Cardano Summit Spotlights Products Amid Governance Crisis

More than 1,500 participants are currently meeting in Berlin for the major Cardano Summit. An ADA-specific credit card and a Cardano luxury watch have been announced. But behind the scenes, things are brewing.

Cardano is currently cultivating its European community with a large conference in Berlin

For the moment, many attendees want to ignore the ongoing weakness in the ADA price and gain insight into future plans. This harmony is disrupted by a standstill in Cardano’s self-governance, where a dispute over the payment of members in the so-called Constitutional Council is escalating. What’s happening with ADA?

– Cardano as a brand is supported by a special credit card. The card already has a website with an ordering option and advertises up to 8 percent cashback in ADA. It is also possible to take out stablecoin loans with ADA as collateral. An option to participate in ADA staking has been announced. Behind the card is Wirex, a well-known UK-based crypto finance company. Other cryptocurrencies are also supported, from Bitcoin and Ethereum to XRP (Ripple) and Solana. Whether the crypto community was waiting for yet another credit card remains to be seen

– Maurice de Mauriac, a small watch manufacturer in Switzerland, is presenting a Cardano luxury model. The MDM X Cardano is limited to 99 pieces, costing 9,999 Swiss francs (just over 10,800 euros), and delivery is planned for mid-2026. Anyone who pre-orders the Cardano watch by November 19th will receive 999 ADA (current market value just under 500 euros) as a gift. Whether a fan would want to wear a mechanical watch without an online module is another question.

– Many of the discussions at the Cardano Summit revolve around blockchain solutions for the real world. Digital identities, healthcare, charities, education – the ADA blockchain is already being used in such fields, and the decentralization of the Cardano ecosystem is praised. Artificial intelligence in Cardano is becoming a trending topic

Anyone hoping for a meet-and-greet with Cardano founder Charles Hoskinson in Berlin will be disappointed. Hoskinson did not attend and is attempting to downplay conflicts within the ADA self-governance system by using the X symbol. The background is that several members of the Cardano Constitutional Council are resigning, rendering the body unable to make decisions.

The Cardano Atlantic Council explains its withdrawal by stating that the proposal for delegate compensation failed to gain a majority. ADA was only fully transitioned to self-governance in January via the Upgrade Plonin; now this concept is experiencing its first real crisis.

Conclusion: Cardano is steadily losing favor with investors

Cardano critics are naturally few and far between at the summit in Berlin, where the community is celebrating itself. But a look at the ADA price curve is still warranted: Year-on-year, ADA is treading water at around $0.50, and temporary breakouts to over $1 from last winter have not been confirmed.

The growing skepticism of investors towards Cardano is reflected in the ADA price development; the all-time high of around $3 from September 2021 is a stark reminder of better times. ADA simply cannot gain a foothold in the decentralized finance (DeFi) sector, and approaches to promoting Cardano as a universal blockchain do not promise any direct monetary value. Even after the Cardano Summit, ADA will find itself back down to earth.

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(Featured image by Kanchanara via Unsplash)

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