In Brief:
- Cardano announced significant partnership with Veritree to fight Climate change.
- The layer-one blockchain also struck deals with Chainlink and Dish Network.
- Cardano collaborates with Oasis Pro Markets and expands its presence in the developing countries.
Cardano Summit 2021, a two-day live and virtual event has come to an end. The summit saw several new announcements of exciting partnerships. The event was attended by a lot of famous crypto personalities including Cardano founder Charles Hoskinson.
The Cardano Summit 2021 was dubbed as “The Biggest Blockchain Event Ever,” and the most notable announcement of new partnerships has been made at the event. These partnerships will help Cardano to gain more adoption and use. The event takes place in London, Miami, Cape Town, Berlin, Wyoming, and New York.
Delegates attending virtually were able to use the latest technology, which incorporates social, video, and interactive features. Events at the summit were split into worlds they fall in, either Cardano World, Utility, impact, Governance, Adoption, Catalyst, and Community.
Speaking on these recent partnerships, the founder of Cardano explained, “We have to do a lot of science, a lot of innovation, and a lot of engineering.”
Cardano Partnered With Veritree to fight Climate change
Cardano is already known as a “green” blockchain due to its relatively low energy consumption. It has taken another step by partnering with Veritree and announced Cardano’s first Global Impact Challenge.
The Cardano Foundation is leveraging the expertise of the Climate Neutral Cardano Group stake pools. This is an exclusive partnership with Veritree to restore our planet through transparent, immutable, and auditable reforestation data.
Every ada donated to Veritree equals one tree planted. Retail donors pledging at least 15 ada will receive a Veritree token in return. During redeeming moments coinciding with the actual planting over the next six months, these Veritree tokens can be swapped with NFT tree planting certificates featuring the mentioned planting details.
Veritree is a subsidiary of TenTree, which makes sustainable apparel by planting ten trees for each clothing item sold. Using Veritree, the company aims to track its tree-planting efforts around the world. The main goal is to support worldwide restoration initiatives for tree planting organizations.
Cardano Partnered with Dish to bring telecom industry and blockchain space together
The most significant partnership of Cardano Summit 2021 is with a Fortune 250 company, Dish Network. With over 19 million consumers, Dish is one of the significant Telecom providers, giving users complete control over their accounts.
The Cardano Foundation and Dish will collaborate to provide digital identities (DIDs) on phones to 8 million Dish customers. The Dish Network is one of the first public companies to use blockchain technology. Partnerships like these have the potential to change the entire telecom industry model. With the difficulties of implementing blockchain, Dish users will be able to connect to the Cardano network.
In addition to these partnerships, Cardano has also partnered with Chainlink. With the Chainlink partnership, Cardano wants to help their developers to build smart contracts for secure DeFi applications.
NFT marketplace Rival joins the long list of new partners of the network to enable the creation and distribution of NFTs. As well as allowing NFTs to be redeemed in exchange for physical goods and distributing marketplace-based royalties. This will help improve the experience of users when minting and using NFTs on the Cardano ecosystem.
Another partnership with UBX, a UnionBank fintech venture studio, brings public stake pools to the public. This will allow users to earn rewards for staking their ADA tokens to help maintain and secure the blockchain.
Furthermore, a partnership with AID:tech brings decentralized finance identity solutions to the blockchain. Using AID:tech, users can easily verify ownership, allowing a large number of transactions to be processed in a short time.
One such is Cardano’s partnership with Oasis ProMarket; the first-ever United States regulated multi-asset Alternative Trading System (ATS).
On Day 2 of the Summit, Pat Lavecchia, the CEO of Oasis Pro, took to the stage to talk about the latest partnership. The main aim is to eliminate the need for intermediaries such as banks from the process; trading fees will be cut by half.
Cardano injecting $6m to support Africa Pioneers
A new fund in Africa is investing $6m to finance the most innovative blockchain projects on the continent. The fund was generated in recognition of the unique opportunities for innovation in Africa.
The fund mainly focuses on blockchain technology, so African governments and businesses have fewer obstacles to adopting next-generation technology. IOHK will ensure successful projects benefit from teaching, financing, and sustained support in partnership with the fund. IOHK works across the continent, providing education and innovation in formal programming techniques.
John O’Conner, director of African operations, said: “ Working with business in Africa, I have encountered the most inspirational entrepreneurial spirit. At Input-Output we believe in democratizing opportunity, which means giving equal access to funding to realize these innovative ideas, solving problems across the world. This investment project marks a milestone in Input Output’s African development, enabling young ideas to flourish and capitalize on the opportunities provided by blockchain.”
Cardano also announced ‘lightwallet’, which will enable users to interact with Cardano without internet access. The wallet will be the first ever blockchain wallet able to carry out transactions, hold NFTs, make purchases and more all in one mobile application.
