Cardano Foundation is sued by former partner
The Cardano Foundation announced today that London-based Z / Yen Group Limited has initiated legal proceedings against the Foundation.
The subject of the debate is an alleged agreement
The Cardano blockchain project was brought to trial by former partner Z / Yen Group Limited, who is based in central London. Cardano has not yet released the key details of the lawsuit, but said the process is about an alleged agreement between the two parties, which expires in July 2017 goes back.
Cardano said he terminated the agreement for various reasons, but Z / Yen probably has some unresolved issues related to the agreement. The claims made by her former partner are completely rejected. The Cardano Foundation, based in Switzerland, said it would not provide any further information as the process is ongoing.
Ende 2017 Cardano chose the Z / Yen Group as a partner for the joint research Blockchain applications. The agreement aimed to support the expansion of the Cardano protocol and its cryptocurrency ADA.
The selected partner focuses on blockchains, cryptocurrencies and artificial intelligence (AI). The company is led by Z / Yen co-founder Professor Michael Mainelli, who became Research Director of the Cardano Foundation. Mainelli said then:
By developing a better understanding of where tools like smart accounting could best be used, we can involve and train key industry stakeholders such as politicians, investors and regulators ensure that the industry is moving in the right direction.
While the two have managed to collaborate on several research projects, the recent dispute proves that both parties will now go their separate ways. The Cardano course did not really respond to this announcement, because it has increased by over ten percent today.
And compared to the international economic turmoil, such “bad news” won't really affect the course.
Proof of text: bitcoinist
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