Cardano partners with DISH, an American Telecom Service network as the IOHK founder Charles Hoskinson announced during the ongoing Cardano Summit 2021 so let’s find out more about the partnership in today’s Cardano ADA news.
The strategic partnership aims to introduce Cardano’s blockchain technology to the DISH telecom services that will likely boost Cardano’s adoption and benefit the DISH users with 8 million digital identities on phone satellite. Speaking during the Cardano Summit 2021, Hoskinson said that the main idea was to create a network where the users can move easily from one space to another and the underlying busienss infrastructure to remain “ossified.” Hoskinson noted:
“We think there’s a lot of intersection between the use of identity the movement of data capacity exchange and other things that can be done and explored.
And it can be done at a scale of millions to tens of millions, and eventually at a global scale. So, this is a super exciting relationship we can’t wait to see how it goes.”
The IOHK founder added that he hopes the partnership will transform the model of the Telecom industries worldwide despite the many challenges of implementing blockchain technology into the field. As per Hoskinson, Cardano partners with DISH so that its users will have network connectivity with Cardano with no influence from centralized corporations. If it becomes successful, it can turn into a default business model for the telecom space. DISH is one of the biggest Telecom services with more than 19 million customers that gives users full control over their users’ accounts. The company is also among the first companies to accept crypto payments and it is listed as a fortune-500 company.
This is one of the few positive news that is pushing ADA’s price to higher levels despite the bearishness around the recycled Chinese FUD. Cardano was the only exception over the week that remained in the green while the market was in the red. ADA is trading at $2.32 with a market cap of $75.5 billion as per CoinGecko and now ADA is the third biggest crypto right after BTC and ETH.
Cardano now has smart contracts capabilities to further bolsters its ecosystem because as of now, it saw an important hard fork finally go through and Alonzo is live on the mainnet. What this means is that the network will support smart contracts and will enable various teams and projects to start building and deploying their protocols on Cardano.
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