Cardano recently celebrated the third anniversary of the Mainnet launch. Prior to the event, Cointelegraph had the opportunity to discuss future plans for the project with the new CEO of the Cardano Foundation, Frederick Gregard.
Gregard, who has yet to formally take over as CEO, has assured us that he will take up his new position sometime before November 1, although the exact date is not yet known. He is currently completing his tenure at PwC where he will lead digital financial services across the global network. Gregaard believes that there is a natural sense of bias towards open source generic blockchains, which he describes as a “trust gap.”
Although the entire cryptocurrency field is barely 10 years old, many well-known companies have been around for decades, if not centuries. They may have business plans that span longer time horizons than businesses like Cardano. In addition, it is no secret that the lifespan of a crypto project is shrinking. This is compounded by numerous cryptocurrency scams and illegal communications (often backed up by the media) that have created an inappropriate reputation for too much space in the eyes of business users. If a large company decides to rely on blockchain for one of its main use cases, it must ensure that the chosen protocol continues to receive appropriate service for the foreseeable future. Lack of confidence in this promise has led to what Gregarde describes as a “trust gap,” and one of his primary concerns will be to make this gap a thing of the past:
“When you have such an open project to give confidence to big companies like we will be in the next ten to twenty or thirty years. So you can also rely on us for the long term to keep us healthy in terms of finances, teams and people. ”
While Cardano has been criticized for chronic delays in development (like his older brother, Ethereum), this year may be different. Earlier this year, the platform underwent a major network update known as Shelley, which led to the creation of storage and clustering. However, according to Charles Hoskesson, two major updates are expected this year – Goguen, which will add smart contracts, and Voltaire, which will introduce decentralized governance. With that in mind, we asked Gregard which industries he sees the prospect of Cardano adoption in.
He said that even with the current events at Cardano, it could be used to address a number of existing problems in what he called “complementary financial services”:
“Complementary financial services – including treasury, insurance, etc. I see a lot of use cases that we can really tackle right now.”
Gregard also believes COVID-19 has accelerated digital adoption. “In six months, we’ve provided consumers around the world, including businesses, with five to six years of digital adoption,” he said. However, he also identified some shortcomings in the healthcare system:
“And I think one of the big problems we face today is that most countries, as they say, trust each other. Most hospitals and institutions say it’s as if we are all on the same wavelength, but when it comes to real life. When it comes to life and death and security in your country, the stakes are high, right? ”
In his opinion, Cardano can be used for a number of purposes in this area, for example, to track the origin of drugs or to record patient vaccinations. Although he admits that this is a highly regulated industry and not a dangling fruit. However, it is important for Cardano to gain traction in these large and well-established industries if he truly intends to continue in the coming decades.