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Things to Know About Home Loans

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Home loans in Australia are not necessarily used to buy a house first. Think of the sentence – the home loans in Australia. They are not willing to buy the house in Australia, they are only loans in Australia, which means that everything you want to make your house, you can borrow money in the form of a ready to achieve it. However, there are several factors that should be taken into account when thinking about secured loans in Australia. Things like the amortization period, interest rates and whether it should be fixed or variable can have a significant impact on the way home loans in Australia concern you. Therefore, you need to think carefully about all these things before committing to a particular product.

When thinking about secured loans in Australia, you should think about how much money you actually need. You could get enormous credit, of course, but why when you do not pay that back anyway. Keep in mind, and the amount of home loans in Australia in fact you is not the amount you must repay. Interest payments means you will repay more than you borrowed, it is important to examine exactly how much you need to borrow, not how much you want to have in your bank account.

Interest rates associated with loans in Australia can vary enormously and I am not speaking only in accordance with economic fluctuations. You can get fixed rate loans and variable rate ones. Fixed interest rates remain the same, either for the duration of the repayment period of loan or some pre-specified time, and this may be more or horrible. If the economy really booms, interest rates can rise rapidly and sharply, but a fixed interest rate protects you against this. However, if the economy slides generally fall in interest rates and you could end up having to pay much more than everyone else.

A variable interest rate is even more subject to the vagaries of the economy. If the interest rate increases, your payments. If the interest rate decreases, so that your payments. There is no way of knowing what the economy will do in advance. Ultimately, once you have a house loan, you are taken to your choice, if you had better make sure it is one you can live with. Other costs associated with home loans in Australia are the charges payable by you during the process of setting up the loan in the first place. These can be very strong and very frustrating because there is money out of your pocket on behalf of Australia, but home loans that is not paying anything off. However, these fees are a fact of Australia and loans, just to cope. When looking at secured loans Australia, make sure you know exactly what you are getting and how much it will cost you. This should reduce the possibility of future surprises.

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Alternative Commercial Mortgage Lenders – Hedge Funds & Private Equity

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Hedge funds and private equity firms are investment companies set up by Wall Street investment banks and funded by wealthy individuals and cash rich corporate entities. Unlike standard, publicly traded mutual funds, hedge funds are largely unregulated and have much more leeway in their investment choices. Many of these funds have recognized the opportunity that’s emerged in commercial real estate lending, and have stepped in to fill the funding gap. The money managers in charge of these massive pools of capital are savvy investing pros, they know a good deal when they see it and can be very nimble. Hedge funds and private equity funds are not afraid of risk; in fact they thrive on it. If they like a deal, they make decisions quickly and can close loan or equity financing in just days.

There are many private funds that specialize in commercial real estate investing or have a commercial mortgage lending division. They are cash rich and actively seeking quality deals to fund. They can be an excellent alternative to banks and other traditional lenders.

But, be aware, they are very professional and highly sophisticated. Do not approach hedge funds with shoddy or incomplete packages. They’re pros and work exclusively with other pros.

Hedge fund and private equity people have a Wall Street mentality; they are traders art heart. When they look at a deal they want to be able to make decisions quickly.

When approaching a fund you’ll want to have a complete, well documented package ready to show them at a moments notice, but don’t give it to them all at once. Having worked for Wall Street firms for more than 20 years, I’ve determined that the best way to approach money mangers is with a concise, well written 1 page deal summary.

Sum-up the selling points of your deal on a single sheet of paper, stressing the profit potential, the investors level of experience, the strength of the location and some of the other strong points of the project. They’ll appreciate the fact that you respected their time by being brief. If they like what they see they will ask for more. Give them precisely what they ask for; don’t bog them down with documentation until they tell you they want to see it. Sell them the big story before you try to sell them the details.

If you want to secure funding from a big private equity shop or a hedge fund, I’d strongly suggest you utilize the services of a professional intermediary with Wall Street experience. They can speak the language of fund managers and know exactly what’s important to highlight about a particular deal. These funds tend to operate like private clubs, it helps a-lot if you have an “in”. If you are fortunate enough to develop a relationship with this unique type of lender, you will enjoy a seemingly endless source of capital.

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Skip the Allowance and Employ Your Kid

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Do you own investment real estate or a business? Have you been considering buying a rental property or starting a business? Have kids going to college in a few years? If you already plan on your kids going to college, it’s never too late to start planning effective and efficient ways to increase savings, lower your taxes and improve your odds for receiving student financial aid.

Let’s say you already give your children an allowance. You’re already paying out of pocket and not getting any tax benefit. With a few changes you can turn that cash outflow into a tax deductible expense that can even help your kids save for college. Consider hiring them to work in your business or on the rental property you own.

By paying them a reasonable wage for services like landscaping, cleaning, painting, shoveling snow or doing office administrative work like filing, stuffing envelopes or printing marketing flyers, you have an additional deductible expense which lowers the net income or increases the net loss of your business or property.

And for children earning income in the family business, there is no requirement for payroll taxes. And if you keep the amount of “earned” income below certain limits, you won’t be at risk of paying any “kiddie” tax either. (“Kiddie” tax limits adjust for inflation each year). In effect, you have shifted income from a taxpayer with a higher tax rate to a low- or no-income tax paying child.

Now get your child to open a Roth IRA with the money you pay them and they have the added benefit of tax-free saving for college since Roth IRAs can be tapped for college tuition without paying a penalty as long as the Roth is open for at least five years (restrictions apply).

By reducing your income, you can also reduce your Expected Family Contribution (EFC) which is the critical number used to determine the amount and kind of student financial aid your child can get for college. The EFC is calculated using a number of things including the amount and type of parental assets as well as reported income. EFC is recalculated each time a financial aid form is submitted and is based on the assets and income from the year before.

So to improve your odds for financial aid, one strategy is to lower your reported income. By employing your child to lower your business or rental property income, you may be able to lower your EFC and improve the amount of aid your child receives.

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The American Education Dream is Slipping Away

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There was a time when each American generation thought that the next generation would do better than themselves. A good college education would lead to employment in a company for thirty years. The dream of an American education is slipping away due to the rising cost of post-secondary education. Now it seems that a college education does not guarantee sufficient income. Some college graduates are returning home because they cannot afford student loans and the cost of living.

Students who have to work to pay for college are finding it difficult to keep pace with the cost of living. It is not uncommon to have a book cost $100.00 or more. Students do not get much in return for selling their book back to the bookstore. The cost of room and board is rising steadily as the price for food, electric and gas continue to increase. The recent changes in minimum wage also lag behind the typical living expenses. Students are facing financial challenges outside of the classroom that are causing them to sit out for a semester or two.

The American Dream is also slipping in the K12 systems throughout the country. Too few students are prepared to function in a world that is filled with computer technology. Students need exposure to technology early. Some say that analyzing the changes in the American Dream by looking at elementary school is not appropriate. The country needs to take a long term look at how each citizen is prepared for future employment demands. The types of jobs that K12 students must fill will require different types of abilities which must be an integral part of their current education.

There is a sea of changes happening in the financial markets that provided families with funding to pay for K12 education and college. Individuals who have a decent income are finding it more difficult to obtain a loan with a good interest rate. It is putting a greater pressure on families to save more money. Unfortunately, saving money can be difficult when a couple is living in a major city. The inability to obtain fair interest rates may force students to take out loans with higher interest rates that will last 30 years.

People all over the world still come to the United States with the expectation of the American dream. The dream that they can start new lives and have greater freedom continues to draw them to this country. They understand that having access to education will increase their children’s employability. It’s important that the country uses the talents of every citizen that is here. America needs to prepare for an increasing diversity in the workforce of the 21st century.

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Nevada’s Goldfield Hotel Said to Be Portal to the Other Side

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After gold was discovered on nearby Columbia Mountain in 1902, the town of Goldfield, NV ranked as one of the biggest and brightest mining towns in the west. In its boom year of 1906, the town’s mines produced $11 million in gold. A year later in 1907, the mines were generating close to $10,000.00 a day.

The earthquake-proof, four story, 154-room Goldfield Hotel was built on top of an abandoned gold mine in 1908 for $500,000.00. Being the finest lodging between Denver and San Francisco, the hotel was known as “The Gem in the Desert.”

When it opened in 1908, the hotel boasted an Otis elevator then considered the most modern lift of its kind West of the Mississippi. The Goldfield Hotel’s crystal chandeliers, elegant, mahogany-trimmed lobby with black leather upholstery, gold leaf ceilings and gilded columns rivaled the best hotels in San Francisco.

In an era when few homes or businesses had telephones or carpets, the extravagant hotel featured a sophisticated switchboard and a telephone in every guestroom. Meals were “exquisite European cuisine,” featuring oysters, quail and squid. Patrons came for dinner attired in formal clothing – black tie and tails and ball gowns

Once the largest city in Nevada, Goldfield was connected to the rest of the United States by five railroads and with Goldfield’s mines producing more than $10,000.00 a day at their peak, the town’s five banks thrived. Goldfield even had several mining stock exchanges and three newspapers. As the town boomed, its leaders were considering bringing in a trolley to run through downtown.

But, as the mines bled dry, the city lost its allure and the once splendid Goldfield Hotel ceased operation in the 1920’s. During WW II, the military took it over and added a few improvements that included a grill in order to house Army-Air Force wives whose husbands were stationed and training in the nearby remote desert.

At the end of the War, the Goldfield Hotel was once again abandoned and boarded up. Then in the 1980’s, a well-to-do new owner began to pour millions of dollars into modernizing the hotel. His dream to open the former “Gem in the Desert” in all its original splendor went broke before completion. He lost ownership to back property taxes. Vandals carried off most of the newly installed bathroom and light fixtures, eventually taking all but the bare walls.

Today the town of Goldfield is home to fewer than 300 residents, although remains the seat of Esmeralda County, which at fewer than 1,000 residents, is Nevada’s most sparsely populated county. There is no gas station, no bank, no grocery store and much less a newspaper, a far cry from when the city was known as the “Queen of Camps,” for its more than 25, 000 residents.

The Forlorn Elizabeth Haunts

With its glorious past, the ill-fated hotel remains the most prominent symbol of Goldfield’s former glory. But contributing to its ghostlike mood is the fact much of the original luxurious woodwork has been destroyed by vandals. All of the old fixtures stripped away through the years by modern day gold seekers and sold.

Before the hotel was privately purchased at auction for back taxes in August 2003, the Goldfield Historical Society opened the hotel for special “ghost” tours several times a year. Bringing famed as one of the “Scariest Places on Earth,” when the Fox network filmed an episode for Halloween by the same name that aired in October 2001.

During filming members of the crew reportedly observed a ghostly presence in the halls. Feeling unsettled, one crewmember left, refusing to go back inside. Later orbs (foggy ghostlike objects) were seen in several of the photographs taken inside, including my own photographs.

Since about 1910, room 109 has been considered haunted. Legend has it, that this room is haunted by a prostitute named Elizabeth, whom while pregnant was chained to the radiator in the room by the original hotel’s owner George Winfield.

Winfield was so angered when he discovered Elizabeth was pregnant; he denied her freedom to leave. Once her child was born, it was torn from her arms and discarded. Thrown into the cute of the abandoned gold mine over which the hotel was built.

With the disposal of Elizabeth’s child, Winfield left the young woman to die and for days, she cried out for mercy. Rescue never came, she found herself alone and abandoned. Fearing Winfield’s authority, hotel employees were afraid to come to Elizabeth’s rescue and hotel guests could not hear her because of the isolation of the room and the thickness of the walls.

Psychics that have visited room 109, say Elizabeth was either left to die there or murdered soon afterwards. Her spirit is trapped within the modest room that looks out onto a brick side wall of the hotel. On dark forlorn nights, the infant is heard crying by passerby and nearby residents.

On the first floor, George Winfield’s presence has been felt near the lobby staircase. The smell of cigar smoke and ashes have been found periodically by people inspecting the hotel and once, fresh ashes were discovered by an electrical worker within a fuse box that had not been opened in more than 50 years. Ghost hunters on the third floor have also detected high psychic energy.

Many that enter room 109 find it colder than the other rooms and feel a presence in the room. Discoloration from age on the wall where the radiator stands appears to have the outline of a human form. Cameras have been known to malfunction while inside this room.

Other ghosts have reportedly been observed in the halls and on the lobby staircase. Doors sometimes slam and mysterious odors linger. Clairvoyants who have come to examine the building, say the Goldfield Hotel is among several portals or gateways to the otherworldly.

During the annual Esmeralda County land auction in August 2003, the Goldfield Hotel was sold for $360,000. The new owner was said to have plans to refurbish the bottom two floors of the four-story hotel and open them to the public. To date, the hotel remains empty and boarded.

Goldfield is located hallway between Las Vegas and Reno, Nevada on U.S. highway 95.

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How To Buy Furniture With Various Credit Options

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As necessity is mother of the invention, many look for opportunities in times of crisis. There will be some solution for every problem. People all over the world are working to finance their needs. People who are in dire need of money look for those who can make their work easier. Coming to the point, buying something costly needs money. So explore various options and arrive at a conclusion.

After the sub-prime crisis of 2008, industries took some years to get out of that shock. Real-estate and furniture business often go in hand in hand. The furniture industry received set back in that period. People felt a bit wary about the credit card system. But after signs of recovery, shopping malls and online sites witnessed more sales over the years. Many of the people can’t afford high-end furniture. But, one can find many options for financing the furniture. Whether it is online or brick mortar store, look for a credit option.

To clear the air, I will be discussing a few popular options here.

Linking Credit cards

Many sites and shopping centers provide this service to engage their customers. Every month the customer due got automatically deducted from the card. Though it comes with an extra cost, it is a simple and easy option provided everything goes fine.

Retailer Financing

The name says it all. Due to competition from online and offline businesses, some retailers and e-commerce sites are experimenting this option. They are offering good options in terms of repayment. And this option can be bait in some cases. So go through all the details carefully. If there is confusion about the volatility in the interest rate, leave this option.

Payday loans

These are a kind of short-term loans. Agencies providing such products charge exorbitant rates of interest. So while choosing this option, prepare for the next day.

Financing agencies

These are third parties which issue their own credit cards and debit cards to purchase. Now many financing agencies like Quickspark and Synchrony are coming with shopper-friendly financial products. They also help businesses to grow in multifold given the rise in credit purchases. The majority of purchases are done in this method.

Long-term products- For example, if the price of the sofa is 200$, with the long-term financing, the price of the product soars. It can even cost 400$ at times. So calculate everything related to the price and make a decision.

Financing should be beneficial to both customers and business organizations. The customers should calculate the risk. Customers with zero knowledge on this area can get entangled in many problems. It sometimes can be legally problematic besides confiscating properties.

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The Right Mortgage Option for Buying a Home

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Things that can affect which type of mortgage option is right depends greatly on the home buyer. There are different types of low down payment and no down payment mortgages. Some homes loans are best suited for specific types of homes. Distressed homes, for instance are best matched with an FHA 203k renovation loan. This type of home loan has funds for repairs structured into it.

Of all the mortgage options available, fixed rate loans are the safest. Back in the days of subprime lending by predatory lenders, many borrowers fell prey to overwhelming debt. A fixed rate home loan is more secure for many home buyers; there’s no confusion about monthly payments and interest.

Compared to an ARM, it’s much easier to calculate a fixed rate mortgage too. The most familiar of these is the 30-year conventional. Home buyers usually make a 10% – 20% down payment with a fixed interest rate. FHA loan products have a 3.5% deposit.

Conventional loans have a lender insurance premium when less than 20% is deposited. This premium called PMI, or private mortgage insurance, protects lenders in case of borrower default. If the loan-to-value reaches 80%, PMI can be dismissed. Buying at lower rates enables buyers to make extra principal payments. This means PMI can be dismissed sooner rather than later.

For some home-buyers a 15-year or bi-weekly fixed rate loan is more attractive. These debts are paid off much faster than 30-year conventional mortgages.

An ARM, or adjustable rate mortgage, can be a useful product for some home buyers. This type of loan is best for buyers when interest rates are low. What borrowers must consider is the length of time they intend to stay in the home. Borrowers benefit if they are going to stay only a few years, sell the property and move before rates rise. If a borrower can pay the mortgage off before rates rise, that’s even better.

ARM’s also have fixed rates, but harder to understand. There is a specific rate which, as interest rates rise and fall, remains the same. As rates go up and down, a percent is added or subtracted but subject to caps. These caps dictate the maximum and lowest rates you can expect. Make sure you understand the loan terms on an ARM.

Buyers should spend time calculating mortgage options with different down payments and interest rates. This helps them to see how the expense of carrying a mortgage will impact their finances.

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Home Loan – The Best Option For Our Basic Need

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A nice home to stay is what every body may desire for but is everybody able to fulfill this aspiration is questionable. In India majority of the people belong to middle income group and to buy a house out of their bank account may just be impossible for them. Even though the middle-class salaries are rising, the inflation in India is balancing on the increase and people are finding it hard to improve on their savings. So under such a situation an individual can only look for finance options to fulfill even his basic needs.

A house to stay is just one of the basic requirements of a person but investment in the same in not everybody’s cup of tea. Therefore to overcome such problem Indian banks have introduced home loans. Home loan in India provides funds to an individual who wants to purchase a house. These loans provide anytime availability of cash for buying a house.

Housing loan is the best option on which we can rely to complete our need for a house. Home loans are easily available in the market and there are many banks and housing finance companies that can extend you a loan at affordable interest rate. However one should always remember that there are a lot of hassles that may come your way of availing a home loan.

Home loans are available for varying tenure at different interest rate. Repayment of the loan is made through Equated Monthly Installments (EMI) that is calculated by the lender and it depends mainly on the interest rate charged on loan and the loan tenure. However different lenders have different calculation methods of estimating the EMI. Besides one can easily opt for an EMI that suits his budget.

Again these home loans are offered at two kinds of interest rates-fixed and floating- that provides a choice to the borrower. Fixed home loan keeps your interest rate fixed throughout the loan tenure while under a floating rate loan interest rate varies according to the market interest rate. The leading home loan lenders in India are SBI, ICICI, HDFC, etc and if you research well on them, there are a range of home loans that vary from 7% to 16%.

So can easily avail a home loan floating in the market but it is better to compare the interest rate offered by different lenders while you go for your home loan shopping. Also carefully read the loan agreement that you have to sign at the time of availing the loan. The borrower also has to provide certain documents to the lender to avail such a loan.

Hence shelter which is inevitable need for any person can be taken care by home loans. Merely by following an easy course of action, home loan can be availed by any individual in India.

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Bad Debt Consolidation – Solace From All Debt Strains

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Small irregularities and even ignorance from a borrower can lead to the creation of debts for him. These debts have a lasting effect on the credit history of the borrowers in case there is a requirement in the future. To take care of such debts and combat their effect on future financial dealings, bad debt consolidation is the action which is recommended to all suffering borrowers.

The debts that are created for the borrowers may be due to missed repayments or arrears which are created knowingly or unknowingly. These debts lower the credit score of a borrower and a bad credit history for the borrower is created if the score goes lower than 580 on the FICO scale. Bad debt consolidation helps the borrowers by managing these unpaid debts so that an improvement can be made in the credit standings of the borrower.

Consolidation of bad debts can be done by taking up a loan which equals all the debts combined together. The total amount borrowed will pay off all the unpaid amounts that the borrower owes. Now instead of multiple debts of the borrower, he will now just have to repay only one loan with a single lender. Also, this saves the money of the borrower since the new loan taken up is sought at a lower rate of interest.

The borrowers may take up the money for bad debt consolidation through the secured or the unsecured form depending upon the amount required and also the availability of assets. Also, those borrowers who already have a bad credit history can also take up this process to improve their credit history.

Applying online for obtaining bad debt consolidation will help the borrowers get lower rates for the loan amount. Moreover, professional help can be sought better through the online mode with the wide variety of resources that are available.

Bad debt consolidation removes the burden of debts from the borrowers. They can make use of this chance and improve their credit history easily by removing all pending debts.

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DeFi’s Bullish Outlook Surpassed Blockchain and NFTs

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DeFi’s Bullish Outlook Surpassed Blockchain and NFTs

Decentralized Finance (DeFi) is now emerging at a lightning speed providing the users to experience digitized financial services. Through this, DeFi’s contribution is expanding resulting in a rise in the crypto market capitalization. Grabbing the attention of the users into the digital space, DeFi is now incredibly succeeding the crypto market 

Recent times, non-fungible tokens (NFTs) and Blockchain technology were in trend evolving around the town. Besides, NFTs had a great power representing anything to digital which scored a massive hike in the market. And NFTs and blockchain were some of the trending subjects in the crypto industry. 

But, now DeFi increased its Total value locked (TVL)  more than 80% reaching $200B surpassing both NFTs and Blockchain crypto trends.

Boom of DeFi

DeFi assets are more likely providing a digital and a decentralized platform for all financial products and services. The main aim of the DeFi ecosystem is to break the traditional practice of all services related with funds. Rather, it is enhancing the system to work with smart contact technology on blockchain networks. 

Besides, through its innovative technologies DeFi is seeking a lot of recent attention from notable investors around the world. Perhaps the decentralized financial systems help the investors to ease their digital transactions to the next phase. Thus, DeFi adoption by a large number of users booms its value and its market presence. 

Last week, DappRadar submitted a report  to the Dapp industry regarding the developments of the blockchain ecosystem. The provided data is the developments in the blockchain in Q3 2021 along with latest trends of NFTs and games. Among all other digital platforms, DeFi space is more competitive by consolidating Terra, Solana and Avalanche as DeFi players. Besides the TVL crossing $178.12 billion in the industry. 

DeFi -The Game Changer

More so, DeFi initially started on Ethereum (ETH) blockchain and till now more than 70% of DeFi assets are associated with ETH for the smart contract feature. Thus, Ethereum is popularly known as the backbone of DeFi.

Further, with all new technologies and developments, DeFi can become the future of the crypto world. The crypto networks aligned with DeFi empowers the investors to earn, trade and transact the assets without any intermediaries and paperworks. 

Therefore, DeFi protocol is delivering a world class decentralized financial services which benefits the investors on a large scale. Thus the performance of DeFi in the crypto market will make a game changing impact in the digital world.

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Shortcaps of the Cardano (ADA) Summit 2021

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Shortcaps of the Cardano (ADA) Summit 2021
  • Cardano Summit 2021 outshines the whole platform.
  • The platform to be innovated in aspects of NFTs and DeFi.
  • Announcements confirm numerous partnerships on the rise.

The Cardano Summit 2021 was a huge success, as far as the team from Cardano Foundation insists. But yet, many exciting news were announced officially, regarding the future plans for the platforms, numerous partnerships and more. 

Plans for the Cardano Platform

The Cardano Foundation is said to have founded the Cardano (ADA) Summit too. Accordingly for the year 2021, the Cardano Summit was held in about six different countries in a period of two days. Upon this, the Cardano Summit 2021, held in the month of September in 2021 gave out a huge aura of positivity.  

In spite of all this, the CEO of Cardano Foundation, Frederick Gregaard states that the main notion of their platform is to technologically excel.  This will be for adopting more and more new functions that could be enabled upon it.  

Also, the CEO states that numerous partnerships are being made. These are mainly focused on developing the platform in both technical aspects as well as business wise too. 

Furthermore, he terms that the platform is being extensively on profuse research and development in order to accommodate both Non Fungible Tokens (NFT) and Decentralized Finance (DeFi) extravagantly. 

The Partnerships

Besides numerous partnerships which were announced, Cardano now ties up with Rival, an ESports platform. This in turn means that Cradano will be dealing in one or more ways with EPL, NBA and NFL teams profusely. 

In addition, Cardano will be serving as the technology partner for Veritree, an organization which uses blockchains and more environment oriented projects, specifically growing trees and much more. 

Furthermore,  Cardano has also partnered with Union Bank of Philippines in terms of funds, finance technology wise with Venture Studios, and also with powerhouse technology firm AID-TECH. 

With all these into account it seems that Cardano is making itself even more solid and stable, at the same time, a pathway to grow profusely. Therefore, it all contradicts that Ethereum (ETH) will soon be at stake!

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