American telecoms company Dish Network has closed a deal with Cardano developer Input Output in order to build blockchain services.
Cardano creator Charles Hoskinson claims that the underlying business structure of the telecommunications space is “very ossified.” The crypto mogul believes that blockchain is capable of revolutionizing connectivity, and he expects it to become “the default model” of the telecommunications space.
Hoskinson praised Dish for being a trailblazer within their industry, describing the partnership as “super exciting” and “very challenging” at the same time.
Dish’s journey doesn’t start with Cardano. The Fortune 250 company, which reported an annual revenue of $15.49 billion last year, started accepting Bitcoin all the way back in 2014. In August 2018, it also added support for Bitcoin Cash.
Charlie Ergen, the co-founder of the leading satellite TV provider, said that he had been looking into leveraging blockchain for improving the company’s business.
Hoskinson added that the partnership required an “enormous” amount of work:
On average, when compared to where the industry’s at, I think, ultimately, that collaboration is going to be both innovative and also safe and suitable for the customers and regulators in his industry.
As reported by U.Today, Input Output also announced that it had partnered with Chainlink to use its oracle services at the Cardano Summit 2021.
On top of that, Strait Brands, an Australia-based luxury spirits company, will be using Input Output’s authentication solution Atala SCAN for managing its supply chain.
In early July, the Cardano Foundation revealed that it was intending to onboard three Fortune 500 companies by 2024.