Ethereum’s rival Cardano announced that it has entered into strategic partnerships with a wide range of companies at the Cardano Summit 2021 held on the 25th and 26th.
In particular, the network’s partnership with Chainlink, a decentralized Oracle project, and Fortune 500 company Dish, an American telecom service provider, has been gaining attention.
Launched in 1980, Dish currently provides pay-TV and telecommunications services to approximately 19 million customers, with annual revenues exceeding $15 billion.
One of the pioneering companies to enter the crypto market, Dish started accepting Bitcoin (BTC) as early as 2014. Dish Network said it aims to introduce Cardano’s blockchain technology to its communications services and issue digital IDs to over 8 million customers.
With this alliance, Cardano will enter the huge telecommunications business sector. Cardano founder Charles Hoskinson pointed out that blockchain technology could revolutionize the connectivity of telecommunications networks and hopes that Cardano will become the default network in the space.
Regarding its partnership with Chainlink, the alliance will allow Cardano developers building smart contracts to access a “real-world database” through a decentralized Oracle network of chainlinks.
According to the announcement, a real-time market price feed will be linked to Cardano, with additional sports and weather data feeds to be added in the future.
Additionally, the other partnerships include collaborating with
- Medical AI robot ‘Grace’ developed by Awakening Health,
- Global land restoration and tree planting verification company ‘veritree’,
- Esports giant ‘Rival’
- Filipino Financial Technology Venture UBX
- AID:tech, provider for ID management and verification solutions for finance, payment, and insurance