Cryptocurrency

Here’s a Sneak Peek Into What Cardano’s Future Plans Look Like

In a comprehensive information sharing session about the company’s plan on upcoming products and services, Charles Hoskinson gave a detailed peek into what the leading cryptocurrency and blockchain platform is aiming to achieve in the future. It was a freewheeling expression as the founder of Cardano uninhibitedly talked about the vision of financial freedom and accessibility that the company wants to bring to the world through its efforts.

Platforms and Ecosystem

In order to make the Cardano platform more holistic and complete in services and ecosystem, the Cardano foundation (based in Switzerland) is making the best use of research from the academia and implementing it to produce more secure, scalable, and easy to customize applications for the users. The procedural intricacies are complex and Hoskinson described at length how the company’s professionals are involved in integrating the data from the various silos and segments to present a holistic picture for the clients. While lauding the efforts of the executives, Hoskinson also lamented how the festivities in the month of December and January took their toll on the productivity of the organization. He acknowledged the fact that most of the employees in these two months kept busy with their personal schedule that, in turn, had a negative impact on their efficiency.

Product Marketing Campaigns

Highlighting the importance of the product marketing campaigns that the company is going to undertake for its new commercial launches in the market place, Hoskinson stated that they have roped PwC owing to its expertise in handling such business assignments. The company will be simultaneously working on the product and marketing strategy in order to make stakeholders aware of its product innovation prowess.

Stressing on the importance of shifting the focus from the science behind the technology to make it easy for common man’s understanding, Hoskinson expressed happiness that more and more research papers from academia are showing interest in the technology. This signals the shift in the focus of the research, which is now emphasizing the importance of making the products/services easily usable and accessible.

The contribution of the other industry players had also been lauded by the Hoskinson, but at the same time, he also identified the issue of the piecemeal approach that continued to remain the mainstay of the cryptocurrency and blockchain industry for long. The focus of the Cardano foundation, Hoskinson said, is to take the knowledge out from the academics and redistribute it in the manner that it made sense for businesses and institutional investors.

Listing on Exchanges

The efforts of the company in order to get the Cardano listed on various exchanges were also being highlighted by Hoskinson in his information sharing session. The company is in talks with a number of cryptocurrency exchanges across the globe and efforts are on in order to provide wide access to its cryptocurrency while minimizing the cost structure associated with its transactions.

As there are several issues that need to be sorted out before the listing happens on any particular exchange, the company is taking its own time to comprehensively address all the concerns of exchanges before going ahead with the listing exercise. Also, Hoskinson went to a great length to make the viewers aware of the difference between Haskell and Plutus products while emphasizing that the performance expectations should not be the same for these products as these are underpinned by these two different languages.

Cardano improvement proposal (CIP)

Hoskinson also gave a detailed account of the efforts that are currently underway on the Cardano improvement proposal (CIP) process front. A couple of teams are already working on the project in close coordination with the Cardano Foundation and the work is expected to be completed in a reasonable time. Stressing that the current focus of the research is on the strategic issues of how to go ahead with the basic foundational challenges in the cryptocurrency space, Hoskinson said that they were building on the large corpus of research and knowledge to address some of the basic challenges in the crypto space. Wrapping up the information sharing session, Hoskinson told the viewers that he and his team would continue to share information on the ITN wallet project of the company on a regular basis in addition to apprising stakeholders in the public domain about various other activities of the company.

Conclusion

The information-sharing session was a really nice attempt from the Cardano as it gave a detailed account of information on the various activities and operations that were currently underway in the company. It is sure to send a positive signal among all the relevant stakeholders and this democratization of the information will help the foundation to go a long way in strengthening the faith of prospective investors in the company and its products.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
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