In a bid to improve on the utility of the platform, the Cardano team recently engaged members of the community on a brainstorming session on Reddit. The topic which was announced by a user with moniker Monkeykingzero asked for comments on possible areas in which Cardano could be integrated in the society.
He further gave guidelines for possible suggestions which included large and small scale uses that do not necessarily include buzzwords like financial systems and banking the unbanked which are commonly used terms in describing the potentials of the crypto economy.
Quick Exchange of Coins
Kicking off with his own suggestion, Monkeykingzero wrote that what excites him with Cardano is the prospect of immediate conversion and exchange of coins through interoperability. Even though he wasn’t sure of the implementation, he wrote:
“I’m in a self driving car in Amsterdam, open a QR code in daedalus and scan it. My wallet holds only ADA but it immediately converts and pays in euro coin or whatever those Dutch self driving cars run on. Doesn’t matter to me. I just need ADA.
In their contribution, another community member, CorruptedAesthetic wrote that even with the prospect of interoperability, Cardano still faces challenges from platforms such as Ripple and Stellar that are at advanced stages of such implementation.
The user stated that they had no misgivings about the prospects interoperability holds for Cardano, adding they had confidence in the team’s ability to deliver on it.
He further suggested a storage and lending system within the Cardano platform to enable hodlers finance projects they’re interested in and also lend for profit using the decentralized platform.
Cardano In Governance & Election
He also wants to see Cardano as a platform that builds a decentralized governance structure through which government accountability would be ensured.
“With Cardano, we can bring global accountability to the wealthy and help weed out corruption. I look forward to the day that I can see where my president spends my tax money when he is in Russia, for example.”
Other members suggested the involvement of the platform in STOs and elections, not just internal but external as well. The possibility of using the platform to trace the source and integrity of food and data in industries such as insurance were also explored.
Although the Cardano team did not explicitly present itself in the discussion, it is obvious that the platform has big dreams that may morph into something great. We would be watching keenly as events unfold.