In its bid to add seasoned hands to pilot the affairs of the Cardano blockchain network, the Cardano Foundation has confirmed the addition of Fernando Luis Varquez Cao as a new member of its board of directors.
The new board member brings a wealth of experience spanning 20 years across the open-source software environment, telecommunications, and digital assets, among others. Fernando has extensive knowledge of the Asian market, having enjoyed a successful career in Japan.
Fernando’s coming onto the Cardano Foundation’s board is a great move due to his expertise. The board has been sourcing for capable hands to help it navigate its way in the spheres of regulation, open-source technology, governance, and the capital markets.
Fernando has been a critical player in the open-source software development ecosystem, with two decades as a Linux kernel developer under his belt. His move to the corporate world saw him spend most of his life in Japan before taking other positions at top global corporations in the financial sector across Europe and Asia.
Cardano Foundation’s Core Role
The Foundation is registered as a non-profit organization to be the custodian of the Cardano blockchain network and oversee the operational, technical, and business aspects of the Cardano blockchain. The Foundation is presided over by a board of directors who play critical roles in the Foundation’s work.
The foundation board consists of a three-person team, but with the appointment of Fernando, it has become a four-person strong team, with each having their diverse expertise to shape the direction of the board.
Fernando is viewed as a distinguished professional with a track record of adding another service delivery dimension to the Foundation’s board. He has played a crucial role in building highly efficient teams wherever he works and is an invaluable addition to the board.
His appointment came when Cardano was looking to scale up its core concern to improve critical infrastructures and the market segment of its enterprise.
The most important department of the Cardano Foundation is the Enterprise Technology department, which plays a vital role in the workings of the Foundation. Enterprise Technology has three divisions to oversee its functions: Enterprise Technology, Strategic Partnerships and Programs, and Financial Institutions.
All the mentioned units of enterprise technology have their respective roles to play, with each having the required freedom to handle their affairs.
The vision of the Foundation
According to the chairperson of the Cardano Foundation, Jillian MacNab, the central theme of the Foundation is to decentralize assets risk-free for both organizations and regulators and to help those at the operational level create and deliver global best results.
The Foundation has ample experts from diverse industries to bank on to provide guidance, advice, and expert recommendations for any projects by ensuring that the Foundation is strategically positioned. Decision-makers are looking to stretch the boundaries of discoveries for decentralized technology and innovation to make Cardano the leader in decentralized market structures and performance.