- Cardano collaborate with the Republic of Uzbekistan
- Cardano ADA Price Analysis – ADA facing resistance, targets $0.046
Cardano is Working with Uzbekistan to Facilitate Security Token Offerings. The Cardano Commercial wing recently announced its partnership with the Republic of Uzbekistan. EMURGO, which aims to aid the adoption of the Cardano’s blockchain ecosystem. Cardano stated that the collaboration is aimed at creating an army that will form a legal structure for Security Token Offerings (STOs).
Cardano (ADA) Price Today – ADA / USD
EMURGO will be teaming up with Uzbekistan’s National Agency of Project Management (NAPM) to create a regulatory structure for Security Token Offerings (STOs) in Uzbekistan. The partnership involves the two parties to work together by establishing an army for the incorporation of blockchain technology finance. To aid the project, additional members have been added. Both KOBEA Group and Infinity Blockchain Holdings will support in the development of the army as advisors.
EMURGO will work with KOBEA to provide advisory services on digital asset banking, digital asset exchanges, blockchain education, etc. The established task force stated that it will examine the prospects of the Cardano blockchain being a positive influence by providing structure for its growth.
Speaking on the collaboration, the CEO of EMURGO stated:
“Uzbekistan today, more than ever, is open to innovation. It is a great honor to be able to work closely with the country’s government officials to help drive the implementation of blockchain technology. We are glad to provide our advisory services to the Uzbekistan government to build essential blockchain infrastructure & support local universities to train future blockchain experts.”
So far, Security tokens are projected to bring notable benefits to the world of conventional financial securities. The STO can facilitate fractional ownership improved liquidity, lessen expensive mediators, and foster a securities market accessible 24/7/365, requiring just an internet connection.
With the partnership, it seems Cardano is trying to bring digital banking and STO service to Uzbekistan, to drastically reduce the percentage of the unbanked. according to a report from the World Bank, approximately 37% of Uzbekistan’s 31 million people are unbanked. subsequently decreasing its percentage of the unbanked.
Cardano ADA Price Analysis – ADA facing resistance, targets $0.046
Currently, ADA Price is trading around the $0.046 resistance level. As soon as a break happens at the aforementioned level, ADA price will likely charge at the next resistance level. Currently, there is a high prospect for a buy rather than a sell for ADA coin. Key Support Levels are $0.0415, $0.0355. While Key Resistance Levels are $0.055, $0.064. After a few days of ADA price recovery, ADA coin has continued to increase.