Cardano Foundation has faced calls to improve their marketing as it is sub-par. However, the calls may be a bit misguided as explained in this article.
New technologies baffles anyone who interacts with it for the first time. This is the narrative being spread currently regarding the Industry 4.0, blockchain technologies and associated cryptocurrencies. The revolutionary technology has been reduced to a ‘money making scheme’ rather than the impact most of these blockchains will make in the near future. One of the biggest causes of the situation is the complication in the whitepapers of these projects leading to difficulty in understanding the exact use case of the blockchain.
The Cardano – marketing problem
Cardano (ADA) has faced much criticism in the last few months for having an overly academic whitepaper and a complex Haskell language that few can understand. More investors and Cardano followers are calling on to more efforts by the Cardano Foundation to increase marketing of the project to increase adoption.
A Reddit user said,
“I have a developer background (slightly different [from Haskell]) but still many of the concepts and words are too high level for me. I keep hearing all these big words that sound amazing, but I don’t know if it means everything is going well […] we need a normal presenter who can explain what many of the new concepts are and why it means so much in the grand scheme of things.”
The statements made by the Cardano follower raises the question, “Should Cardano Foundation focus on extensive marketing of the blockchain?”
Development vs marketing for Cardano?
The cryptocurrency community shares different opinions on the subject of marketing as some argue the development of the program to be the key factor to adoption while others argue marketing to be the crucial factor. Both offer a great deal of value to the projects, but with the budget but most project teams (like Cardano) have decided to focus on development more than marketing.
While teams such as Tron and Ripple give attention to marketing their projects, Cardano has continued to build its project and let the market learn about it on its own. The articles released on Cardano blogs and previously on IOHK’s blogs, are too technical for the common reader and investor leading to misunderstandings of the project.
Nevertheless, Cardano makes a good point on its efforts to develop its ‘complicated’ blockchain project rather than focus on marketing and offer a sub-par project. Most of us use everyday technologies without knowing the actual back end systems, and this is the idea that the dev team at Cardano are working towards.
A finished and efficient project will improve the overall Cardano value as compared to explaining the backend complicated stuff and extra marketing.
Cardano (ADA) price analysis – October 2018 to 3rd October 2018
ADA started off the month of October at $0.079783 USD and soared to $0.090 USD across some exchanges a week later following the announcements of the Cryptocard and the Mainnet going live in the coming months. The hype soon died down as the price plummeted by 25% in five days to $0.0702 USD and has since been on a bearish trend.
Cardano (ADA) currently trades at $0.071755 USD representing a slight 0.88% gain in the last 24 hours. The coin is ranked 8th on the Coinmarketcap charts with a total market capitalization of $1,860,398,339 USD.