Cardano Foundation announced on Thursday that it had joined the London based organization, Global Digital Finance (GDF). The move will allow Cardano to contribute towards building global governance and standardizing crypto policies.
The Cardano Foundation – in line with its goals to help shape governance and standardization policies – joins Global Digital Finance (GDF), an industry membership body. The Foundation has completed GDF’s thorough assessment before joining. Read here: https://t.co/DdSyflVGOz
— Cardano Foundation (@CardanoStiftung) July 5, 2019
In the official blog on the website, Cardano’s global PR Communications and Marketing Director, Bakyt Azimkanov stated that the organization went through a rigorous assessment process by GDF before being selected as a member of the industry membership body.
The collaboration between the Cardano Foundation and GDF will strengthen ongoing efforts to create best practices and sound governance policies. Effective policies will help the crypto asset market further develop through establishing robust codes of conduct for the sector amid increasing importance of ethics in the blockchain and DLT industry.
Cardano Foundation and its native token Cardano (ADA) was created by former Ethereum co-founder Charles Hoskinson, who has been quite vocal about the irregularities in the blockchain industry. A couple of months ago, he severely criticized Ethereum and EOS for not being truly decentralized. Hoskinson recently revealed the expansion plans for the platform and stated that it could even beat Facebook in terms of reach in emerging markets.
Azimkanov further added,
The Cardano Foundation became a member of a number of GDF working groups—Custody, KYC/AML/CTF, Stablecoin, Security Token, Market Integrity, and Tax Treatments—thus, contributing to the improvement of market and conduct standards for the crypto asset and digital finance participants.