Cardano Proof Of Stake – New Cardano Use Case Revealed
Cardano made the community excited when the team behind the project dropped an announcement on Twitter, involving the Proof-of-Stake.
Check out the tweet that the team shared below:
Read our latest post to learn how Wyoming is changing the steaks by delivering beef on the #blockchain.Built on Cardano, #Beefchain provides customers accurate information on cattle from honest farmers & highlights the need for #immutable data https://t.co/eN0lbFet48
— Cardano Foundation (@CardanoStiftung) November 11, 2020
Someone asked: “Why is a central database with a webservice not equally effective, especially since the service is provided by a company? Not being a troll, genuinely want to know.”
The answer stated the following: “Its permissionless protocol- no middle man needed. The technology enables thousands of scenarios like this in many different sectors to utilise the same technology. Everyone wins by participating in the ecosystem.”
Cardano has been making headlines a lot lately, due to their various achievements and bold decentralization plans that the team behind the project has.
Banks are interested in holding ADA instead of Bitcoin
Just the other way, we were discussing another interesting topic.
CEO of the Cardano Foundation, Frederik Gregaard, just took part in the 113th edition of the podcast “The Cardano Effect”.
In the podcast, he addressed the ADA adoption, privacy, leadership and the future of Cardano.
He also talked about the adoption of ADA by banks and financial institutions.
“(On the adoption of ADA by banking institutions) I already know some banks that can do this, but I’m not allowed to mention their names because they think there may be some regulatory turmoil, I need to agree with them before I disclose them (…), but it can be done today, and there are possibilities for that in the future. As a banker, I know which buttons I need to push,” he explained in the video above.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.