Announcing new Cardano Foundation and Reef Data eG Partnership
Demonstrating how sales, reward distributions, and member payouts can be recorded on-chain
Zug, Switzerland and Hamburg, Germany July 28, 2026 – The Cardano Foundation today announced a partnership with Reef Data eG, a Hamburg-based data cooperative. Backed by Hamburger Volksbank eG, ARIC e.V., VALIO Hamburg GmbH & Co., and Disruptive Elements GmbH, the partnership will use Reeve, the Foundation's open-source reporting transparency platform to record the cooperative's payment flows transparently and auditably on the Cardano blockchain.
When developing the Reef Data eG solution, the Reef Data team required an additional transparency layer to bring immutable traceability to their existing solution. Working with the Cardano Foundation, they were introduced to Reeve, a reporting transparency platform which would give the cooperative members full transparency over their own data and their earned rewards, while also providing independent auditors with cryptographically anchored, time-stamped access to the cooperative's financial record.
“Reeve was built on the conviction that financial flows should be verifiable by everyone and fully transparent, particularly for those they affect,” said Cleopatra Martins, Finance Product Lead, Cardano Foundation. “Reef Data's cooperative model is a natural fit for that principle. Its members produce the value, so they should be able to verify directly. This pilot is about proving that transparency and accountability can be designed into the data economy from the start.”
Under the partnership, Reef Data developed the application layer (including backend systems, user wallet extension, public and auditor dashboards and blockchain referencing). While the Cardano Foundation provided and further developed the Reeve platform, including the Reeve Publisher and Reeve Data Reader services. Together they defined the data model, on-chain/off-chain strategy and integration testing.
“The project, supported by the Cardano Foundation, demonstrates how sales, reward distributions, and member payouts can be recorded on-chain,” said Elizabeta Gorgievska, Head of Marketing, Reef Data GmbH. “This allows cooperative members and external auditors to independently verify financial flows rather than relying on the cooperative's own records alone. Jointly we were able to test the integration of Reef Data's systems with Reeve, validate the publishing and retrieval of structured data on-chain, and assess the combined solution's technical feasibility, performance, and usability for the benefit of our future cooperative members and customers.”
Read our new Reef Data case study here: https://cardanofoundation.org/case-studies/reef-data