Cardano Foundation tweeted:  “Davos Diaries – 24 Jan 2020:@CardanoStiftung has signed a letter of intent with Finka. Under the guidance of the Foundation, we will evaluate the Switzerland-based Finka as a potential Goguen launch partner. More information to follow, so stay tuned.”

The new alliance is going to create the necessary infrastructure purely on Cardano to launch a financial product in the market.

Charles Hoskinson, CEO of IOHK, attended the World Economic Forum in Davos, Switzerland, and decision-makers from across the globe were talking about money, business, and the cryptocurrency industry to establish contacts and partnerships. Thus, the Foundation for a new project in the financial sector has come into existence.

Hoskinson stated, “I’ve never seen the company so unified and moving so quickly.” This he said concerning the commercial wing of Emurgo partnering with Uzbekistan at the government level to form a blockchain task force developing regulations for security token offerings (STOs) and security token exchanges (STXs).

Sydney Ifergan, The Crypto Expert Tweeted: “Cardano ADA is going places by partnering up in government projects.  Governmental acceptance is a good thing. With further updates, maybe several government projects will become a reality. Truly, Illuminating.”

This is the first step towards ADA denominated structured financial products. However, there is a lot of work to be done by both parties.

Cardano ADA – Price Trends

Cardano is progressing with ambitious plans in 2020.  ADA has been accumulating for nearly six months.  There has been a clear consolidation, and there were no signs of trends because the asset has been trading in ranges. However, apart from the fundamentals, there was no apparent reason for the token going bullish.

The price of the Cardano is breaking above 200 MA.  Therefore, it is expected that it would be a long-term uptrend.

Cardano ADA – OBFT Hard Fork

The OBFT hard fork is set to happen in February 2020.  The first workshop for OBFT is with the auditing giant PwC. Hard Forks are not about creating new coins all the time.  The infrastructure is getting lined up for the fork. 

Technically, the nodes keep the blockchain network running.  And they need to use a particular version of the software.  With the upgrading of nodes, updating to the latest version of the software is necessary.  Since old and new nodes will be operating on the blockchain, it is not required that new nodes will be accepting the old ones. To sustain consensus, dominance upgrading becomes necessary irrespective of the numbers of old or new nodes.