Cardano [ADA] The Financial System for the Developing World – Team Met with Google Today

Cardano [ADA]

Cardano [ADA], the 7th largest cryptocurrency by market cap, is looking far-beyond becoming just a payment system for the regular cryptocurrency investor. Charles Hoskinson, CEO of Cardano and co-founder of IOHK, had an interview with Rachel McIntosh back in February discussing his long-term vision for Cardano.

Financial System of the Developing World – Cardano vs. Stellar [XLM]

In his interview, Hoskinson discusses how Bitcoin advertises itself as a payment system and a means of exchange, but anyone that has tried using it for that knows how much it has failed. Back in February Charles said:

“To be frank, within 6 months or a year, we will be pound-for-pound better than Ethereum and Bitcoin in every dimension and aspect, just based on how our roadmap is rolling out.”

Cardano’s CEO believes there are other contenders in the mix, like Ripple, but feels their philosophy will ultimately catapult them above the rest. All investors in the cryptocurrency market are placing their bets on which altcoin will pass Bitcoin down the road.

Charles has his eyes on the long-term rather than getting a project out that isn’t perfect step-by-step. He wants Cardano and it’s underlying coin ADA to be used 50 years from now.

Hoskinson’s big vision is to build Cardano to be the financial stack of the developing world. In the interview he said:

 “We want this to be used throughout Africa, and the Caribbean, and South America, and to run in parallel with the financial system of the developing world, and eventually consume it, and transform it from the outside, as opposed to what Ripple is trying to do which is transform it from the inside. I don’t wanna go down that road.”

This is a pretty lofty goal, but I think the founder has completely forgotten about Stellar. Stellar seeks to do just that, with a very similar structure to Ripple. Currently, Cardano is the seventh largest cryptocurrency by market cap, but Stellar is close behind at number eight, sitting $2 billion behind in its market cap. While the two are completely different platforms, it seems the two projects have the same vision in the long-run.

>> Cardano Overtake Litecoin

Latest Developments

A few days ago, EMURGO announced the news that ADA was accepted on Metaps Plus.

Input Output (IOHK), the research, and development company funding the Cardano project made the announcement also last week that the test net for Cardano smart contracts will be released at the end of the month.

Today, the IOHK was at Google’s headquarters discussing their research and Cardano.

This is HUGE news for the Cardano team, as Google owns just about everything. What will become of this meeting? That remains unclear, but it’s a good sign.

ADA Price Movement

At press time, ADA is trading at $0.278 a coin, down –2.58%, in 24 hours. For the week, ADA is down –15.75%, but for the month, the coin is up over 40%.

Featured Image: Tech News

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