The post Cardano Partner with Brazil’s Biggest IT Firm – Can This Drive ADA to $2? appeared first on Coinpedia Fintech News
The world’s largest state-owned IT company is teaming up with Cardano, and this could change how governments use blockchain. Brazil’s Federal Data Processing Service (SERPRO) has partnered with the Cardano Foundation, opening doors for massive blockchain adoption. Will this partnership impact Cardano’s price up to $2?
Cardano Partner With SERPRO
Cardano Foundation, the non-profit organization pushing for Cardano’s adoption, has announced a strategic partnership with SERPRO, Brazil’s leading government technology provider.
SERPRO manages digital solutions for over 90% of the federal administration, meaning this collaboration could introduce blockchain to a massive user base.
This partnership will focus on two main areas. First, it will educate SERPRO’s 8,000 employees through Cardano Academy, offering training and masterclasses on blockchain technology.
Second, Cardano’s network will be integrated into SERPRO’s services, potentially enhancing transparency and efficiency in Brazil’s government operations.
Why This Partnership Is a Big Deal?
SERPRO is responsible for over 750 digital solutions, processes more than 33 billion transactions per year, and manages massive amounts of government data. If Cardano successfully integrates its blockchain into SERPRO’s systems, it could set an example for other countries to follow.
This isn’t Cardano’s first step in Brazil. Back in December 2023, the foundation partnered with Petrobras, the country’s largest petroleum corporation, to provide blockchain education to its employees.
These moves show Cardano’s long-term vision of becoming a key player in the government sector.
ADA’s Price Outlook
Despite this major announcement, Cardano’s ADA token has struggled, dropping 8% in the last 24 hours to $0.88. However, according to analyst Ali Martinez, ADA has been forming a right-angled descending broadening wedge pattern since December 2023.
As per Martinez, if ADA manages to break the $1.14 resistance level, it could trigger a price surge to $2.