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Cardano partners with Finkda Advisors and Dust Identity

  • At the World Economic Forum, Cardano signed a letter of intent on cooperation with Finka Advisors.
  • Cardano will also collaborate with Dust Identity to verify the traceability and authenticity of products.

Charles Hoskinson and his team attended the World Economic Forum in Davos, Switzerland, and made new headlines almost daily. Most recently, Cardano announced a partnership with an EU consortium to advance the adaptation of distributed ledger technology. In addition, Cardano wants to create the infrastructure for the launch of a new financial product in cooperation with GenTwo AG.

Cardano partners with Dust Identity

In a new video Nathan Kaiser, Chairman of the Cardano Foundation, has announced the cooperation with Dust Identity. Dust Identity is an American-based company that specializes in tracking the authenticity and traceability of products throughout their entire life cycle. Dust stands for “Diamond Unclonable Security Tag”.

Dust Identity uses nanodiamonds to create a wafer-thin identity layer on objects that contains information and is very difficult to destroy or manipulate. Using an optical scanner, the layer’s data can be stored in a cloud-based infrastructure. Kaiser explains in detail:

The Cardano Foundation and Dust Identity are both commited to strengthening the gold blockchain ecosystem. The two entities hope (Cardano and Dust Identities) collaboration will lead to greater transparency and encountability for global organizations.

Although no further information on the cooperation is known yet, the cooperation could consist of Cardano blockchain helping to verify the authenticity of products. Product information could be stored on the Blockchain in an unalterable and transparent manner.

As early as mid-October last year, Cardano and the shoe manufacturer New Balance piloted an authentication system to verify the authenticity of branded shoes. First, however, further information must be awaited before the extent of the partnership with Dust Identity becomes known.

Cardano signs Letter of intent with Finka Advisors

Nathan Kaiser has also announced in Davos that Cardano has signed a Letter of Intent with Finka Advisors. The company is located in the “Crypto Valley” Zug in Switzerland and helps global companies to integrate the Blockchain technology into their own business processes. Finka Advisors pursues the following goal:

Finka’s goal is to provide innovative financial solutions to established companies and highly-credible projects with tangible assets. Finka creates tailored solutions together with its strong network of experienced partners to successfully conceptualize, design, and implement each solution.

Kaiser describes Finka Advisors as a potential launch partner for phase 3 of Cardano, Goguen:

Cardano Foundation has signed a letter of intent with Finka. Under the guidance oft he cardano foundation we will evalute the switzerland basend finka as a potential Goguen Launch Partner.

Goguen is the third development phase of the Cardano Roadmap, whose main goal is to implement the functionality of Smart Contracts on the platform. Whether Finka Advisors will actually use Cardano to handle the launch of Goguen remains to be seen until further information becomes available.

The price of Cardano (ADA) has risen slightly by 2.08% to USD 0.0445 in the last 24 hours.

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About Author

Collin Brown

Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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