Relationship between Cardano Development (CD) and IOHK's Cardano

My curiosity started when I was browsing partners of the World Economic Forum (WEF) and noticed that Ripple is a partner. So then I took a look to see if Cardano is also a partner, which on the surface there appears to be no partnership. However, Cardano Development (CD) is listed as a partner. Having never heard of CD before I decided to do a bit of digging to see if there are any ties to Cardano.

Cardano Development

Cardano Development was founded in 2007 by Joost Zuidberg and Theo Kocken – driven by a shared belief that local-currency financing for financial markets plays a vital role in economic development in frontier markets.

Cardano Development B.V. is a 100 percent subsidiary of the Cardano Development Foundation. In turn, Cardano Development owns 100 percent of the shares in each subsidiary.

One of Cardano Development’s primary funding sources for innovation is JoDEA. Since 2017, Cardano Development manages this incubator initiative with the aim to fund the development of innovative business ideas focused on local currency and local financial markets.


  • Hoskinson spoke at the WEF in Davos in 2020
  • Cardano founded in 2017 (coinmarketcap). CD started managing their incubator initiative in 2017 after receiving funding from JoDEA
  • Very similar company logo to CD

There are three organizations that are contributing to the development of Cardano. As one of these three entities, Cardano Foundation is an independent body based in Switzerland with core responsibilities to help oversee and supervise the development of Cardano and its ecosystem.

In Summary

I am trying to keep this as brief and to the point as possible but if you take a look yourself you will see the connection. Hoskinson has bosses and they reside in European countries. Cardano serves as an incubator of projects meant to progress the WEF’s agenda. It is deceptive of Hoskinson to never mention these things when he describes his “coming up” story. Its a little more complicated than how he portrays himself breaking away from Eth to start his own project. That is far, far, far from the full truth. He needs to be hounded with questions about Cardano’s funders and organizers who operate in the background.

I am personally mind blown by this revelation, especially since I’m quite familiar with the WEF and their agenda so for Cardano to be directly benefiting that org feels saddening.

cardanodevelopment[.]com/ (new users can only add 2 links in a post)

Sorry but im not really sure what you are refering to.

Cardano Development is an independent company and has nothing to do with Cardano’s blockchain.

What make you think otherwise except for the name?