By 2026, at least three Fortune 500 companies will be using Cardano cryptocurrency (ADA) and the Cardano Foundation will partner with 50 banks. Frederic Gregaard, head of the non-profit organisation, said.
We are very happy to share the Cardano Foundation's strategy delivered by our CEO, @F_Gregaard. Watch below to hear about our short & long term goals, strategy & implementation and more!
According to Gregaard's presentation, his organisation has made progress on many fronts as part of its short-term development strategy. In particular, the Cardano Foundation is actively working on creating a centralised data registry for the Cardano Registry's native token data and launching services for developers.
According to the head of the organisation, by 2022 the Cardano Foundation will sign partnership agreements with 50 banks, add support for more than three new blockchain libraries, launch developer services, improve the platform's interpretability, and improve the voting mechanism of decentralised fund Project Catalyst.
Gregaard noted that the Cardano Foundation intends to arrange for at least three Fortune 500 companies to purchase ADA tokens by 2024. The organisation also plans to see an increase in onchain activity and wallet growth.
To this end, the project team will publish three white papers and several studies on the practical use of the blockchain platform.
By 2026, the Cardano Foundation plans to grow the user base of the platform ecosystem to 1 billion. By then, the project will move into the Voltaire era and will be fully community-managed as a decentralised organisation.
Cardano cryptocurrency is currently ranked fifth by CoinGecko with a market capitalisation of $45.33bn. ADA's price has fallen 1.7% in the last 24 hours. At the time of writing, the figure stands at $1.41.
The Cardano Foundation has ambitious plans, but critics often ridicule the organisation for failing to achieve its goals.
On July 5, Chris Berniske, a partner at Placeholder Venture Capital, retweeted a post last year by Cardano creator Charles Hoskinson in which he gave an optimistic outlook on the blockchain platform. Berniske accompanied the post with the comment, "Has any of this happened?"
This time next year I predict there will be hundreds of assets running on Cardano, thousands of DApps, tons of interesting projects and lots of unique use and utility. 2021 is going to be so much fun watching Cardano grow and evolve. The community is definitely ready to innovate
Earlier, digital asset manager Grayscale Investments included Cardano as a component of the Digital Large Cap Fund.
Recall that in May, billionaire Mark Cuban criticised Hoskinson's project for its lack of practical utility and taking too long to prepare for the final release.