Applications and Use Cases

Cardano Ramps Up Investments in Blockchain Technologies

October 01, 2021

Blockchain technology and cryptocurrencies have seen a rise in popularity as a safe and secure option for financial transactions.

EMURGO, a blockchain technology company servicing developers, businesses & governments and one of the founding entities of Cardano, a public blockchain platform, has now announced a $100M investment to accelerate the development of the Cardano Ecosystem.

Emurgo CEO Ken Kodama said this will include a dedicated operation in 2022 and will focus specifically on DeFi, NFT solutions and blockchain education efforts.

According to reports, adoption of cryptocurrency has grown over 880 percent globally with no signs of slowing.

DeFi (or “decentralized finance”) makes it possible to do the types of things traditional banks typically do such as earn interest, borrow, lend, buy insurance, and more using crypto. This expands Bitcoin into more digital alternatives including an opportunity to increase the open and free financial markets for all.

Much of the adoption increase is related to use of DeFi platforms especially in emerging markets that have less direct access to cryptocurrencies.

With NFT (Non-fungible tokens) content creators, celebrities, artists and more are taking advantage of smart contracts. These tokens represent ownership of items or “tokenize” items and make it possible to sell to a crypto-audience.

As part of this latest announcement, the investment arm also said it will be adding funding into African artificial intelligence, blockchain and smart technologies firm Adanian Labs.

“EMURGO’s investments will help to shape the future of the Cardano ecosystem, a maturing network with a creative and diverse community, growing smart contract capabilities and partnerships across the globe that provide social and financial services utilizing Cardano’s provably-secure technology,” said, Charles Hoskinson, CEO of IOHK.

Edited by Luke Bellos



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