Cardano as the basis for a credible financial alternative

Blockchain is a disruptive technology. Cardano is one of many implementations of blockchain. One of the biggest advantages of this technology is also a disadvantage. The openness, anonymity, global nature and unregulated environment attract fraudsters. Fraudulent projects are being created on a large scale on the foundations of the biggest technological innovation of the internet in the last 10 years. Cardano will have to overcome this difficult phase that all other platforms have gone through. Cardano must differentiate itself not only technologically, but also reputationally. For this to happen, alternative financial services must be built on top of it that is economically sustainable in the long term, solve real problems and are adopted by the masses. This will not be easy.

TLDR

  • Blockchain has to overcome the phase in which the bad will be more visible than the good.
  • High volatility and absurdly high-yield farming are a poor basis for mass adoption.
  • It may be necessary to first improve the basic features of blockchain technology before more advanced services can be built.
  • One of the most successful concepts that have taken off and are increasingly being used is tokenization. This can be a stepping stone for other services.
  • Many CeFi services have failed and everyone knows that DeFi is a good direction.

This article was prepared by Cardanians with support from Cexplorer.

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