Cardano Foundation announced today that think tank London-based Z/Yen Group Limited has initiated legal proceedings against it.
The Subject of Debate Is an Alleged Agreement
Blockchain project Cardano, the issuer of ADA token, has been dragged into court by former partner Z/Yen Group Limited, which is located in the city of London. Cardano didn’t disclose the most relevant details of the dispute, but it explained that the proceedings revolve around an alleged agreement between the two, which dates back to July 2017.
Cardano said that it terminated the agreement for various reasons, but Z/Yen probably has some unsolved issues related to the deal. The ADA issuer fully rejects the claims raised by its former partner.
The Swiss-based foundation said that it wouldn’t provide more information since the judiciary process is ongoing.
Z/Yen Was Cardano’s Research Partner
At the end of 2017, Cardano selected Z/Yen Group’s Distributed Futures practice as a partner to jointly carry out research on blockchain applications. The deal aimed to help the expansion of the Cardano Protocol and its ADA.
Distributed Futures is focusing on blockchain, cryptocurrencies and artificial intelligence (AI). The unit is led by Z/Yen co-founder Professor Michael Mainelli, who became Cardano Foundation’s Director of Research. Mainelli said back then:
By developing a better understanding of where tools such as smart ledgers could be best applied, we can engage and educate key industry stakeholders such as policy makers, investors and regulators to ensure the industry is advancing in the right direction.
While the two have managed to cooperate on several research projects, the recent dispute proves that they have now taken separate paths.
During the last 24 hours, Cardano’s ADA has declined by almost 11%, trading at $0.238. However, the price drop is caused by the general market turmoil amid the coronavirus pandemic, which negatively most asset classes.
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EMURGO, the official commercial arm of Cardano (ADA) has set up a strategic blockchain taskforce with Uzbekistan’s National Agency of Project Management (NAPM), the KOBEA group, a technology consulting company, and Infinity Blockchain Holdings, an investment firm.
EMURGO, the official commercial arm of Cardano blockchain, today announced the establishment of a blockchain task force with the National Agency of Project Management (NAPM) under the government of the Republic of Uzbekistan, and alongside advisors KOBEA Group & Infinity Blockchain Holdings.
Официальное коммерческое подразделение Cardano EMURGO Group объявило о создании «целевой группы по блокчейну» совместно с Национальным агентством проектного управления (НАПУ) Узбекистана, Kobea Group и Infinity Blockchain Holdings.
Cardano is currently on the road to Shelley, an upgrade that will introduce staking for the first time via its Oroborous Genesis consensus mechanism. IOHK, Cardano’s development group, has been hard at work on the upgrade.
According to a report by Finance Magnets, published on December 5, 2018, Ripple (XRP), NEM, Fetch. AI, and Cardano (ADA) have come together to form a lobbying group in Europe. The aim of the group will be to “create a unified voice for the blockchain industry at the European level.
Charles Hoskinson is best known today as a co-founder of both Ethereum and IOHK, where he leads the research, design and development of Cardano. But before these projects, there was Bitcoin.
IOHK, the development group responsible for Cardano, has published a paper detailing a new type of sidechain. This sidechain will enable blockchains to interact and communicate with each other in a trustless manner that features mathematically-proven security features.
Разработчики криптовалютного кошелька Infinito Wallet объявили о добавлении в мобильный клиент криптовалюты Cardano (ADA). 🌟 Welcome $ADA to our universal home of coins and tokens. Infinito Wallet version 1.
Mostly the analysis and recommendations concluded by Weiss Ratings are reachable only by a specific number of individuals or closed group, but almost a week ago during the bearish market it predicted a possible 10X price raise of various coins.
IronX, a cryptocurrency exchange established in June 2018 by the IronFX Group and EmurgoHK, the founders of the Cardano (ADA) distributed ledger technology (DLT) project, has received the approval of the Estonian Financial Intelligence Unit (FIU), to conduct business in the region as a fully regulated cryptocurrency trading venue.
Криптовалютная биржа IronX — новое совместное предприятие глобального онлайн-брокера IronFX Group и EmurgoHK, создателя блокчейна Cardano, объявила о том, что получила лицензию от Эстонского ведомства финансовой разведки (FIU).
Research firm Satis Group has released a new report claiming that Bitcoin (BTC) will hit $144,000 in ten years. Decade-Long Predictions The group’s evaluations are based on real-world data researched by Sherwin Dowlat and Michael Hodapp.
Cardano's ADA Coin to be Used as Base Token for IronFX The digital currency is going to be used to give token holders access to several different goods and services. Cardano Blockchain technology, based out of Hong Kong was founded by the EmurgoHK Group.
Лондонская аналитическая компания Z/Yen подала в суд на Cardano Foundation, пишет Coindesk. Зарегистрированный в Швейцарии Cardano Foundation, который поддерживает развитие криптовалюты Cardano (ADA), подтвердил в своем блоге подачу иска Z/Yen.
