In a recent presentation, Cardano Foundation CEO Frederik Gregaard outlined the short- and long-term goals for the Foundation behind one of the most popular blockchain projects, Cardano (ADA).
As such, one of the most important parts the company will focus on over the next year and a half will be the integration of 50 banks with the “ADA utility token, which allows us to operate in our blockchain.”
If the Foundation achieves this goal, it will allow ADA holders to convert the tokens into various fiat currencies or other currencies using the cryptocurrency blockchain.
Goals for the coming years – through 2024 – include increasing users' on-chain activity and the number of operational portfolios to reduce the need for people to hire third-party services to interact with blockchain projects.
In addition, the Foundation plans to integrate at least three large Fortune 500 organizations into its ecosystem. In addition to intending to introduce them to the benefits of the blockchain, Gregaard said the organization wants them to maintain and use ADA.
Over the next five years, the Foundation plans to have the entire blockchain self-sustaining and community managed, which will coincide with the arrival of the Voltaire era. At this point, Cardano DLT should be adopted by at least one billion users.
Also, the number of Fortune 500 companies that own and use the ADA token must have grown to at least ten by 2026.
To achieve its ambitious goals, the Foundation has put in place a two-tier plan that includes increasing demand for the blockchain and the currency, while providing an “excellent and decentralized” product.