Weiss Crypto slammed Cardano’s partnership with Confirm

Weiss crypto criticized Cardano’s move to establish a partnership with Confirm. They claimed that there is no difference between bank and crypto.

On 24 August, Cardano project established a partnership with Confirm. This partnership aimed to bring adoption of Cardano at global level and bring more clarity in the transactions and fund of the ADA wallet on every platform.

Related: Cardano network will Implement AML analytics tool

On 26 August Weiss crypto, which is a subsidiary of Weiss Rating. Responded to this partnership and claimed that this move of Cardano project is wrong. 

Weiss crypto claimed that not everyone agrees with this decision to bring an analytics tool. Maybe a few people are supporting this partnership but not every person is supporting it. And finally Weiss crypto called it ” bad move all around”.

According to Weiss crypto, this move of Cardano is making their project closer towards the censorship-prone, politicized, and manipulated network.” 

Weiss crypto also claimed that, if platforms which are decentralized will go for such a centralisation system to bring regulatory framework then it only guarantees your demise.

Vitalik Buterin & Charles Hoskinson come together to explain why this partnership is needed for. Cardano project. Through a video message in the thread, they said that it was necessary to bring adoption which enables compliance with local regulations. 

“…So while the base layer of the system doesn’t care if you’re from the United States or China, Japan, wherever, what you can do is add identity and metadata, and all kinds of other things and those other things give you the ability to be in compliance with your business domain, regulated or otherwise,”

And also in the video message, they claimed that the analytic tool is for business and technical requirements, to make their platform better. 

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