The Cardano Foundation (ADA) CEO, Frederik Gregaard, offered details about the project's goals over the next five years.
Some of the goals presented involve project integrations with banks and partnerships with large companies.
Cardano's native cryptocurrency, ADA, has stood out in the cryptocurrency market in recent months.
The Cardano Foundation CEO, Frederik Gregaard, provided details about the project's goals over the next five years. In a live broadcast on Monday, July 5, on Cardano's YouTube channel, Gregaard detailed the short- and medium-term plans that the team responsible for the ADA token intends to complete. Some of these goals involve blockchain integrations with banks and partnerships with large enterprises around the world.
Cardano network integration with fifty banks
During the presentation, Gregaard stressed the importance of large institutions adopting the project. One of the Cardano Foundation's primary goals by the end of 2022 will integrate 50 banks with the blockchain and the network's native token, the ADA.
The integration implies that cryptocurrency holders will convert their ADA units to fiat currencies used by these banks. Or even to other cryptocurrencies, using only the Cardano blockchain to perform these operations.
In addition, the CEO stressed that his team intends by 2024 to increase the number of operational wallets and on-chain activities of the network's users. According to Gregaard, this will reduce the use of outsourced services so that there can be an integration of projects carried out on the Cardano blockchain.
Partnerships with Fortune 500 companies
Gregaard also shared plans to integrate at least three Fortune 500 companies, a list of the world's top 500 corporations by revenue, into the Cardano ecosystem by 2024.
He believes that these large companies can, in addition to utilizing the benefits of their blockchain, adopt and use the ADA token. The executive was so confident that this is possible that he said the goal would be to have at least ten corporations partnering with the project by the end of 2026.
Finally, he stressed that the Cardano Foundation aims to make available a fully autonomous blockchain managed by its community, with at least one billion users in the next five years.
Cardano price evolution
Cardano's native cryptocurrency, ADA, moved the cryptocurrency market in recent months. Mainly due to partnerships and updates prepared for the blockchain. According to data from Coinpaprika, the cryptocurrency is up over 1,300% in the last 12 months.
Cardano ADA remains uptrend as long as its price stays above $1.10. The cryptocurrency has been showing reasonable valuations in recent days, rising more than 20% in the past two weeks. At the end of this story, ADA was trading around $1.40.