Cardano (ADA) co-creator Charles Hoskinson offers a far-reaching vision for the future of crypto assets.
Hoskinson in new video update To tell His 315,000 YouTube subscribers believe crypto projects like the ADA could one day become the world’s financial system, but for this to become a reality, the US government needs to adopt favorable crypto regulations. points out that there is
“What we need to get [to] next level. As many of you know, we want Cardano and cryptocurrencies in general to become the world’s financial operating system.
My great passion in life is to bank the unbanked and give them an economic identity that they control. It is self-sovereign and ultimately global in nature, guaranteeing human rights, freedom of association, commerce and freedom of expression.
Achieving that requires a regulatory regime that recognizes the existence of cryptocurrencies, views them as positive, and values the freedoms they offer people. ”
Hoskinson expressed concern about the direction of China’s digital yuan project, saying the project would undermine people’s economic freedom.
“Representatives from the People’s Bank of China happened to give a presentation on the digital renminbi and were very impressed with how sophisticated and already scaled the system is: 40 million users, 10,000 transactions per second. , a semi-account model, and very, very tightly coupled with existing payment systems such as WeChat, Alipay, etc.
And it’s very clear that they’re bundling social credit and the Belt and Road Initiative with this digital currency. ”
According to Hoskinson, China’s current model will ultimately allow a few individuals to economically control the lives of billions of people. It will be a freedom-focused digital asset rather than a digital currency (CBDC).
“If this becomes widespread, there will be a money system in which very few people have complete and absolute control over the economic freedom of billions of people. This is not a hypothesis. This is an active project. , with great technology and great brains behind it.
And with 40 million users already in beta, it spreads like wildfire, first across China and then to all countries that adopt the renminbi as their reserve currency.this is [a] A reality that we all have to face. The antidote to this is not another he CBDC such as the digital dollar, but a cryptocurrency with a free nature. So we fight that battle. ”
Me
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