Cardano research reveals 582 projects focused on authenticity

The Cardano Foundation has unveiled significant findings from its recent research into blockchain applications, indicating a notable transformation in how the technology is utilised.

On January 23, the foundation shared insights from a study of 582 projects operating on the Cardano (CRYPTO:ADA) blockchain.

The research categorised these projects into three main verticals: traceability, authenticity, and sustainability.

A substantial 54.6% of the projects are centered on authenticity, which involves secure verification methods to confirm identity and legitimacy.

In contrast, traceability accounted for 30% of the projects, focusing on creating transparent and immutable records for both digital and physical assets.

The remaining 15.4% are dedicated to sustainability, which supports various social and ecological initiatives.

“Traceability, authenticity and sustainability represent critical pillars in today’s blockchain ecosystem,” stated Frederik Gregaard, CEO of the Cardano Foundation, emphasised the importance of these verticals.

He noted that these areas are essential for addressing real-world challenges while fostering responsible innovation.

Gregaard elaborated that traceability ensures transparency and regulatory compliance, which is vital for building consumer trust.

He also highlighted that authenticity safeguards sensitive information in critical sectors such as finance and healthcare.

The research further revealed that approximately 70% of the projects within Cardano's ecosystem are aimed at international markets.

“This reflects not only geographical reach but also a fundamental shift in how blockchain technology is utilised,” Gregaard remarked.

He expressed enthusiasm about how these projects could transform global supply chains through effective verification mechanisms.

At the time of reporting, the Cardano (ADA) price was $0.9939.