EMURGO, the founding entity of the Cardano blockchain, is a relatively uncelebrated arm of the decentralized network. Despite supporting Charles Hoskinsonโs blockchain on every level, EMURGOโs role in the Cardano ecosystem is often taken for granted, especially when compared to Input Output Global (IOHK) and the Cardano Foundation.
Having provided hundreds of millions of dollars in funding for emerging crypto startups in the ADA world, EMURGOโs contribution is often relegated to the creation of Cardano wallets. The official commercial arm of the Cardano blockchain, EMURGOโs influence on the health and growth of the ecosystem cannot be understated.
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What is EMURGO, and how does this forward-thinking company help Cardano provide blockchain solutions to those who need them most?
Table of Contents
What Is EMURGO?
Alongside IOHK and the Cardano Foundation, EMURGO is one of the founding pillars of the Cardano protocol. As a founding pillar, it shoulders the responsibility of nurturing, developing, and supporting commercial opportunities in the Cardano blockchain system.
At its heart, EMURGO is a venture capital firm. While Cardano lays the foundation with its third-generation blockchain, EMURGO helps fund commercial ventures, like dApps, products, and services, driving mass adoption.
With a global presence spanning from the bustling streets of Singapore to the tech hubs of Japan, the USA, and Indonesia, EMURGOโs reach is expected to grow under the leadership of founder and CEO Ken Kodama.
How Is EMURGO Improving the Cardano Ecosystem?
When it comes to expanding Cardanoโs thriving blockchain ecosystem, EMURGO is one of the first names that springs to mind. Whether funding creative startups, championing blockchain solutions in the supply chain industry, or educating the next generation of smart contract developers, EMURGO is always ready to lend a hand.
- Strategic Investments – The firmโs primary focus, EMURGO Ventures invests capital into innovative projects that leverage the Cardano blockchain.
- Education and Empowerment – The EMURGO Academy provides blockchain education to developers looking to build on the Cardano network.
- Global Reach – With offices across continents, EMURGO taps into global insights and ensures Cardano’s solutions are versatile and cater to diverse needs.
- Cardano Products – EMURGO has built several basic Cardano tools and services, like blockchain explorers and digital asset wallets, that can be used by any ADA enthusiast.
EMURGO Initiatives
EMURGOโs fundamental objectives center around supporting and educating the Cardano ecosystem. While this generally comes from providing investment and guidance for new companies, EMURGO has expanded its offering in line with Cardanoโs impressive growth.
EMURGO Ventures
The Cardano ecosystem is fertile ground for creative ideas and disruptive technologies. EMURGO Ventures, the Cardano Protocolโs official commercial arm, helps budding entrepreneurs and founders reach their maximum potential while growing Cardanoโs network effect.
EMURGO has helped fund several popular Cardano-based projects, including Adanian Labs, a Web3 technology studio, and AdaVerse, a Web3 incubator and accelerator.
While these projects are a good place to start, it would be nice to see EMURGO support innovative DeFi protocols by actively onboarding and engaging users.
In September 2022, following the much-anticipated roll-out of the Vasil Hard Fork, EMURGO pledged to invest over $200M USD into the Cardano ecosystem. Of this figure, $100M USD will be directed to Africa-based startups under the EMURGO Africa Initiative.
EMURGO Academy
The EMURGO Academy is a Cardano-native blockchain education platform. It helps budding developers and Cardano enthusiasts learn everything there is to know about the network and start building applications and tools that take advantage of Cardanoโs capabilities.
Since its inception, the EMURGO Academy has helped over 2,100 learners discover the Cardano blockchain, learning everything from blockchain architecture fundamentals to smart contract development. The EMURGO Academy also offers a Blockchain Business Consultancy course, where non-technical students can learn how to incorporate blockchain technology into their existing business models.
EMURGO Africa
African nations like Nigeria host some of the worldโs highest crypto adoption rates. Ripe with potential and promise, Cardano has made significant strides toward supporting and developing the continentโs Web 3 industry.
With a keen eye on fostering development, EMURGO Africa invests in and partners with Africa-centric enterprises, startups, and accelerators. In a bid to cultivate socially impactful solutions on Cardanoโs environmentally sustainable blockchain, EMURGO has set aside $100M in funding for Africa-based blockchain startups.
EMURGO Africa aims to help connect Cardano-based enterprises across the continent. The company has successfully secured 40 partnerships across 11 countries, providing funding, education, and tailored blockchain solutions.
EMURGO Products
Outside of venture funds and educational endeavors, most of the Cardano community knows EMURGO thanks to one simple app, the Yoroi Wallet.
EMURGO also released several other products that havenโt stood the test of time. The Seiza blockchain explorer was discontinued in 2020 due to the team working on “stuff that can be considered more complex.”
Similarly, an open-source code base library called Tangata Manu was also shipped to help 3rd party developers build Cardano wallets. The codebase is still available on Github but hasnโt been updated since January 2020.
Yoroi Wallet
Designed by EMURGO, the Yoroi Wallet is a simple browser extension and mobile app. Yoroi is a cryptocurrency wallet that stores digital assets within the Cardano ecosystem.
Yoroi proved to be a popular choice amongst crypto enthusiasts in Cardanoโs early days. The platform features a clean and basic UI that is easy to understand, making onboarding new users a breeze.
Despite this, the Yoroi Wallet does not integrate well with Cardano dApps, like decentralized exchanges or Cardano NFT marketplaces, meaning it has lost some users to more compatible alternatives.
Cardano Spot
Cardano Spot is a social media platform the Cardano community can call home. ADA enthusiasts use Cardano Spot to share educational content, market updates, and Cardano ecosystem announcements.
USDA
USDA is a proposed stablecoin pegged to the USD Dollar. Developed by EMURGO and Anzens, USDA aims to unlock greater flexibility and utility within Cardano DeFi.
The project has faced plenty of regulatory obstacles and has struggled to get off the ground. Meanwhile, DJED has established itself as the de-facto stablecoin of the Cardano network.
EMURGO Pros and Cons
Within Cardanoโs bustling ecosystem, EMURGO plays a significant role. Like any foundational pillar, it comes with strengths and challenges. Let’s explore EMURGOโs pros and cons.
Pros
- Pioneering Role – As a founding entity of the Cardano protocol, EMURGO theoretically carries significant influence in the networkโs commercial growth and adoption.
- Global Network – With offices spanning from the tech hubs of Asia to the promising landscapes of Africa, EMURGO’s global presence ensures diversified insights and a broadened reach.
- Strategic Investments – Through EMURGO Ventures, the organization supports innovative Web3 projects that expand Cardanoโs utility.
- Educational Pursuits – The EMURGO Academy equips learners with the tools and knowledge to build meaningful products and services on the Cardano blockchain.
Cons
- Underwhelming Products – Considering that EMURGO is one of the founding pillars of the Cardano ecosystem, itโs disappointing that their official products, like Yoroi and USDA, are outclassed by community-built tools.
- Questionable Impact – The biggest dApps in the Cardano Ecosystem are community-led protocols that received little to no funding from EMURGO. Meanwhile, EMURGO-backed projects, such as Fourier Labs and Mazzuma, are relatively unknown within the crypto space.
- Competitive Landscape – The blockchain industry is fiercely competitive, with dozens of Layer-One blockchains vying for market dominance. If Cardano cannot keep up, EMURGO will struggle to find worthwhile startups to support.
On the Flipside
- Considering that EMURGO plays such a key role in the Cardano ecosystem, it would be nice to see them more involved with current on-chain platforms that are actively driving the growth and adoption of the network.
Why This Matters
As the commercial arm of the Cardano protocol, EMURGO has the power and influence to help emerging projects succeed. Every Cardano fan would benefit from following EMURGOโs efforts closely to stay up to date on all things Cardano.
FAQs
EMURGOโs official website is found by navigating to emurgo.io.
EMURGO is the official commercial arm of the Cardano protocol. The companyโs main responsibility is to provide funding, guidance, and education to businesses launching projects on the Cardano blockchain.
EMURGOโs Headquarters are based in Singapore; however, the company has offices worldwide.
EMURGO was founded by Ken Kodama in 2017. Kodama is also the CEO.ย