The new CEO wants to convince the corporate sector that Cardano will continue to exist in 30 years.
Cardano recently celebrated the third anniversary of the launch of its main network. In preparation for the celebration, the Cointelegraph had the opportunity to discuss future project plans with the new CEO of the Cardano Foundation, Frederik Gregaard.
Gregaard, who has not yet officially taken over the post of CEO, has assured that he will take up this new role sometime before November 1, although he does not yet have the exact date.
He currently says he is ending his tenure at PwC, where he directs digital financial services for the multinational network. Gregaard believes there is prejudice against open-source public blockchains, which he calls a „trust gap.
Considering that the entire cryptographic space is only 10 years old, many established corporate participants have existed for decades, if not centuries. They may have business plans that span longer time horizons than projects like Cardano.
Moreover, it is no secret that the average life expectancy of a cryptomeda project tends to be low. This has only increased after the rise of many encryption-related scams and illicit connections (often amplified by the media), which have created an inadequate reputation for much of the space in the eyes of corporate users.
If a large company decides to rely on a blockchain for one of its major use cases, it needs to be sure that the chosen protocol will continue to be properly maintained for the foreseeable future. The lack of assurance around this promise has led to what Gregaard calls a „trust gap“ – and one of his main missions will be to make this gap a relic from the past:
„When you have an open project like this, to convey this certainty to the large corporations that we will be around for the next 10 to 20, 30 years. So you can build with us for the long term too, so that we are solid both in terms of finances, but also in terms of staff and people. ”
Although Cardano has been criticised for chronic delays in development (as has his older brother, Ethereum), this year may be different. The platform went through a mainnet upgrade, known as Shelley, earlier this year, which brought staking and pools.
However, according to Charles Hoskison, two more major updates are expected this year: Goguen, which will add smart contracts, and Voltaire, which will introduce decentralised governance. With that in mind, we asked Gregaard about the sectors he sees as most promising for Cardano adoption.
He said that even with Cardano’s current state of development, it could be used to resolve a number of cases that exist as part of what he calls „financial services plus:
„Financial services +, including treasury and securities and so on. I see many use cases that we can begin to deal with by now. ”
Gregaard also believes that COVID-19 has led to an acceleration of digital adoption. „This has given us five to six years of digital adoption by consumers around the world, including businesses in half a year,“ he said. However, it has also revealed certain inefficiencies in the healthcare system:
„And I think one of the big problems we face today is that most states say they trust each other. Most hospitals and institutes, they say we are all on the same page, but when it comes to real life. When it comes to life, death, and the security of your country, the stakes go up, right?“
In his opinion, Cardano could be used for a number of cases in this space, such as tracing the origin of medicines or registering the vaccination records of patients. However, he admits that this is a highly regulated industry rather than an affordable fruit. Still, gaining strength in these large, well-established industries is essential for Cardano if he is to stay alive for decades to come.