Cardano Foundation CEO: A more inclusive global economy through blockchain

Frederick Gregaard, the CEO of the Cardano Foundation, sat down recently with The Crypto Radio’s Justin Harper to share his vision for how the Cardano blockchain can help create a more equitable and collaborative global economy.

Based in Switzerland but a regular visitor to Dubai, Gregaard said: "There's a lot of really positive things happening where Dubai and the UAE in general is really making a larger dent and an impact on world trade and the global economy."

The Cardano Foundation is a Swiss non-profit focused on the long-term optimization of the Cardano blockchain. It will be hosting the global Cardano Summit 2024 in Dubai on October 23-24, bringing together industry leaders, businesses, Cardano ecosystem projects and blockchain enthusiasts.

One of Cardano's core principles, according to Gregaard, is the belief that "everyone, regardless of where you're born, should have access to equal technology offerings". This is a stark contrast to the current reality, where an estimated two billion people lack a national identity, effectively excluding them from the financial system and other essential services.

"There is really no registry of them, because there is no digital identity about them. And under Cardano blockchain, you can build up that identity by interacting with the blockchain.”

Giving back

This ability to establish a verifiable digital identity on the blockchain opens up new opportunities for the unbanked, such as accessing micro-financing and building an economic profile, even without traditional forms of identification.

Addressing the challenge of onboarding these underserved populations, Gregaard emphasized the importance of the Cardano Academy, a free training program that takes users from no blockchain knowledge to a deep understanding of the technology.

"We give away the scripts for free and all the educational material. So you can run that through a large language model today for free, like a chat GPT or Gemini or something like that, and translate that into your local language," he explained.

Beyond education, Gregaard highlighted the potential for local meetups and Cardano ambassadors to help spread awareness and create new income streams within communities. "You can become a Cardano ambassador. You get a new income stream there. That's the third income stream we just created for you, right? And now you can upgrade the community to kind of understand what is blockchain and what is crypto, and what does that mean?"

The art factor

The CEO also discussed how Cardano can enable the monetization of local resources, such as art and crafts, through the use of non-fungible tokens (NFTs) and decentralized marketplaces. "Maybe this local art I can put into an NFT, and then I create a small marketplace or join an existing marketplace.”

Gregaard's vision for Cardano extends beyond individual empowerment, as the foundation is also collaborating with organizations such as Dubai Police to enhance global crime-fighting efforts. By using a one-way hash algorithm, the system allows for the secure sharing of crime scene data without compromising personal privacy.

"It basically turns the model upside down so you don't have all this data flying around in centralized databases where you don't know who has access to it and who has a back door, and what is the protection mechanisms and so on, because everything is basically kept behind cryptographic proofs and is under control in the local authority, who, anyway, takes care of the privacy of the local population," Gregaard explained.

Gregaard and the Cardano Foundation are working towards a future where blockchain technology can level the playing field and foster greater global collaboration, empowering individuals and communities around the world.

For more details about the global Cardano Summit and to buy tickets, visit the Cardano Summit 2024 website

Listen to the whole interview on The Crypto Radio's live player or in the Thought Leaders podcast.