Ford Motor Company has initiated the test phase for safely storing legal documents on Cardano’s blockchain. Part of this pilot is determining how Cardano’s systems can facilitate unchangeable record-keeping.
This further strengthens the case for enterprise use on Cardano, bridging real-world information security concerns with decentralized technology. The trial comes at a time when many companies are looking into incorporating blockchain technology into their business processes.
Although there is little information available, some insiders say the test centers around document timestamping and verification related to contracts using Ford’s blockchain. Ford has taken a bold leap in adopting Cardano by tapping into its corporate applications rather than leaning solely on speculative crypto buzz.
Cardano’s Hoskinson defends $100M treasury conversion plan
Charles Hoskinson recently addressed growing debate around his $100 million treasury proposal. In a podcast with David Gokhshtein, he laid out his vision for converting part of Cardano’s treasury into a multi-asset fund. The goal is clear, generate yield and reinvest it into ADA.
Cardano’s treasury holds 1.7 billion ADA. At current prices, that’s roughly $1 billion. Hoskinson argues this ADA is sitting idle, earning nothing. He wants to split $100 million from the fund, half into Cardano-based stablecoins and half into Bitcoin.
He believes yields of up to 10% are achievable and mentioned those profits would be used to buy back ADA and grow the treasury. Critic Anthony Pompliano accused him of dumping ADA for Bitcoin, but Hoskinson maintains it’s a long-term play to strengthen Cardano’s ecosystem.
Boosting DeFi and stablecoin appeal
To add on, he also stressed that the plan isn’t solely focused on profit prognosis. It also seeks to improve Cardano’s weak stablecoin metrics. Cardano currently only holds $33 million in stablecoins with a TVL of $340 million which is drastically behind Solana’s $11 billion and Ethereum’s $190 billion in stabelcoins.
These figures are very unattractive to major issuers such as Circle. Hoskinson believes that stablecoin backed well managed treasury would greatly assist this problem. He is dropping hints that a formal proposal will soon be ready for voting which seems bold yet promising at the same time.
If accepted, this could turn out to be groundbreaking not just for Cardanos DeFi adoption but also its treasury model which if closed the gap with Solana and Ethereum in usage and adoption as well
