Cardano Updates

Midnight and Anzens

A lot of news in from ScotFest and the Cardano Summit. Too much to blog about now we’ll cover it in more detail over the coming weeks. We just wanted to mention a couple of major developments.

First up Midnight, which will be:

..a data protection-based blockchain that safeguards sensitive commercial and personal data, protecting fundamental freedoms of association, commerce, and expression for developers, companies, and individuals.

Midnight will enable developers to quickly build and deploy data protection-first DApps using many programming languages, starting with Typescript, whilst companies will be able to share mission-critical information without the fear of leaks or censorship. Individuals will be able to safely share their sensitive information when operating in a connected world.

This is a big deal and has already got the folks at Monero worried about their market share! It will be based on the research performed for Kachina which we mentioned a while back. This promises to open up a lot of very interesting applications including non-custodial vaulting and we will be following closely.

And we are getting a fully backed stable coin on Cardano natively courtesy of Emurgo and Cardano Foundation. The coin will be called Anzens and will be launching in Q1-2023.

The press release from Emurgo notes:

SINGAPORE – November 18, 2022 – EMURGO, the official commercial arm and a founding entity of the Cardano blockchain, announces the planned launch of its new U.S. Dollar-backed stablecoin, USDA. USDA is the first fully fiat-backed, regulatory compliant stablecoin in the Cardano ecosystem. 

Fueled by Cardano and designed to safeguard Web3 companies and consumers from crypto market volatility, USDA leverages the stability of the U.S. Dollar combined with Cardano’s security, low fees, and eco-friendly blockchain. This new stablecoin offering locks in the value of investors’ crypto assets by pegging 1:1 to the U.S. dollar, reducing volatility, and unlocking fast global transactions without legacy banking and payment infrastructure delays.

Excellent news, and still another day of the summit to go!