Cardano Foundation CEO Frederik Gregaard took to the main stage at Paris Blockchain Week on Thursday, discussing everything from the foundational principles of Bitcoin to the swift growth of AI and the essential role of decentralized infrastructure.
Ambitions For Blockchains And Cardano
Gregaard began by contemplating the initial vision of Bitcoin and what attracted countless individuals to decentralized technology in the first place. “We contemplated this opportunity that many individuals lack access to financial markets, who do not have access to technology we take for granted, and who are hindered due to the absence of a passport or national identity,” he stated.
He highlighted that the fundamental principle behind Bitcoin was the ability to transfer value without intermediaries and to genuinely own one’s assets. However, he also recognized that the second wave of blockchain, epitomized by Ethereum, transformed the dialogue towards wider capital markets. “Ethereum performed extraordinarily well in essentially disrupting that model,” he noted, yet he warned that traditional financial hierarchies often reinsert themselves. He provided instances of equity requirements and considerable listing fees, remarking that, in numerous ways, “Wall Street is encroaching on us again.”
In light of this context, Gregaard emphasized the global transitions occurring presently, underscoring the significant rise of artificial intelligence. “I genuinely believe the world will be dominated by AI,” he mentioned, presenting a critical question of how best to leverage it to keep people in control. He cautioned that the demand for AI’s “superb user experience” often eclipses concerns regarding energy usage, data authenticity, and transparency.
For him, this is exactly where blockchain can provide powerful solutions, as the trustless computing model and immutable data storage guarantee that information cannot be altered. “When you analyze it now, the concept behind blockchain was essentially two things. We seek blockchain as a trustless computing system, and we desire blockchain as immutable data storage,” he clarified, referencing real-world applications such as a Cardano-based initiative in Eastern Africa, where village-level land registration contributed to diminishing local conflict by transparently charting property ownership.
Gregaard stressed the significance of verifiable data in an age governed by AI-driven analytics and decision-making. He expressed worries about the credibility of information that isn’t traceable to a reliable source, observing that political decisions or international trade agreements could hinge on erroneous or manipulated data. “We are being exposed to elements we cannot corroborate,” he stated, warning that governments might adopt policies “without being provided with the right data.”
He then noted that large language models only heighten these issues since they depend on vast data sets that may or may not be reliable. “It does matter,” he emphasized, contending that aligning AI with on-chain, verified information is the sole method to root these technologies in “what’s the truth.”
Cardano Can Scale Beyond Visa-Levels
Shifting focus to Cardano’s own ecosystem, Gregaard discussed identity solutions and the increasing significance of agentic AI, where machine-driven “agents” communicate based on verified credentials rather than risking data vulnerabilities with centralized systems. “We introduced a wallet that is compatible with the LEI,” he remarked, referring to the Legal Entity Identifier system used in international trade.
He termed the solution open-source and not restricted to Cardano alone, indicating that others could implement it on different blockchains. The principle, he noted, is that we will all possess multiple forms of identities, and these should be managed in a manner that promotes security, privacy, and interoperability. He also pointed out practical applications such as brand protection, carbon credits in Kenya, and decentralized accounting, revealing that the Cardano Foundation itself places its financial statements on-chain. “Why are we undertaking this?” he inquired. “Because we must reach a point where we can genuinely not only trust the data but know that the data reflects the truth.”
Gregaard confronted the critique that public permissionless blockchains cannot scale to accommodate global-level volumes, particularly in finance. “Yes, you can operate Visa and MasterCard on a public permissionless blockchain,” he asserted, presenting a bold declaration that Cardano is capable of achieving it.
“We executed over 90 million transactions in one day, fully secured by 3,000 stake pool operators. So all those claims they’re discussing cannot be accomplished. It can be done.” It was a direct rebuttal to the widespread notion that significant networks like Visa are unattainable for decentralized architectures.
He attributed this to a developing technological stack that has progressed significantly beyond the early phases of permissioned blockchain experiments. According to him, anyone can now leverage a “footprint of innovation” across various sectors on the Cardano blockchain—supply chain, healthcare, data management, real estate—without necessitating entirely new chain architectures.
TODAY:
Frederik Gregaard (@F_Gregaard), CEO of @Cardano_CF, spoke on the main stage at Paris Blockchain Week.
Here’s the full keynote. pic.twitter.com/LcHQTR3BRp
— Cardanians (CRDN) (@Cardanians_io) April 10, 2025
In his final thought experiment, Gregaard challenged the audience to envision a near future where the world’s most valuable enterprises employ only a handful of individuals yet attain trillion-dollar valuations, all while regulators race to establish effective oversight. “We’re not going to achieve self-sovereign identity tomorrow,” he conceded, “but we can create a wallet” that meets many of today’s regulatory and practical needs.
He also posited that increased transparency, particularly on blockchains, would allow stakeholders, shareholders, and citizens to hold large corporations genuinely accountable. “With a large language model on top of this kind of data, you can be the most informed shareholder ever,” he asserted, suggesting that verifiable on-chain data can empower even minor shareholders with significant insights.
At press time, Cardano traded at $0.63.
Featured image from X, chart from TradingView.com
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