Cardano (ADA) Foundation Inks Partnership Deal with Konfidio Ventures

The Cardano Foundation, an organization responsible for driving adoption of Cardano (ADA), has joined forces with Konfidio, a Berlin-based blockchain venture studio, to promote the adoption of distributed ledger technology (DLT) by governments, large corporations and startups alike, according to a press release on August 15, 2019.

Cardano Fostering Blockchain Adoption

In a bid to create and unlock value that would boost Cardano (ADA) adoption and make it easier for Germany-based corporations, startups, and even government parastatals to integrate blockchain technology into their processes, the Cardano Foundation has partnered with Konfidio Ventures. 

As stated in its press release, the primary objective of the partnership is to enable real-world use cases of the Cardano network in a vast array of sectors, including financial services, logistics and supply chain, banking, pharmaceuticals and more.

The team hopes to test the technology model developed through the partnership on startups, Mittelstand companies — small and medium enterprises (SMEs) creating over 60 percent employment for German residents, multinational companies and more.

Promoting Cardano 

Founded in 2016 in crypto-friendly Zug, Switzerland, by Charles Hoskinson and Michael Parsons, the Cardano Foundation is one of the three organizations contributing to the development of Cardano.

The Foundation’s responsibilities include facilitating strategic partnerships, ensuring accountability of stakeholders, formulating legislation and commercial standards and ultimately promoting adoption of Cardano (ADA).

Commenting on the new alliance with Konfidio, Nahan Kaiser, Chairman of the Cardano Foundation reiterated that the partnership represents another significant achievement for Cardano as it takes the project a step forward towards attaining mainstream adoption.

In his words:

“Our strategic partnership with Konfidio is yet another huge step towards promoting and advocating Cardano and driving its real-life use cases.” 

Since its launch in 2017 by Dr. Mervyn G. Maistry and Galen Evans, Konfidio Blockchain Studio claims to have provided highly functional end-to-end solutions for a vast array of enterprise clients including Enovos, Bayer, a highly reputed German multinational pharmaceutical company and several others.

“Konfidio’s strategy is based on global decentralized platforms unlocking value across the global economy,” said Dr. Mervyn G. Maistry, founder and CEO of Konfidio.

Maistry also noted that Konfidio has researched all the “Turing-complete” blockchain networks and it strongly believes Cardano’s third-generation blockchain platform has all it takes to ensure stability and business continuity of real-life business models.

In related news, earlier in May 2019, BTCManager informed that Input Output Hong Kong (IOHK), one of the organizations behind Cardano is looking to launch the world’s first security token blockchain in collaboration with Polymath.