• Project Catalyst introduces the first Catalyst Natives.
• Catalyst Natives will allow firms to leverage the Cardano innovation engine.

Cardano’s community-driven innovation engine — Project Catalyst introduces the first Catalyst Natives pilot to give any organization the ability to leverage the power of the crowd to solve business problems and outsource the implementation of solutions.

According to the team, Catalyst Natives is an opportunity for firms to gain access to a trove of ideas and those with the skills to realize them. Besides, organizations can discuss specific points that they either do not have the resources to resolve or do not have a solution for and outsource them as Catalyst challenges.

The team explains that Catalyst Natives extends access to Project Catalyst functionality like the Cardano native tokens feature and expands the variety of digital assets on the Cardano ecosystem.

Driving deeper, Catalyst Natives will let organizations outside the Cardano/Catalyst blockchain present challenges and provide incentives and rewards to those who meet the challenge with their proposed innovations.

In addition, the firm said that they are launching a series of pilots in collaboration with COTI — an enterprise-grade fintech platform that empowers organizations to create their payment solutions and digitize any currency.

Shahaf Bar-Geffen the CEO of COTI also expressed himself about the partnership. He said,

We are very excited to be the first company to launch a Catalyst Native fund. As close partners, it is only natural for COTI, IOHK, and Cardano Foundation to collaborate once again to allow teams from all over the world to take part in the ADA Pay development and participate in our challenge.

 

Adding to this, Bar-Geffen noted that finding new innovative ways to enrich ADA Pay will value both Cardano and COTI communities and also the entire world by allowing a variety of merchants to accept ADA as a payment method.