Creator of Cardano: “We don’t have to be EOS, Tezos or Ethereum”

  • Charles Hoskinson has discussed the adoption of Cardano and possible use cases that the blockchain could have in today’s world.
  • Hoskinson revealed an IOHK project in Ethiopia to support Ethiopian agriculture by providing fertilizer vouchers.

In a video update, Charles Hoskinson, the creator of Cardano, spoke about the adoption of Cardano and the importance of blockchain technology. Hoskinson explained that Cardano’s technology is providing real value to the world. He also reaffirmed the value of blockchain technology in general, saying that the value goes beyond making money and speculating on an asset:

The point of the cryptocurrencies’ space isn’t about money. It’s not about Bitcoin. It’s not about going to a market cap and saying it did go up 5% or down 10%. Really, the abstract point of our industry as a whole is about trust among parties who have to work together but don’t really trust each other.

Cardano: The final frontier could be Africa

The IOHK CEO also referred to the work his company is doing on the African continent. He described the continent as one of the most exciting places to do business. According to Hoskinson, there are countries where 70% of the population is under 30 years old and connected to today’s technology. These people are “begging for a change of system.” Furthermore, Hoskinson spoke about one of the solutions that could potentially have a positive impact on improving the supply chain in Ethiopia, namely fertilizer vouchers:

Our own company, for example, in Ethiopia right now we’re bidding on a project for six million small holder farmers for fertilizer vouchers. But when you start digging into the business and technical requirements of such a program, you start realizing how incredibly interconnected life happens to be […]

When you build a voucher system, you’re actually building a payment system. And actually you’re building an identity system. And then somewhere along the way you’re building a census system to get to know who people are. And then somewhere along the way you’re building a voting system. And then somewhere along the way you’re going to tether it to output, so you’re building a supply chain system for agricultural goods.

Later, Hoskinson predicted that it was likely that a common currency could emerge among African countries. According to him, it could be a cryptocurrency based on the Cardano blockchain. This, he added, distinguishes Cardano from EOS, Ethereum and Tezos:

How are we gonna beat Tezos, Ethereum, EOS? To be frank, I don’t care about their success or stability in the existing crypto market. It makes no difference to me that they have a market capitalization of 25 billion because they convinced rich people in California to buy their token. Our project has always been about asking ourselves, can we build a new financial operating system? […] That system will allow these people to be lifted out of poverty and build value for all […] So, frankly we don’t have to be EOS, Tezos or Ethereum […] What we have to do is inspire people in this jurisdiction to solve problems.

Hoskinson also referred to Cardano’s marketing strategy. As reported by CNF, this strategy is currently being worked out by the creative firm McCann Dublin. The cooperation between the Cardano Foundation and McCann was confirmed in December 2019 with the aim to develop new concept and strategy to relaunch the Cardano brand together with the launch of the Shelley mainnet. While this strategy is intended to drive the adoption of Cardano, Hoskinson believes that in the future adoption will take another path:

The path to adoption will not be achieved by hiring a particular marketing firm, it will not be achieved with a video, a press release […] it will be achieved on the backs of millions of people who work hard on the principles of a better future.

About Author

Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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