Market NewsOctober 5, 2020 by Kelly Cromley

Cardano Blockchain is Involved in Over 90 Ventures and has CBDC Enquiries from Africa

Cardano blockchain founder Charles Hoskinson discussed several subjects, including advancements and plans for the Cardano blockchain in the recent AMA (ask me anything) session.

The CEO of IOHK disclosed that there will be 2-3 updates this month, ranging from “node, to Daedalus, to other things.”

At this time, there is a lot of work being done to speed up the Daedalus wallet. Several updates are being worked out simultaneously, Hoskinson revealed.

Notably, several features are being added in Daedalus, including “identity center”, “voting center”, “QR center” and a “paper wallet center.” IOHK pays external firms to develop individual packages and then use the code to integrate with Daedalus.

Hoskinson further detailed that it would take a lot of time if the core team of Daedalur starts coding all features on without any third party’s assistance. With such a plan in place, the “voting center” will be made available until find #3 of DC Fund.

The “identity center”, on the contrary, should available for use soon because it is “very powerful” and permits features such as “authenticated addresses” and multi-sig.

With respect to Goguen, Hoskinson stated that IOHK has decided to avoid publishing a schedule as initially planned and informed in the update last month. The reason is the management tool that predicts the completion dates require testing for another one or two week to assess its precision.

Surprise AMA 10/03/2020 https://t.co/tPCrzdJTNr

— Charles Hoskinson (@IOHK_Charles) October 3, 2020

Overall, Hoskinson was impressed with the strides made by Goguen and also pointed out that successful completion is the main pbjective. Regardless of some reports, Goguen will not face any postponement, but requires work to fine tune the forecast accuracy.

Eventually, Hoskinson is determined to take necessary efforts to guarantee the competitiveness of Cardano in the DeFi and dAp market next year:

“And again, with the Daedalus work stream where we paralyze things, we gonna do the exact same thing with the Plutus and Marlow. And we will start outsourcing components that don’t have to be done by the core team. And they can be done in parallel. […] So if it is simply an issue of more cost and there’s labour available, we will always accelerate that. Because I want to get to the business building applications. I’m really excited about the DeFi space, really excited about dapps and tired of saying let’s wait a little longer.”

The Cardano advocates were also glad to know that IOHK currently has more than 90 associates partnering in various ventures. Hoskinson tweeted about the projects as follows:

“Just a clarifying comment. I didn’t say 90 coins want to move over, I said that the commercial team has 90 potential deals in the pipeline. This said, erc20 converter should easily push things in this direction”

Hoskinson’s revelation regarding Cardano’s involvement in central bank digital currencies (CBDC) could be exciting for many investors. As per the CEO of IOHK, central banks in Central Africa have already got in touch with him and asked him to something about it.

“I would like Cardano to be a replacement for the bank international settlement and all the non-BIS banks to come use us as the connecting tissue. We have some strategies on CBDCs, we are thinking about them for a while and we have a lot of banks in Central Africa that approached us, saying ‘hey, let’s do something’. And actually I think it would be really cool to connect CBDC concepts, not just with, okay we can tokenize something, but with the UBI concept as well, so by using the currency, the transactions fees accumulate in the wealth fund and you distribute dividends to society because it’s the currency of the country, it should generate wealth for the country. So we actually pitched that.”