to onboard 50 banks. This will place the Cardano foundation’s blockchain into routine financial transactions. However, to gain support from banks, Cardano first needs to attract more users onto their blockchain.
Cardano (ADA) plans to secure 50 banks by 2022
Cardano’s aim of bringing 50 banks on board by next year that will use ADA will secure their blockchain a bigger customer base. They are targeting all groups, including conventional liquid users. Cardano foundation’s objective is to increase interoperability for financial inclusion by taking Defi into a regulated space like banks and increase government and institutional faith in the Defi ecosystem.
The banking partnership would enable Cardano users to easily convert fiat to ADA and vice versa.
- Short term goal to gain user-base
Build & operate a Blockchain explorer – Documentation feedback – Create an educational program; to not only increase technical understanding within the Cardano foundation but also decrease the institutional trust gap and expanding the future user base, by providing easy access to data.
- Long-term Goal
Cardano is aiming to promote growth in wallet addresses & increase diversity in the on-chain activity. It will lead the regulated Defi market to stay regulated, however, there shall be no more requirement for intermediary support. With the increase in on-chain diversity and wallet address, Cardano’s target is to bridge the gap between dependency on intermediaries and a regulated as well as an approachable decentralized system of finances.
- Portugal opens First Physical Store for Buying and Selling of Bitcoin
- “This Irritates Me”- Elon Musk Slams Twitter’s Integration Of NFTs
- Crypto Mayhem Grips Markets, $230 Billion Decimated In Massive Red Friday Selloff
- New York City Mayor Eric Adams to Buy Bitcoin (BTC) and Ethereum (ETH) Dips Today
- Shiba Inu (SHIB) Sagging Values To Get A Boost With New Token Burn Mechanism?
- U.S. Fed Releases New Whitepaper for CBDC Digital Dollar, Kickstarts Debate
- Crypto Market Flash Crash: Bitcoin (BTC) Down 8%, Ethereum (ETH) And Altcoins Follow
- Breaking: Twitter Integrates NFT Profile Pictures and Crypto Wallets On IOS
- El Salvador wants to give small businesses access to Bitcoin-backed loans
- Meta and Instagram To Allow Users To Create, Display And Sell NFTs
- Solana Creeps Higher, Looks To Revisit January Highs AT $177.0
- Ethereum Price Analysis: Fibonacci Retracement level 0.618 Triggers Recovery Rally In ETH Coin
- BTC Price Analysis: Death Crossover Brings Nightmares On Satoshi Street; Is This A Buying Opportunity?
- Bitcoin Death Cross Haunting Investors, Will BTC Make or Break?
- DOGE Price Analysis: Highly Influential Bearish Trendline Undermines Bullish Attempts; Buy, Sell Or Hold?
- Terra Price Analysis: Will LUNA Price Bounce Back at 0.382 Fibonacci Retracement?
- SAND Price Analysis: Sandbox Price Losses 50% Retracement Level, Good Time to Buy?
- LINK Price Analysis: Chainlink price reclaims 200-day EMA, Emerging trendline Suggests More Upward Price Movement
- Harmony Price Analysis: Rising Parallel Pattern Could Lead 30% Growth In $ONE Price
- Ripple Price Analysis: XRP Bears Struggle To Breach $0.7 Support Zone, Is A Reversal Next Move?