Cardano is working on a big idea: a system that automatically handles global compliance rules for finance and digital assets. This is a huge deal as the world gets more connected.
Automating Compliance Worldwide
Cardano founder, Charles Hoskinson, envisions a future where following regulations is automated. This would make it much easier for everyone – individuals, businesses, and governments – to comply with the law. He sees this as bridging the gap between blockchain technology and legal requirements.
The system would use decentralized technology and smart contracts to create a clear, fast way to monitor financial transactions globally. Hoskinson explained that compliance could be built directly into the code, using things like zero-knowledge proofs to protect privacy while still ensuring compliance.
The system would be flexible, offering different APIs (Application Programming Interfaces) for various jurisdictions (like the US, Germany, or Abu Dhabi). It’s designed so that everyone, from individuals to massive corporations, would use the same system, making things fair and consistent. He emphasized that this automation is built right into the transactions themselves.
Cardano’s Growing Transaction Volume
Beyond the compliance system, Cardano is also celebrating a major milestone: over 112 million transactions processed, with incredibly low fees (less than $0.25 on average). This demonstrates the network’s scalability and affordability, showing that you can have both at the same time.