According to a statement shared yesterday by Frederik Gregaard, CEO of the Cardano Foundation, the foundation behind the development of the blockchain of the same name and the ADA cryptocurrency, the long-term goal for the company would be to have at least 10 Fortune 500 companies holding ADA by 2026.
In addition to these, according to Gregaard, 50 banks will also come to hold ADA by 2022.
Gregaard, CEO of the Cardano Foundation since September 2020, held a YouTube stream in which he presented the project’s roadmap for the coming years.
This would lead to ADA being used daily for financial transactions, becoming one of the competitors of Ripple and Stellar Lumens. To do this, Cardano is planning to increase the interoperability of its blockchain and work more in the DeFi space, making this area of decentralized finance a regulated space like banking services.
These are the words of the CEO of the Cardano Foundation:
“The other part about focusing on the banks- will allow us downstream, to push one of the most recollected industries but also one of the industries most right for a change. So basically, get their eyes open for what they can do long-term using smart contracts and other features using Cardano protocol.”
Looking at shorter term goals, the team also wants to create a blockchain explorer to make it more transparent and publish three new whitepapers to educate developers and create more onchain applications.
To do all this, Cardano will also be hiring new staff over the next 12-18 months.
The latest news on Cardano (ADA)
In late June, Cardano announced a partnership with Orion to create a “one-stop-shop” trading platform, a single decentralized platform that aggregates all cryptocurrency exchanges currently on the market.
In addition, in early June, Cardano had also announced a collaboration with Nervos to become more interoperable with different blockchains.