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.

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.

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).

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