Nothing should be taken as financial or investment advice. Enjoy the ride.
In late June, the Cardano Foundation decided to join onto the board of the Global Digital Finance Group, GDF. The GDF is a London based organization that has partnered with many of the industry leaders. The focus for this group is to maintain and pursue overarching principals that establish best practices among the digital asset industry.
GDF is an industry membership body that promotes the adoption of best practices for cryptoassets and digital finance technologies, through the development of conduct standards, in a shared engagement forum with market participants, policymakers and regulators.– GDF website
More specifically, the organization is comprised of several other notable patron members per the website:
- Circle – Crypto finance company for institutions and retailers
- ConsenSys – Global blockchain technology company building the infrastructure and applications to solve real world problems on the Ethereum blockchain
- Diginex – Drives institutional investments through customized solutions
- DLA Piper – Global law firm focusing on digital asset, security based regulation, and data protection
- Hogan Lovells – International law firm co-headquartered in London and Washington, D.C
- Huobi – Global crypto exchange
- R3 – Enterprise based blockchain software firm which focuses on development and longevity
Many of these companies are constantly in the news pushing out products, building relationships, and furthering the impact of decentralized society. The most notable adviser to the GDF group on the website is non other than Coinbase, one of the largest fiat to crypto pairing providers.
Cardano Foundation Focus
Clearly, the Cardano Foundation has one thing on mind and that’s community and global development. Joining these groups tells the world the purpose and continued focus of the Cardano eco-system, to build a well established blockchain with the best intentions.
In other news, the foundation also joined the International Association of Trusted Blockchain Applications’s (INATBA) five working groups to help shape blockchain and crypto legislation and commercial standards . By joining this community, the foundation provides DLT and similar developers a forum to ask questions, develop relationships, and build trust among the community.
INATBA offers developers and users of DLT a global forum to interact with regulators and policymakers that will contribute to the convergence of regulatory approaches to blockchain and other DLT globally which brings blockchain technology to the next stage.– Cardano Foundation Website
Cardano Token Developments
Recently, the Cardano token (ADA) was also added to Kucoin which will increase exposure and liquidity. Traditionally, when any asset is added to Kucoin they will launch a competition, so be on the look out for any competitions where you can potentially win free money, tokens, or prizes.
Personally, after logging onto Kucoin for the first time in around a year, I was surprised to see so many updates. The platform looks clean and very functional now. Kucoin could potentially serve as a great replacement to the Binance move coming in September for all those altcoins in your wallet. Although, there is still no great replacement on the market in terms of volume and fees.
ADA Market Performance
Overall, ADA is currently preforming poorly in the market, but this was expected with the price retracement of Bitcoin. If ADA can surge through the psychological levels of $0.10 then we could be looking at a nice bull run for Cardano which is much needed for investors. The upcoming Shelly test net should serve to calm investor nerves regardless of price action for the time being. As long as development continues and the mission stays the same, most people will be just fine hodling this coin into the foreseeable future.