The strategic partnership aims to introduce Cardano’s blockchain technology to DISH’s telecom services, likely to boost Cardano’s adoption and benefiting DISH’s users with 8 million digital identities (D.I.D) on phones satellite.
Speaking at the Cardano Summit 2021, Hoskinson said that while the main idea was to create a network where users can move seamlessly from one space to another, the underlying business infrastructure has remained “ossified.”
“We think there’s a lot of intersection between the use of identity the movement of data capacity exchange and other things that can be done and explored.
And it can be done at a scale of millions to tens of millions, and eventually at a global scale. So, this is a super exciting relationship we can’t wait to see how it goes.” Said Hoskinson.
The IOHK founder added that he hopes the partnership will transform the entire model of the Telecom industry despite the challenges of implement blockchain technology into the field.
According to him, millions of DISH users will have network connectivity with Cardano, without the influence of centralized corporations. If it becomes successful, it could turn into the default business model for the telecom space.
DISH is one of the largest Telecom services, with over 19 million customers, that gives users full control of every aspect of their accounts. The company is also one of the first public companies to accept crypto payments, and is listed as a fortune-500 company.
This and other positive news are pushing ADA’s price to higher levels, despite the bearishness surrounding the recent recycled Chinese FUD. As CryptoPotato reported earlier today, Cardano was Friday’s exception by remaining on the green while the altcoin market shed blood.
As press time, ADA is trading at $2.32, with a market cap of $75.5 billion, according to CoinGecko. ADA is now the third biggest cryptocurrency, following BTC and ETH.