Cardano Aspires To Be a “Legitimate Option” in Global Governance

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According to the Cardano blockchain’s founder, blockchain and decentralised technologies offer a compelling solution to many of the governance concerns plaguing the globe today.

Charles Hoskinson said in remarks at the Cardano Summit televised on Saturday that the Cardano ecosystem is working on topics ranging from voting to payments to even approaches to administer national currencies. He also stated that there should be a large amount of “real-life evidence regarding how governance may be done in different ways.

If you have this kind of infrastructure, you could operate a nation-state in the next three to five years, Hoskinson added. “We want to position ourselves in the marketplace of ideas as a legitimate option for at least some of these systems and institutions,” Cardano said in response to that.

Since its inception in 2017, Cardano has had its fair share of sceptics, notably Galaxy Digital Holdings Ltd. CEO Mike Novogratz, who said last month that the platform has “zero traction” with developers. However, according to CoinGecko.com’s price, its ADA token has gained over 2,800% in the last year, making it the third-largest cryptocurrency behind Bitcoin and Ether. Cardano’s projects include the creation of an Ethiopian student and teacher digital identity system based on blockchain technology.

Hoskinson stated at the summit that the public was “fundamentally dissatisfied” with government. “There’s a hunger for new systems, new forms of governing, and new kinds of institutions.”

Published by Zack Baharum

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