Cardano’s Charles Hoskinson Talks Michael Parsons’ Resignation And ADA Ecosystem’s Growth Ahead

Cardano Announces The Resignation Of Michael Parsons As The Chairman of The Cardano Foundation Council, Pascal Schmid Takes Over

Cardano Foundation recently announced the resignation of the chairman of the Foundation Council, Michael Parsons, stating that Pascal Schmid, a member of the same council will take over on an interim basis. The announcement read:

“The Cardano Foundation today announced that Michael Parsons, Chairman of the Foundation Council of the Cardano Foundation, has resigned with immediate effect. Pascal Schmid, Council Member, will take over as Chairman of the Foundation Council on an interim basis.”

Although Schmid was seen as a suitable member to hold the Chairman position, Cardano noted that they would find a suitable person to take over officially soon enough. The company stated that:

“The Foundation is working to supplement the Foundation Council with suitable persons as soon as possible. Swiss national Pascal Schmid graduated from the University of St. Gallen in 2004 with an M.A.HSG in Finance, Accounting and Controlling.”

Charles Hoskinson Welcome’s Resignation, Expresses Optimism for The Future Of Cardano Foundation

Charles Hoskinson, one of the brains behind Cardano and Ethereum projects, is among those who have welcomed the move by Michael Parsons to resign as the Foundation’s Council chairman. He took it to social media explaining his thoughts, releasing a YouTube video in which he showed optimism for further progress of the Cardano project

In the video, Hoskinson expressed some renewed hope for the Cardano Foundation, saying that Schmid will be responsible for reconstructing and ‘reinvigorating’ the project. He claimed that:

“Now that Parsons is gone, the Foundation needs to work very hard to restore its trust, faith, and credibility within the Cardano community… The Foundation also needs to be a good citizen within the Swiss jurisdiction and my belief is that it needs to make some investments to build up its presence in the region.”

Hoskinson further added that

“The Foundation can take this recent crisis in stride and take an opportunity to reinvent itself and become a bastion of good governance. It has been quite unfortunate that for two years, the Foundation was rather ineffective from exchange listings to lobbying to regulatory outreach to basic community management goals, but now, it can no longer rest of the laurels of prior directors.”

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