Lasting impact and sustainability: Cardano Foundation sets its sights beyond immediate gains

“We are optimizing towards decisions which will impact Cardano in the next 10 to 20 years,” Gregaard affirms, highlighting their forward-thinking approach.

As a Swiss non-profit organization, the Foundation distinguishes itself by eschewing the traditional Initial Coin Offering (ICO) route. Gregaard underscores the significance of this choice, enabling the Foundation to collaborate closely with regulators, fostering an environment conducive to blockchain innovation.

“Our mission is to champion blockchain adoption globally, ensuring equitable access to its transformative potential,” Gregaard emphasizes, echoing the Foundation’s inclusive vision. He stresses the importance of universal access to blockchain technology, stating, “No matter what country you are from, no matter what side of a border you are born on, or what culture, you should have access to this wonderful technology, as it will bring you economic opportunities wherever you are.”

“In our collaboration with the Dubai Police, we pioneer the application of blockchain technology in crime-solving,” Gregaard reveals. “This pilot project exemplifies our commitment to leveraging blockchain for real-world impact while ensuring data privacy through innovative verification capabilities.”

Addressing regulatory frameworks, Gregaard lauds the UAE’s transparent and principle-based approach, drawing inspiration from regulatory models in Singapore and Switzerland. “The UAE’s strategic positioning attracts the blockchain ecosystem, offering clarity and fostering growth,” Gregaard notes.

In navigating emerging regulatory landscapes, Gregaard recommends adopting models like the Digital Operational Resilience Act (DORA), which harmonizes rules for operational resilience in the financial sector. “A cornerstone of our approach lies in the adoption of token classification frameworks,” Gregaard explains. “By categorizing blockchain assets based on purpose and function, these frameworks offer clarity amidst regulatory complexities.”

“It is a balancing act. Right now, we know there is a large appetite for different types of cryptocurrencies. I am actually a big believer in cryptocurrencies, and I do think that Bitcoin has paved the way for a new world society, where we potentially one day will have a new secondary reserve currency based on algorithms and not based on political power,” said Gregaard.

This brings a lot of advantages, especially in terms of the broader ecosystem, and developing specific use cases for the general industry. In terms of tools to navigate the Cardano blockchain specifically, Gregaard highlighted the Cardano Explorer, which provides information about the latest epochs, slots, blocks, and transactions on the Cardano network.

Henzie Healley

Henzie Healley, Managing Partner and Co-Founder of The Counsel Services, is a seasoned common law qualified lawyer based in Dubai. With extensive experience in corporate law and emerging technologies like Web3.0/Blockchain, she founded her first legal consultancy in 2019, evolving it into The Counsel Services. Registered as an ADGM Corporate Service Provider, her firm provides direct access to senior legal counsel and corporate services. With over five years of hands-on startup experience, Healley and her team have played a pivotal role in guiding numerous companies to success in the Middle East, from seed rounds to IPOs or exits.