Value of Cardano (ADA) has risen with the announcements from their summit on yesterday’s first day news.
This was also bucking the downward trend in crypto currency values. Partly I believe due to the announcement earlier this month in regards to the launch of their smart contracts and also due to the hype for the summit and in anticipation of value adding news from it.
5 Best Takeaways From The Cardano Summit Day 1
In his speech Hoskinson said that “People are fundamentally unhappy with governance” and “There’s an appetite for new systems, new ways of governance, new types of institution”.
Cardano is trying to position itself as a legitimate option to provide systems and solutions for the possibility of a nation-state running on their infrastructure in the future.
Making Cardano Greener
Cardano has also announced the planting of a million new trees to help reduce global impact and climate change in conjunction with veritree. This includes the launch of The First Global Cardano Impact challenge, where the global community is invited to make donations through ADA with the end goal being the planting of the first #Cardano Forrest. As Cardano already has a smaller footprint than a lot of other large crypto currency this will further help to cement its place as one of the least impactful crypto currencies available today.
Cardano improves Decentralised Finance (DeFi)
Cardano announces a partnership with UBX to make a bigger move into the decentralisation of finance (DeFi).
This partnership will also mean that stakers in UBX will be able to earn rewards on their ADA for helping to secure and operate the cardano blockchain.
John Januszczak, President and CEO of UBX said, “To further excel and maximize the potential of blockchain, we’re looking at emerging protocols like Cardano to connect traditional financial markets to the world’s most innovative financial operating system.”
This has got to be great news in the longer term for Cardano.
Improving Identity Management
Cardano have now also confirmed support for AID:tech which provides identity solutions for payments, insurance and finance through blockchain. This allows a great asset in the fight to be able to provide verifiable proof of ownership and identity going forwards. This should allow larger volumes and quicker processing of payments and delivery of items going forwards with the ease of confirmation at both ends.
Esports Partnership with Cardano
Cardano announces working with ESports platform owners Rival to help allow further expansion and opportunities in the gaming and sports industry. This partnership will not only see Cardano put in place a platform to create and distribute NFT’s but also ro enable the redemption of these NFT’s for physical goods. It will also allow for marketplace royalties within Rival’s roster which includes Aston villa and Watford football teams and The Seattle Seahawks from the NFL. The CEO of Rival Matt Virtue stated that “Our partnership with Cardano marks Rival’s entry into blockchain and is a significant step in our evolution as an enterprise platform solution to unlock the unlimited potential in gaming and esports. Rival’s integration with Cardano will help us maximize and personalize the entire Rival experience – for both gamers and partners.”
With all this great news coming from the summit you can see why Cardano (ADA) has had a boost in value over the last trading period and with a day 2 coming up who knows were it goes next.
Stay tuned for further updates as they become available.