Major cryptocurrency investors from all around the world attended this year's Decipher conference in Dubai as it continues to establish itself as a significant crypto hub.
The Algorand Foundation presented its comprehensive plans during the conference for how it intends to keep developing the Algorand blockchain and giving its native currency ALGO further utility.
The blockchain project currently has expansion plans for the Web 3.0 and DeFi industries, both of which have been seen as having a strong potential for development.
This involves developing stable currency and even developing digital identity verification services utilizing the blockchain.
Despite the protracted crypto bad market, The Algorand Foundation has consistently kept adding value without drawing much notice and has been concentrating on organic development.
Algorand founder Silvio Micali and Algorand Foundation CEO Staci Warden were featured speakers representing Algorand, alongside over 130 industry leaders, including the likes of Napster CEO Jon Vlassopulos, Quantum Temple Founder Linda Adami, and Arrington Capital Founder Michael Arrington.
Key takeaways from the Decipher 2022 event included a number of major announcements surrounding the continuously expanding adoption of Algorand’s sustainable and secure Layer-1 technology. Major announcements included:
New project Algorand Ventures was introduced by Ryan Terribilini, Alogrand Foundation’s very own Head of Ecosystem Funding, which looks to provide funding and ongoing support to the top builders and investors in the Algorand ecosystem.
The launch of the newly found platform Kokua, as announced by St. Vincent De Paul Disaster Services aims to support and provide relief funding built by AID:Tech and being leveraged by the Algorand blockchain. The app is to be released in aid of the deadly 2021 winter Tennessee tornadoes.
The conference also disclosed that it was continuing to establish crucial alliances, such as one with the top esports performance company Fnatic.
This was the outcome of a sizable investment from Hivemind Capital, and it is anticipated that the funds would support a number of other projects to further develop the Algorand ecosystem.
The company is also focused on continuing to grow its adoption in other regions in the world such as India where experts believe that there is a huge marketplace to take advantage of.
Anil Kakani has been named the Algorand Foundation's India Country Head. In this role, Anil will oversee initiatives to boost adoption in the nation and, ideally, forge alliances with regional cryptocurrency companies.
In the end, Algorand has shown that it is just interested in developing an environment that everyone can utilize, and that its goal will largely remain the same until 2023 and beyond.