Frederik Gregaard, CEO of Cardano Foundation, has unveiled a strategic plan aimed at accomplishing various missions. The strategy, according to the online presentation, aims to ensure Cardano’s success while facilitating its global adoption.

Short and long-term ambitions

In the short term, the Cardano Foundation aims to enable 50 banks to use its native digital asset (ADA). These banks will allow users to swap their ADAs for various fiat currencies using the platform’s blockchain.

Another short-term goal is the reduction of third-party intervention when connecting to other blockchain projects. This can be achieved, Fred believes, once Cardano increases the activity of its users on the blockchain as well as the number of active wallets.

In addition, Cardano plans to collaborate with at least three Fortune 500 companies, which will be able to experience the long-term possibilities of a blockchain network. More importantly, the foundation looks forward to these companies owning and using ADA. It is expected that by 2026, a dozen Fortune 500 companies will be trading or holding the ADA token. Additionally, the CEO says the project also hopes to publish three white papers and five practical case studies.

A decentralisation perspective

The announcement further discussed its move towards decentralisation, revealing that Cardano will be a autonomous blockchain. Which in the next five years, the Cardano community will essentially run and manage the third generation of the blockchain. According to Cardano, once the decentralised implementation is up and running, the PoS blockchain is expected to have around one billion users. Funding for the community era will be provided by the treasury system, which generates funds from a portion of the transaction fees. In turn, the funds will be used to respond to all user-voted proposals.

More team members

The Cardano protocol has an impressive team of experienced personnel who are committed in helping Cardano succeed every step of the way. Moreover as part of the 2021 strategic plan, Cardano says it is looking to expand its team by adding an advisory board, board members, an executive team, and a departmental body in the next 12 to 18 months.  Security experts will also be recruited as Cardano plans to launch a bug bounty programme.

By Ayoub Khirane