At first glance it may seem a little contradictory that being an ERC-20 token at present we refer to Paribus as being powered by Cardano, however, our project is far more than simply a token. Since we first started to imagine how we wanted to help develop the DeFi space we were drawn to Cardano due to the unique combination of its ethics, the vision of its founder Charles Hoskinson, and its adherence to the initial principles of Satoshi Nakamoto.

“We have taken a decision to build on Cardano since inception. We are committed and dedicated to honoring this promise. We truly believe Cardano has the trademarks of a truly decentralized blockchain that adheres to Satoshi’s initial principles and philosophy on why cryptocurrencies were founded. This is why we will migrate at the first opportunity we get. Milkomeda and Cardano do by default offer cross-chain abilities thus PBX can and will be available on many chains.” — Deniz, CEO Paribus

Being powered by Cardano means much more than simply being on the Cardano blockchain though, for us it means to be inspired by the ethos and values of Cardano and its community, finding that they strike a harmony and resonance with our own.

As Wilson, COO of Paribus explains, “The goal of Cardano and the vision of its founder are some of the key aspects that initially drew us into learning more about their blockchain. After gaining a more in-depth knowledge of how Cardano operates, the advantages are very obvious to us. In terms of speed and cost, Cardano will change the way people think about transferring digital currencies. The vast range of capabilities and projects being built is also an exciting thing to be a part of. The way they are expanding into developing countries and making a difference to those who truly need the boost is an excellent endeavor and we’re pleased to be included and participating in this type of community building.”

Despite much talk of interoperability within the cryptocurrency sphere, there’s still a predominance of maximalist views around which blockchain is the best. In reality, the community as a whole becomes much greater than the sum of its parts when it works together which is why we’re excited to start our journey on ERC-20, utilize sidechains, and ultimately transition across to a Cardano native token. Each step helps us move faster and closer to our final vision of Paribus, a truly decentralized, fully secure Dapp available to everyone.

Each step will bring its own unique challenges and opportunities for growth as Simon, CTO of Paribus describes, “There will undoubtedly be obstacles in our journey to migrate to Cardano. Although it’s nearly impossible to prepare for every possibility, we are continuing to brainstorm these situations and working with our development team to get ahead of them. We are surrounding ourselves with the very best people in the space in regards to advisors and gurus in Cardano too. The guidance and knowledge we have gathered will be a shining light to help us move forward as seamlessly as possible.”

The advice and support we receive from others come from all levels of the Cardano ecosystem, as Deniz explains, “We know that many top executives in Cardano are well aware of Paribus. Even Charles himself knows what we are doing and has been in contact with our team indirectly. We’re looking forward to growing that relationship and showing them how vital Paribus will be to the Cardano ecosystem”

It can be said that decentralized finance is at the very heart of Satoshi’s vision for blockchain technology and although 2020 was heralded as the year of DeFi, in our view it’s only just getting started. We see 2022 and beyond as being the pivotal time in history where DeFi really starts to take shape and significantly change the world.

DeFi and in general cryptocurrencies opened the financial world to everyone. As it’s been said many times by many reputable individuals across the globe, we too, believe blockchain is a truly revolutionary technology. DeFi has added fuel to the fire of change and has broadened the possibilities to earn, generate and spend cryptocurrencies. This will only grow and get bigger over the next decade. Imagine a world where an individual can generate NFTs or generate passive income and use these earnings to fund their real-world ambitions without ever having to step a foot into a bank. The possibilities are endless. As DeFi revolutionized cryptocurrencies, we believe Paribus will revolutionize the connotation of ownership and how to leverage this to your advantage as an end-user. Change is coming, it’s an uphill battle for those attempting to block a decentralized future.

But what of the Metaverse you may ask. Our outlook for the coming year is best described by Deniz, “Personally I can see 2022 being the year of a metaverse expansion that starts a major shift in how people across the world communicate and think about connecting. We do believe NFTs will mature over the next twelve months drastically and we will start to see products and NFTs that start to represent the physical world like never before. As more value is locked into these assets the demand to unlock that liquidity will grow exponentially.”

What the past two years have taught us is that whatever challenges we may face collectively our technology develops to adapt and overcome them. Remote working and learning are now commonplace and as we move more into the digital world we need the tools to transition seamlessly between them. At Paribus we believe that truly decentralized financial tools should be available to everyone, everywhere, and that wherever value is stored it should be available to leveraged. That’s why we’re excited to be powered by Cardano, empowered by our community, and inspired by the opportunities that lay ahead.