Blockchain technology is still in its infancy, and there is still a lot of work to be done. In the future, blockchain technology will be more than a transactional ledger and will have massive use cases that may not be possible yet. One thing that stands to open up this technology going into the future is geostamping. This stands for a digital record of geographic locations of a transaction. Geostamping will open up the usage of blockchain technology, in different industries where GPS tracking is required, and it’s a big deal for Cardano. That’s because Cardano is on the forefront in the research on geostamping in blockchain technology. Through the Cardano foundation, Cardano is part of Geognomo, an open source project that is looking into the use of geocoding in smart ledgers.
In a paper titled smart ledger geostamping: steps towards interoperability, the Cardano foundation is exploring the different use cases of geostamping in blockchain technology. Some of the potential use cases mentioned in this paper include the deliveries industries, vehicle tracking, supply chain management, insurance among others. For instance, in supply chain management, geostamping could be used to track cargo on ships using the blockchain, thereby cutting on the costs associated with this industry. It’s a big deal that could see the value of this crypto rise by a huge margin.
So how does Cardano (ADA) fit into this research on geostamping? Well, since Cardano is part and parcel of the research on geostamping, any breakthroughs in this area will see the rise of applications that make use of geostamping, built on the Cardano blockchain. For instance, it could lead to the rise ride-sharing applications on Cardano. Essentially, it will be possible to create uber like applications on Cardano. That’s just one billion dollar applications, and there are many more that can be built on Cardano once geostamping on the blockchain becomes a reality.
Being part of the Geognomo research is a validation of Cardano as a blockchain that has what it takes to change the world in the future. Cardano is just a year old, yet it has achieved so much it that short period. Some of its other key achievements so far include its breakthrough in scalability, through Ouroboros, the first verified proof-of-stake algorithm. The implications of this are tremendous in the sense that, the Cardano blockchain can be used to launch all kinds of applications without the inefficiencies that come with other platform blockchains. When this aspect to Cardano is combined with geostamping and the quantum resistant nature of Cardano, there is no doubt that billion dollar projects will launch on the Cardano blockchain.
For investors, all this gives confidence that Cardano (ADA) is a project that is building something revolutionary. As its roadmap begins to take shape, the value of this crypto will emerge as one of the best cryptos in the world. Revolutionary applications building on top of Cardano (ADA), could this project a trillion dollar project in the future.
But that’s a long-term projection. In the short-term, the value of Cardano will be largely tied to the current market fluctuations. For instance, today Cardano (ADA) is trending downward. It has dropped by about 8% in the day. One thing is clear though, once the market rebounds in a more stable manner, Cardano (ADA) will be one of the biggest gainers. Its strong fundamentals will give it the impetus to grow faster, relative to the rest of the market. It’s an interesting future for Cardano (ADA) as they continue to implement on their roadmap, and get involved in different revolutionary aspects of blockchain technology.