Cardano’s Charles Hoskinson Slams JP Morgan Coin
Colorado-based entrepreneur, Charles Hoskinson aims to solve a global crisis with the help of emerging technologies. One of his major goals is to provide access to financial tools for around the world using blockchain tech. Hoskinson is known to be one of the wealthiest members in the crypto community with a net worth of approximately $500-$600 million. However, even though Hoskinson has proved to be a successful entrepreneur, he continues to spread awareness about crypto and blockchain technologies and travels to places as far Japan and South Korea for building partnerships, since these countries are believed to have highly advanced technologies. Hoskinson is the founder of several startups which include IOHK, Ethereum, Bitshare, Ethereum Classic, The Bitcoin Foundation, etc. and has been traveling across the globe to promote his latest creation ‘Cardano.’
A report mentioned that Charles Hoskinson began ripping into the JP Morgan Coin as well as the bank that produced it at the recently held Hybrid Summit in the summit, where he was one of the noted speakers.
Without any hesitation, he accused the Bank of criminal behavior.
To quote Hoskinson:
“The whole reason we exist is that these guys are criminals. They’ve done horrible things over the last few decades. They’ve bankrupted the world, and they’ve excluded three billion people from the world financial systems as a consequence of their regulations and the systems they’ve put into play. And the whole world is living the consequences of their wrongdoing and poor decisions. And so, as a counter-reaction, the cryptocurrency exists, and it continues to grow, and it will continue to gain relevance. And eventually, it will collide with the legacy system.”
On a positive note, Hoskinson explained to the gathering the kind of work his company was involved with as well as the entire crypto world. He also stated that the crypto technology is crawling but also affirmed that such things take time.
To quote Mr. Hoskinson again:
“We modernize blockchain technology. Everything from the property and business registration to voting systems to supply chain management, across to as many verticals as we can find. Once you have blockchain tech, you have digital identities, you have wallets, and then you can link them to permissionless systems like Cardano and Ethereum, and give them access to credit, insurance, remittances and these types of things. So it’s a slow, methodical march, and it takes quite a bit of time. But it’s very meaningful work. We actually get to start from nothing and eventually build up to something quite significant, and collectively can end up eventually capturing trillions of dollars of value.”
He also went on to explain the impact of the traditional Western financial system and the scars it has left on the world. In conclusion, he went on to assure everyone present that Blockchain is the technology of tomorrow and we must all look forward to it. I look forward to it.