Cardano is on fire. We don’t need to wait for smart contracts, let’s get business activity on the chain today.
Fred Gregaard in the fire side chat series spoke about the real-world demand for Cardano.
Right now it seems the value of Cardano is determined almost exclusively by speculation. What type of events/upgrades/deal need to happen to create a real-world, utilitarian demand for Cardano?
In response, Fred Gregaard stated, “We need to be quite honest about this. First of all, there are so many lenses you can look at the value on. It is possible to do a whole video about the market value and on whether it is fair or unfair and on you will never agree on it.
What is to be said, is when you look at the global architecture of infrastructure of the whole world. We are still just a pebble in the water there. So, there is still a lot of room for growth. If you look at it from another way, one of the main KPIs with the Cardano foundation is that our purpose is to grow to where every “Transaction fee is measured in ADA”
Obviously, if we change the transaction fee structure then we might change the KPI. But for the most part there is a fixed fee component and there is a component, which is basically on how many bytes you put in to that transaction. And, what we are trying to achieve with that is when actually somebody buys or sells ADA that is okay. If somebody buys “token A” on the Cardano blockchain that is okay, but that is not why the foundation is here.
The foundation is here because we want to capture real business value on the chain. If you want to capture more business value, you need to put in more bytes in to the transaction because you want to have not just on chain activity, you want to capture that knowledge on the chain. And, when you start doing that you start seeing that.
For instance, some ambassadors and stake pool operators have created a pool explorer where you can go in and actually look at metadata and type “music” or “wine” and you can see buyers wine Metadata coming in. We have to keenly look at it, the more we can increase the transaction fee the more that actually shows the health of the utilitarian value in there.
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