Could This New Partnership With Blockchain Venture Studio Be The Catalyst That Sparks A Resurgence Of ADA?

Cardano (ADA) Remains Bullish And Overtakes Bitcoin SV As Market Sees Slight Price Slip
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Charles Hoskinson, the founder of Cardano seems to be a busy bee in the cryptosphere lately. Just a few days ago, he announced that Cardano version 1.6 would be going live in a few days. Now yesterday, Cardano Foundation broke the news of a major partnership with blockchain venture studio based in Berlin, Germany, Konfidio to foster widespread adoption of Cardano.

The Dream Team

In a tweet, Cardano foundation stated:

“The Cardano Foundation and @konfidio a Berlin-based blockchain venture studio, have entered into a strategic partnership to enable real-world business use cases on the #Cardano #blockchain with corporations, SMESs and government.”

The tweet also provides a direct link to a blog post giving further details about this partnership. As per this publication:

“This is the first such alliance for the Zug-headquartered Foundation, one of the world’s leading not-for-profit blockchain organizations and is in line with the mission to create and unlock value by driving the adoption of the Cardano blockchain.”

Konfidio is a company builder and enterprise accelerator that utilizes the blockchain technology to build decentralized applications (DApps) that are enterprise scale. In the initial stages, this partnership will laser in on use cases in four major sectors: banking, pharmaceutical industries, logistics, and trade finance. Later on, the partnership will incorporate use cases in the government and public services.

Nathan Keiser, the chairperson of the Cardano Foundation mentioned that the location of Konfidio gives this collaboration an edge, referring to Berlin as a “global blockchain center”. He also said that the partnership will help the Cardano Foundation gain traction in Europe and Germany.

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Konfidio’s founder and CEO Dr. Mervyn G. Maistry expounded on the role of Konfidio in this collaboration saying:

“Our aim is to increase the understanding of the protocol in both corporate and startup environments and accelerate value-add for both Cardano, the blockchain community and our clients.”

What Does This Partnership Mean For ADA Prices?

This grand partnership is envisioned to boost the prices of ADA and the effects could be evident in the next coming days. Meanwhile, ADA continues to display a lackluster performance.

On Thursday, ADA showed a few signs of a price recovery before succumbing to the market pressure engulfing the overall crypto market. ADA has since dropped from $0.0472 to $0.045277 at press time, with 2.44 percent losses within the last 24 hours. The short-term bias looks bearish for the 13th largest cryptocurrency but this partnership could be ADA’s silver bullet.

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