Questions and Concerns About Cardano (ADA)

Yes, I am fully aware that today is Tuesday. I'm sure many of you were wondering where my typical Monday blog has been! Well, this past weekend had been one for the books. I graduated from the University of Louisville on Saturday (Woohoo!).

My accomplishments are within the fields of Finance, Computer Information Systems, and Entrepreneurship. To celebrate, I am going to California tomorrow to see a good friend of mine. It'll be double the celebration because of my graduation, AND my friend had just gotten engaged! Good vibes all around recently.

Enough insight into my life, I talked with a close friend the other week about cryptocurrency and investments within the industry. A topic of conversation was about Cardano and its potential as a cryptocurrency. I bookmarked this cryptocurrency because it needs a blog post. In this blog, I will be discussing the basics of Cardano and its potential.

---Disclaimer: I am not giving investment advice, I am only making you aware of the recent news regarding cryptocurrency so you can better understand the coin, technology, and the overall effect cryptocurrencies are currently having in the world we live in.---

I'll try to keep this short, sweet, and to the point, because I still need to pack!

Question: "What is Cardano?"
Answer: Cardano is the first of its kind bringing together the peer-to-peer transaction protocol (similar to Bitcoin) while combining the use of Smart Contracts (similar to Ethereum). The peer-to-peer transaction protocol is in the exchange of ADA coins. Decentralized Applications (DeApp) is a company that is helping develop the Smart Contracts within Cardano.

One of the significant developers of Ethereum has a hand in developing Cardano. Charles Hoskinson is his name, and he sees Cardano as a crucial cryptocurrency in the generational development in the industry. Cardano is one of the cryptocurrencies in the third generation. To be clear, Bitcoin is the first and Ethereum the second in the cryptocurrency generations.

Cardano has been around since 2015 and recently has seen an increase in value. Cardano is a cryptocurrency large companies salivate over. With companies involved in significant agreements and contracts, Cardano is there to help the process be as smooth as possible.

Question: "What companies or entities are using Cardano currently if any?"
Answer: Well, within the past year (2020-2021), the list has significantly grown. You can correlate the list growth with the value of Cardano's ADA coin increasing. Companies such as IBM Research and New Balance pave the way with Cardano. As for entities (I think this is awesome for the industry), the government's acceptance of Cardano is within South Korea, Ethiopia, and Georgia.

Some may find this surprising, others will roll their eyes, but most cryptocurrency adoptions are within Africa. Similar cryptocurrencies such as Stellar Lumens (XLM) have brought Africa into the technology revolution. Cardano is seizing the opportunity to become a pioneer in this continent, along with Stellar Lumens.

Let us hop back to what Cardano is doing for individual businesses. When you think of New Balance, what is the first thought that crosses your mind? I think of my father; he has New Balance shoes for almost any activity. They are great and comfortable shoes! Once he gets a new pair, the old ones replace the older ones as his new and improved grass-cutting shoes.

Cardano and New Balance are reinventing the idea of authentication with purchasing goods. The authentication project Cardano and New Balance are working on a project known as 'NB Realchain.' NB Realchain is to ensure the authenticity of New Balance products. Remarkably similar to the Supply Chain Management cryptocurrency, VeChain (VET). The NB Realchain is to provide customers that they are receiving 100% authentic New Balance shoes.

Understanding the potential of Cardano is in the examples given above. From four years ago, with Cardano having the price for an ADA coin at roughly $0.02 to now being traded well over a dollar ($1.75), businesses and governments alike are seeing how this third-generation cryptocurrency can help improve authentication and the acceptance of Smart Contracts.

In those four years, Cardano has seen its ADA coin skyrocket 8,650%. Cardano is the only cryptocurrency diving into product authentication and being a front-runner in technology advancement in Africa. Those two movements can be what puts Cardano on a list to watch within the third-generation cryptocurrencies.

Until next time,
Seth Hinkle

Websites used in research:
Batabyal, Anisa. What Is Cardano? 2019 Beginner's Guide on ADA Cryptocurrency, CoinSwitch, 28 July 2018, coinswitch.co/info/cardano/what-is-cardano.

Terenzi, Carlos. “Cardano And New Balance Team Up To Create NB Realchain.” UseTheBitcoin, usethebitcoin.com/cardano-and-new-balance-team-up-to-create-nb-realchain/#:~:text=Cardano%20%28ADA%29%20and%20New%20Balance%20announced%20they%20are,to%20start%20working%20together%20on%20new%20blockchain-based%20solutions.

Wordstock, list3r. “Full List of Cardano (ADA) Partnerships and Collaborations (2020).” Publish0x, Publish0x, 18 May 2020, www.publish0x.com/wordstock/full-list-of-cardano-ada-partnerships-and-collaborations-202-xpgvdj#:~:text=Cardano%20Partnerships%20and%20Collaborations%201%20IBM%20Research%20%28,10%20Z%2FYen%20Group%20%28%20Source%29%20More%20items...%20.

Website where I used Picture:
https://cryptopost.com/cardano-buying-opportunity/