During a recent AMA session, Cardano founder Charles Hoskinson highlighted recent developments and progress on the blockchain. He emphasized the blockchain’s growth since the 2021 Cardano summit, with NFTs and projects like Indigo and Djed powering various applications.
Hoskinson reiterated that Cardano aims to support multiple chains that work together to power “true Web3 applications,” with governance on Cardano being built in 2023 and its full effects expected to come into play in 2024.
Despite challenges such as the FTX and Luna crashes, a prolonged bear market, and increased U.S. regulations, Hoskinson stated that Cardano is stronger in 2023 than in 2021. He mentioned that institutions like the NFL, Formula One and E, and dozens of Fortune 500 companies had approached him for partnership and sponsorship in 2021, but their stances changed following the crashes and increased regulatory scrutiny.
Hoskinson also reiterated Cardano’s commitment to fostering development in Africa, mentioning that the company has invested millions of dollars in Africa to support pilot projects in Kenya and Ethiopia, despite challenges such as the ongoing war in Ethiopia. However, he noted that institutions had turned against him, with some even questioning why he wasn’t in jail.
In addition, Hoskinson criticized the investment contract test used by the U.S. Securities and Exchange Commission in its actions against crypto firms, stating that the SEC could classify anything as a security under the test. He also expressed his belief that current policies are driven by enforcement rather than legislation, resulting in the present situation.
Overall, Hoskinson’s recent AMA session emphasized Cardano’s progress and development, addressing both positive strides and challenges in the cryptocurrency industry.