Ethereum Co-Founder Discusses Global Adoption, Warns Against “Goliaths” Permanent Monopoly

    Cryptocurrency adoption has been a priority of the industry at a widespread level ever since it began. Decentralization takes the power away from a few people in charge and spreads it amongst the public. However, Charles Hoskinson discussed what is holding adoption up and what could prevent a monopoly.

    • Charles Hoskinson discussed how global adoption of cryptocurrency could be possible.
    • The Cardano founder breaks down how power needs to be rebalanced to do so.

    Charles Hoskinson is a well-known name in the cryptocurrency world. The co-founder of Ethereum and founder of Cardano has become incredibly influential in the space, which has a lot to do with the way that he continues to hold live discussions with the public about the industry.

    He recently was the subject of an interview where he spoke about the best ways to promote cryptocurrency adoption throughout the world.

    As Hoskinson sees it, the first step towards acceptance globally is a “rebalancing of power.” He commented on the way that baby boomers and the “silent generation” will sit back and criticize the way that Mark Zuckerberg runs his social media platform as an example of this imbalance. He added:

    “The only way out is to call another constitutional convention and gradually chip away the bureaucracy over 10- or 20-year period.”

    Furthermore, he adds that the United States lacks the liquidity to try to be “the policemen of the world.” He noted that there is a possibility of big players like Microsoft, Facebook, and Google achieving temporary monopoly.

    Still, as the government gets involved with setting the standards for these platforms, those same companies could ultimately choose to make the monopoly into a permanent arrangement. The cryptocurrency industry could still prevent this issue from happening by creating social networks that are decentralized as well, which would have more self-sovereignty.

    The goal of Cardano, as Hoskinson explained, is to create an economy that is able to sustain itself, which could be used for buy/sell services in the same way that fiat can. At the same time, the ADA supply demand will be driven up, which is “unlike gold’s value that was driven by speculation.”

    Another way to support adoption will be to integrate countries with greater wealth or “potential wealth,” which is why Hoskinson likes to travel to Mongolia, Georgia, Uganda, and others.

    After discussing how he wants to improve ADA adoption, Hoskinson added that freeing up these areas and becoming “the monopoly in all those jurisdictions” would give someone “an army bigger than anybody else’s army.” He added that, once this happens, “you can come back to the western world with it and then eventually conquer them too.”

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    Krystle M
    Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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