Cardano Foundation partners with Berlin blockchain venture studio Konfidio, market reaction muted

• The main aim of the partnership will be to execute real-world business cases on the Cardano blockchain.
• Konfidio uses blockchain technology to build enterprise-scale dapps and business models.
• ADA/USD has fallen from $0.0473 to $0.0452 this Friday.

The Cardano Foundation revealed that they have partnered up with Berlin blockchain venture studio Konfidio. The main aim of the partnership will be to execute real-world business cases on the Cardano blockchain. According to their announcement:

“This is the first such alliance for the Zug-headquartered Foundation, one of the world’s leading not-for-profit blockchain organizations, and is in line with the mission to create and unlock value by driving the adoption of the Cardano blockchain.”

Nathan Kaiser, Chairperson of the Cardano Foundation, said:

“Our strategic partnership with Konfidio is yet another tangible step towards promoting and advocating Cardano and, more importantly, driving its real-life use cases. Konfidio’s homebase, Berlin, is a major global blockchain center and its worldwide relevance will help us put the spotlight on our one-of-its-kind platform. Our collaboration will also afford the Cardano Foundation an increased visibility in Germany and Europe.”

Dr. Mervyn G. Maistry, Founder and CEO of Konfidio, says:

“Konfidio’s strategy is based on global decentralized platforms unlocking value across the global economy. After having researched all the Turing-complete blockchains, we believe the third generation blockchain of Cardano is best-placed to ensure the stability and business continuity of real-life business models. We are working with both global corporates and the German Mittelstand and will use Cardano’s revolutionary dual-layer architecture in developing complex Turing-complete transaction platforms. This strategic partnership will help the development of real-world Cardano-based applications. We will also be able to provide young entrepreneurs with a combination of business model expertise and state-of-the-art third generation blockchain as an option for their future startups. Our aim is to increase the understanding of the protocol in both corporate and startup environments and accelerate value-add for both Cardano, the blockchain community and our clients.”

Konfidio is a company builder and venture accelerator that uses the blockchain technology to build enterprise-scale dapps and business models for both permissioned and permissionless distributed systems.

ADA/USD daily chart

ADA/USD has fallen from $0.0473 to $0.0452 this Friday, following a very brief bullish respite this Thursday. The 200-day simple moving average (SMA 200) has crossed over the SMA 50 curve, charting the “death cross” pattern, which is a bearish indicator. The price is also trending in a downwards channel formation.