- Cardano signs partnership deal with GenTwo AG
- Big Plans for Cardano ADA in 2020
CEOs and decision-makers of prominent companies around the globe have gathered At the recent World Economic Forum in Davos to discuss the development of money, business and industry of the future. The CEO of IOHK, Charles Hoskinson is not left out of this gathering, as he is trying to form new collaborations and contacts.
The chairman Nathan Kaiser shared a youtube video update according to Cardano News Update, Nathan stated that Cardano testnet has flourished in paving the way for a new project in the financial sector. The CEO of GenTwo AG, Philippe Nageli will attend the Davos event as a representative of the company. During the event according to Cardano Latest update, there was a detailed discussion between Cardano and the Swiss company on potential collaboration prospects.
According to Kaiser, Cardano and GenTwo were able to come to discuss and find common ground. The target of the collaboration id to establish a financial product in the security sector that is founded on the Cardano testnet structure. This should serve as the basis for the development, testing and market launch of additional financial products in the future on the joint ecosystem.
“Cardano has made a first step towards bringing an ADA-denominated structured finance product. We had initial talks with GenTwo on a potential securitization structure that led to an initial commitment to set up a foundational infrastructure for potential future versions of ADA-denominated products.
There is much work left to do by all the parties, as we will witness gradual conversion oft he crypto and the finance worlds.”
Cardano (ADA) Price Today – ADA / USD
Though there is no additional information on the forthcoming partnership yet, it appears this collaboration could form the basis for several upcoming products. GenTwo is a Swiss-based company that provides its customers the chance to protect bankable and non-bankable assets with a Swiss ISIN without issuer risk at a minimal price. With the partnership, GenTwo AG is trying to solve the issue with conventional financial products. As gathered from Cardano News update, GenTwo has taken up democratizing the issuance of financial products.
Big Plans for Cardano ADA in 2020
According to Cardano’s latest update, plans are on the way for the development of a decentralized software project with the European Union in partnership with IBM Research. Though full details on the project are yet to be released, it is only known that the project entails a multi-year partnership. The collaboration with McCann Dublin an advertising firm will be a revolutionary project. According to Hoskinson, the firm is planning to market aggressively this year. He went thus:
“This year, in particular, we will be tough on advertising. I have told my company that we are pursuing an initial Cardano-First strategy. […] We will be very aggressive in commercializing the technology when Shelley and Goguen are activated.”