Charles Hoskinson: VCs don’t understand Cardano

In one Video Recently on YouTube, Charles Hoskinson highlighted the rapid growth of the Cardano (ADA) ecosystem while addressing concerns from other members of the crypto community over the past year.

“We live in a world where groups of autocrats become fact checkers and decide what is legal,” said Hoskinson of the government’s perception of cryptocurrencies. He also pointed out that most financial crimes are committed with US dollars or other fiat currencies.

According to Hoskinson, the development of the crypto ecosystem could be slower this year than 2022:

“It’s hard to argue with the $ 2.5 trillion industry and imagine where this is going. I think we should just look at it as an industry where the consequences of growing so quickly are for better or for worse. ”

He also stressed the need to change Silicon Valley’s “weird mantra of growing fast and destroying things” to crypto, which has already generated $ 10.5 billion in losses in the DeFi space by the end of 2021. Hoskinson emphasized Cardano’s slow and methodical approach:

“So VCs don’t even really understand that Cardano has a community. They think I’m the only one behind this. ”

Hoskinson also said that Cardano will gradually move into a permanent open source project, comparing it to the Linux operating system. He hopes to move from a hierarchical structure to an open source dApp developed by members of the Cardano community:

“Developers should also make a commitment that at least one of their developers will contribute to the Cardano protocol.”

In the long term, Hoskinson plans to complete the Cardano roadmap more quickly through this “small resource commitment”. He also responded to YouTubers, podcasters, and VCs who questioned Cardano’s development by saying that “we’re the number one platform for GitHub engagement”:

“If you are an expert who can judge the quality of our comments, please let us know what is wrong, what is not, and which parts of the roadmap are seriously failing.”

In a similar YouTube Live, Hoskinson spoke about DeFi’s potential as well as Cardano’s small role in the industry.

In his opinion, developers and creators need to have a more long-term vision:

“It’s very difficult to do this type of engineering and stick to the plan and have a vision for the future. Unfortunately, many projects in this area will not stand the test of time. The reality is that we are going to see a major genocide in the next five to ten years. ”

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