Charles Hoskinson lays out the future of Cardano; praises Bitcoin and Ethereum

  • Cardano has a goal to use technology to develop solutions for very difficult, real-world challenges:
  • Bitcoin and Ethereum have great decentralized systems but must develop protocols that help them to scale.

The founder of Cardano, Charles Hoskinson in his recent interview with Fortune shared his opinions on crypto revolution and the power it has to uplift the lives of billions of people. According to Hoskinson, Cardano has a goal to use technology to develop solutions for very difficult, real-world challenges:

“We often say that Cardano is the financial operating system for the countries that don’t have one. We really want to be the entity that solves the remittance problem. And we really want to be the protocol that solves the micro-finance problem, and get those loans down from 35% interest to 5% interest. We’d really like to be able to find a way to extend these cryptocurrency protocols into environments that basically are off-line. How do you use a cryptocurrency if you don’t have access to the internet? How do you use a cryptocurrency if you only have a sporadic ability to recharge your phone or your laptop?”

Hoskinson showered both Bitcoin and Ethereum with praises but said that the networks should constantly develop new frameworks and protocols that allow them to scale.

“You really have to think outside of the box and develop fundamentally different protocols that allow you to scale.”

The Cardano team is currently working on issues beyond scalability. These include developing seamless storing, transfer and spending of cryptocurrencies on multiple devices.

 

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