In a recent live stream with the Cardano community, IOHK co-founder Charles Hoskinson announced that the protocol will work with professional services network PriceWaterhouseCoopers (PwC) to generate a new commercial strategy.
Hoskinson, having recently returned from the World Economic Forum (WEF) in Davos, Switzerland, shared that PwC will be “consolidating” information from Cardano, IOHK, and the Cardano Foundation to build a commercial strategy.
In his live stream, Hoskinson claimed that Cardano’s base ledger was “at least five times faster than what Ethereum has currently brought to market with its proof-of-work model”, which he believes will make it attractive to enterprise users.
Cardano’s partnership with PwC may be in reaction to competition from Ethereum, which has just formalised the Ethereum Enterprise Alliance (EEA) to bring business users to the network and deploy enterprise solutions.
The EEA, led by UniBright and Chainlink, already has business members including Intel, Microsoft, Santander, and IBM.
Although Cardano is still catching up to Ethereum, its latest partnership does show that the protocol is taking the onboarding of new enterprise users very seriously ahead of full launch.
ADA poised for a breakout?
Yesterday, Coin Rivet reported that several key indicators were pointing towards a major breakout for ADA, which may see it move closer to its 2019 highs of $0.11.
A breakout would see ADA move above the 200 EMA for the first time since last July, which could cause a rapid increase in price.
Many Cardano enthusiasts have been participating in the live incentivised testnet of Cardano’s Shelley phase, which marks the first time users have been able to stake their ADA or delegate it to a stake pool operator.
Users who participate in staking earn passive rewards on their ADA as the protocol looks to move towards full decentralisation.
Some may remember that Coinbase recently hinted at adding new assets that are “sufficiently decentralised”, one of which was ADA. With the full decentralisation of the Cardano protocol approaching, Coinbase could be looking to list the asset soon.
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.