The CEO of IOHK, the company behind Cardano, says his team is working on multiple behind-the-scenes projects focusing on new areas, possibly including proof-of-work, the Internet of Things and privacy.
During a recent ask-me-anything session on YouTube, Hoskinson says the company’s new developments need a “well-defined scope” so they don’t cannibalize IOHK’s other projects, namely the decentralized public blockchain platform Cardano.
Says the CEO,
“There are other verticals – the proof-of-work space, there’s the privacy space, there’s the IoT space, there’s the social media space, and each and every one of these has business and technical requirements which may be beyond the scope of what Cardano can offer in its current iteration. And a special purpose product may make sense in that respect.
And we do do some things – and we’ll announce those at a later date – that are chasing certain verticals that Cardano can’t cover right now and should not cover in its initial scope. If these happen to be open ledgers, then we’ll see if we can find a mechanism that can create maximum benefit for everybody.”
Hoskinson also offered an update on Cardano’s collaboration with New Balance partnership.
In October, the footwear giant rolled out a pilot program developed by IOHK designed to track the authenticity of one of their newest brands of basketball shoes.
Although the proof of concept was a success, Hoskinson says the outcome has yet to be decided and it’s up to New Balance to decide whether the company wants to launch a full scale roll out.