In a recent AMA session, Charles Hoskinson, founder of the Cardano blockchain and reputed member of the cryptocurrency community, highlighted recent developments and strides on Cardano.
During the unexpected AMA on Sunday, Hoskinson reiterated that the Cardano blockchain is still on the right path. According to the founder, the blockchain has grown since its 2021 Cardano summit, with NFTs and projects like Indigo and Djed powering several applications.
Furthermore, he noted that Cardano aims to support dozens of chains that work together to power “true Web3 applications.” He continued by saying that 2023 is the year governance on Cardano is built, while the full effects are expected to come into play in 2024.
Hoskinson said Cardano is still committed to fostering development in Africa. Notably, he mentioned that the company has invested millions of dollars in Africa to support pilot projects in Kenya and Ethiopia. He added that this has continued despite challenges such as an ongoing war in Ethiopia.
Meanwhile, the founder noted that the FTX and Luna crashes, a prolonged bear market, and increased U.S. regulations changed sentiments around the crypto industry. According to Charles, institutions like the NFL, Formula One and E, and dozens of Fortune 500 companies had approached him for partnership and sponsorship in 2021.
However, he stated that their stances changed following the crashes and increased regulatory scrutiny. He added that the institutions all turned against him, with some even questioning why he wasn’t in jail. Despite the challenges, Hoskinson stated that Cardano is stronger in 2023 than in 2021.
Elsewhere, Hoskinson criticized the investment contract test used by the U.S. Securities and Exchange Commission in its actions against crypto firms. According to the founder, the SEC could categorize anything as a security under the test. He continued by saying that the present situation is what happens when policies are driven by enforcement and not legislation.
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