{"id":140358,"date":"2021-10-01T02:09:01","date_gmt":"2021-10-01T02:09:01","guid":{"rendered":"https:\/\/precoinnews.com\/?p=140358"},"modified":"2021-10-01T02:09:01","modified_gmt":"2021-10-01T02:09:01","slug":"cardano-ada-could-be-used-to-run-a-nation-state-in-the-future-says-charles-hoskinson","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/cardano-ada-could-be-used-to-run-a-nation-state-in-the-future-says-charles-hoskinson\/","title":{"rendered":"Cardano ($ADA) Could Be Used to 'Run a Nation-State' in the Future, Says Charles Hoskinson"},"content":{"rendered":"
Cardano (ADA) founder Charles Hoskinson has revealed he believes the infrastructure on the cryptocurrency\u2019s blockchain will be good enough to \u201crun a nation-state\u201d in the future as he sees Cardano offering a solution to many of the governance issues that affect the world today.<\/p>\n
As reported by Bloomberg, Hoskinson\u2019s words came at the Cardano Summit broadcast. During the broadcast, Hoskinson noted that Cardano\u2019s ecosystem is working on a wide variety of projects ranging from ways to run the currencies of nation-states to voting systems.<\/p>\n
The blockchain should soon see a lot of \u201creal-life data about how to do governments differently,\u201d he said, before adding:<\/p>\n
You could run a nation-state on this type of infrastructure \u2014 not today, but in three to five years, definitely possible.<\/p>\n
Hoskinson further added Cardano is trying to position itself as a legitimate option \u201cfor at least some of these systems and some of these institutions.\u201d Projects on Cardano vary and have been growing rapidly after the network\u2019s Alonzo upgrade brought in smart contract functionality.<\/p>\n
The network is also developing a blockchain-based digital identity system for students and teachers in Ethiopia, for example. Hoskin added at the summit:<\/p>\n
People are fundamentally unhappy with governance. There\u2019s an appetite for new systems, new ways of governance, new types of institutions.<\/p>\n
Cardano\u2019s ADA token saw its price surge over 2,800% over the last year and is now the third-largest cryptocurrency by market capitalization, behind only Bitcoin and Ethereum. Despite its rapid growth, it has been criticized by some, including Galaxy Digital CEO Mike Novogratz who last month said it had \u201czero traction\u201d with developers and called it a \u201cweird cult\u201d in June.<\/p>\n
Hoskinson himself as dismissed criticism of the cryptocurrency\u2019s market capitalization after it briefly Binance Coin (BNB) to become the third-largest cryptocurrency by market capitalization.<\/p>\n
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The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.<\/em><\/p>\n
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