Cardano founder Charles Hoskinson has responded to criticism over The Cardano Foundation\u2019s partnership with Confirm, saying it was necessary for adoption of ADA. <\/p>\n
The Cardano Foundation announced its partnership with the blockchain analytics provider on Aug. 24, which will see Confirm\u2019s analytics being utilized to ensure compliance with frameworks such as the 6th Anti Money Laundering Directive and Financial Action Task Force\u2019s guidelines.<\/p>\n
\u201cThe tools and services provided by Coinfirm enables every exchange, custodian, and all other third-parties to clearly track the history of ADA held in their wallet,\u201d the announcement read. <\/p>\n
Not everyone welcomed the move however. Yesterday Weiss Crypto, the subsidiary of financial ratings firm Weiss Ratings, criticized it vociferously via a thread on Twitter, describing it as a \u201cbad move all-around\u201d: <\/p>\n
\u201cThe excessive regulation is how the banking system was choked to death. With this announcement, it would seem ADA is proudly announcing they want to follow in their footsteps.\u201d<\/p><\/blockquote>\n
Weiss Crypto appeared to be quite irritated with Cardano\u2019s move towards regulatory compliance, as it asserted that it is now \u201ccloser to becoming a censorship-prone, politicized, and manipulated network.\u201d <\/p>\n
\u201cIf you’re going down this route, there are far better tools for the job \u2014 Facebook’s Diem, CBDC\u2019s and the networks they’ll spring up,\u201d the post read. <\/p>\n
Weiss Crypto went on to suggest that if some crypto projects or decentralized networks worked towards regulatory compliance, it would \u201conly guarantee your demise.\u201d<\/p>\n
The Ethereum-co-founder and Cardano creator responded with a video message on the thread, and emphasized that \u201cthe point and the purpose has always been building in layers, building modules, building ecosystems\u201d that enables compliance with local regulations.<\/p>\n
\u201cSo while the base layer of the system doesn\u2019t care if you\u2019re from the United States or China, Japan, wherever, what you can do is add identity and metadata, and all kinds of other things and those other things give you the ability to be in compliance with your business domain, regulated or otherwise,\u201d he said. <\/p>\n
Related: Number of Cardano millionaires rises by 173% after ADA price hits new highs<\/em><\/strong><\/p>\n\u201cAnd that\u2019s the reason these partnerships are important. They provide clarity. They provide a lot of business and technical requirements, and they allow us to make the software better for everyone everywhere, and Cardano to get more adoption in all industries, regulated and unregulated,\u201d Hoskinson concluded. <\/p>\n
Amid the anticipation of Cardano smart contracts which are slated to launch on September 12, the price of ADA has surged 99% over the past 30 days, increasing from $1.27 on July 27, to sit at around $2.53 at the time of writing. <\/p>\n
Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Cardano founder Charles Hoskinson has responded to<\/p>\n","protected":false},"author":3,"featured_media":136956,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n
Charles Hoskinson responds to criticism over Cardano\u2019s Confirm partnership - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/charles-hoskinson-responds-to-criticism-over-cardanos-confirm-partnership\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Charles Hoskinson responds to criticism over Cardano\u2019s Confirm partnership - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Cardano founder Charles Hoskinson has responded to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/charles-hoskinson-responds-to-criticism-over-cardanos-confirm-partnership\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-27T06:20:27+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/08\/Charles-Hoskinson-responds-to-criticism-over-Cardanos-Confirm-partnership.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/charles-hoskinson-responds-to-criticism-over-cardanos-confirm-partnership\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/charles-hoskinson-responds-to-criticism-over-cardanos-confirm-partnership\/\",\"name\":\"Charles Hoskinson responds to criticism over Cardano\u2019s Confirm partnership - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-08-27T06:20:27+00:00\",\"dateModified\":\"2021-08-27T06:20:27+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/crypto\/charles-hoskinson-responds-to-criticism-over-cardanos-confirm-partnership\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/crypto\/charles-hoskinson-responds-to-criticism-over-cardanos-confirm-partnership\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/charles-hoskinson-responds-to-criticism-over-cardanos-confirm-partnership\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto\",\"item\":\"https:\/\/precoinnews.com\/category\/crypto\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Charles Hoskinson responds to criticism over Cardano\u2019s Confirm partnership\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Charles Hoskinson responds to criticism over Cardano\u2019s Confirm partnership - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/crypto\/charles-hoskinson-responds-to-criticism-over-cardanos-confirm-partnership\/","og_locale":"en_US","og_type":"article","og_title":"Charles Hoskinson responds to criticism over Cardano\u2019s Confirm partnership - Pre Coin News","og_description":"Cardano founder Charles Hoskinson has responded to","og_url":"https:\/\/precoinnews.com\/crypto\/charles-hoskinson-responds-to-criticism-over-cardanos-confirm-partnership\/","og_site_name":"Pre Coin News","article_published_time":"2021-08-27T06:20:27+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/08\/Charles-Hoskinson-responds-to-criticism-over-Cardanos-Confirm-partnership.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/crypto\/charles-hoskinson-responds-to-criticism-over-cardanos-confirm-partnership\/","url":"https:\/\/precoinnews.com\/crypto\/charles-hoskinson-responds-to-criticism-over-cardanos-confirm-partnership\/","name":"Charles Hoskinson responds to criticism over Cardano\u2019s Confirm partnership - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-08-27T06:20:27+00:00","dateModified":"2021-08-27T06:20:27+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/crypto\/charles-hoskinson-responds-to-criticism-over-cardanos-confirm-partnership\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/crypto\/charles-hoskinson-responds-to-criticism-over-cardanos-confirm-partnership\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/crypto\/charles-hoskinson-responds-to-criticism-over-cardanos-confirm-partnership\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Crypto","item":"https:\/\/precoinnews.com\/category\/crypto\/"},{"@type":"ListItem","position":3,"name":"Charles Hoskinson responds to criticism over Cardano\u2019s Confirm partnership"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/136957"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=136957"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/136957\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/136956"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=136957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=136957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=136957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}