Emurgo is quite active in developing the Cardano ecosystem. It helps out with investments, as well as research and development for entrepreneurs looking to create Dapps on the Cardano ecosystem. Now Emurgo is taken things a notch higher, thanks to its partnership with SOVC. Through this partnership, the two will combine their expertise to hasten the speed of bringing new innovations to the market. Here is what SOVC managing director had to say about this deal.
“Blockchain and its attendant technologies have the potential to radically change the ways we think about trust, money, work, assets, data ownership, and more. But like other deeply transformative technologies, we’ve seen both hope and hype thus far. DLab is a deep technology program that builds and nurtures high-potential founders and startups who have the talent and ambition to build the critical building blocks of this ecosystem along with the first-to-market killer apps. The era of ICO-hype is over, and it is past time to build startups of the utmost quality with proper governance and management to achieve the radical changes we all hope and know can be achieved.”
This is a big deal for Cardano because it will increase the number of Dapps running on the Cardano ecosystem. SOVC has in the past helped bring high profile startups to success including Bitmex. In essence, by combining expertise, similar high-level Dapps could be built on the Cardano blockchain. Since the value of platform blockchains is premised on the number of applications running on, it then follows that this is a big deal for Cardano. If Dapps as high level as Bitmex are built on the Cardano blockchain, Cardano (ADA) could shoot up significantly going into 2019.
Besides, this development is coming at a time when the Cardano team has a lot going on, to get Cardano to the top. For instance, it is expected that Shelley will be live in 2019. Once that happens, Cardano will have become fully decentralized, and that will draw in more developer, further pushing up the value of Cardano going into the long-run.
However, to make the most out of an investment in Cardano, it would be best to look at it from a long-term perspective. That’s because all these developments are long-term in nature, and it will take time before any huge Dapps come out of this Emurgo partnership, as well as all the other developments by the Cardano team. As a matter of fact, everything about Cardano will start taking shape going into 2020 and beyond. That’s when Cardano will have become fully decentralized and covered a good chunk of its roadmap.
In the short-term, Cardano (ADA) is likely to continue trading under bitcoin’s sway. At the moment, bitcoin’s upside momentum is weak, and this will reflect in Cardano’s short-term price action as can be seen in its price action today, where it is hovering around $0.074. That’s after dropping below $0.08 following yesterday’s market-wide collapse. Long-term, once Cardano becomes fully decentralized, it could end up as the trillion dollar crypto that Charles Hoskinson envisions.