Fearless Leader of Cardano (ADA) Charles Hoskinson: Another Global Financial Crisis is Imminent


Charles Hoskinson, the founder of the Cardano (ADA) distributed ledger technology (DLT) project that allows developers to build highly functional smart contracts and apps, has opined that the global traditional financial market is unhealthy and if proper care is not taken, the world might go into another severe economic crisis, according to reports on March 18, 2019.

Charles Hoskinson Blasts the Government

Per sources close to the matter, Charles Hoskinson, the Colorado-based mathematician and technology entrepreneur who was present at the TOKEN2049 conference held in Hong Kong earlier in March 2019, noted that the United States national debt has now surpassed $23 trillion, due to the gross incompetence of America’s leaders.

He also opined that the global financial market is in a sorry state and there are tons of toxic inflationary policies and derivatives floating around, and the politicians are not making efforts to solve these problems.

Governments and Large Corporations Can’t Save the World

According to Hoskinson, due to the menace of mismanagement of economic policies by the government, the world will potentially face “some difficult financial times soon, and if every time the economic collapses get 10 times larger than the previous one, you can imagine where we’re going to be at,” he declared.

The highly reputed cryptocurrency enthusiast also made it clear that even governments and large corporations cannot solve the looming financial crisis.

Blockchain and Cryptos to the Rescue

Hoskinson firmly believes that the mantle has fallen upon individuals to help the world overcome all economic bottlenecks via blockchain technology and digital assets.

“In the long run, what’s so magical about the technology we build, what’s so magical about this [DLT and crypto] movement is it’s mostly open-source,” said Hoskinson, adding “We share great ideas. If Justin comes up with something, I can take it. And, if we come up with something, he can take it. If the NEO guys develop a solution, it’s free game. Same for Ethereum, same for Cardano.”

Just like Science

Hoskinson compared the blockchain ecosystem with the world of science where new inventions can be worked on and eventually improved.

“And, it works just this way in science. I remember when we first started publishing papers… since then we’ve published 40. More than 20 have gone through peer review at major conferences. In just those few years, I’ve watched from just a few papers presented, to dozens, to eventually dedicated tracks, to having a conversation of skepticism and “okay, good for you, please move on” to “this is really interesting, I’d love to work with you, I’d love to collaborate,” he stated.

As reported by Bitcoin Exchange Guide in June 2018, Hoskinson led the Cardano (ADA) blockchain project into Ethiopia, in a bid to enable the region to enjoy the dividends of DLT.

Now Hoskinson has revealed that he has helped several Ethiopians learn how to program with the Haskell programming language, the standard language for developing applications on Cardano.

At press time, the price of Cardano (ADA) sits at $0.053, with a market cap of $1.39 billion and a 24-hour trading volume of $57.33 million, as seen on CoinMarketCap.

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