As a seasoned crypto investor with a keen eye for disruptive technologies and governance structures, I find Charles Hoskinson’s recent address both enlightening and disheartening. Enlightening because his vision for a decentralized future aligns perfectly with my own beliefs in the transformative potential of blockchain technology. Disheartening, however, due to the grim reality he portrays about our current political landscape.
In a video titled “The Final Stage and Plans for 2024,” Charles Hoskinson, creator of Cardano, gave a pointed critique of the current political and financial system. This criticism followed his involvement at the Salt Conference—an event designed as an alternative to the yearly meeting by central bankers from across the globe held at Jackson Hole. Hoskinson voiced his strong discontent with the existing political landscape and outlined his vision for a drastically different future, focusing on decentralized management and blockchain technology.
What The Cardano Founder Means With “End of the Line”
Opening his address, Hoskinson discussed the expected political developments involving his preferred presidential candidate Robert Kennedy Jr. who is likely to exit the race and endorse Donald Trump. This move, according to Hoskinson, symbolizes a deeper systemic issue within American politics, where strategic alliances often overshadow genuine ideological commitments. “
Hoskinson expressed frustration, stating that due to current global tensions, this election was crucial. He found it extremely aggravating and maddening that someone like RFK might withdraw from the race due to legal challenges and an unjust system. He no longer has faith that U.S. federal elections can effectively address the issues at hand.
Later, he elaborated on the flaws within the present political system, particularly the Democratic National Committee’s (DNC) actions aimed at hindering independent political campaigns. He emphasized the legal obstacles set up by the DNC that make it difficult for these candidates to even get on the ballot, which he believes undermines democracy itself. In his opinion, this manipulation is a direct attack on democratic values: “Many third-party candidates, like Robert F. Kennedy, have been purposefully blocked by the DNC to keep them off the ballot.”
The creator of Cardano strongly expressed concerns about the regulatory hurdles confronting the cryptocurrency sector, characterizing it as an attempt to suppress innovation using aggressive legal tactics. He pointed out instances like the SEC’s expansive regulatory actions against U.S. exchanges and platforms, which he believes is part of a larger, mistaken campaign by the current administration to tighten its grip on the crypto industry. “Choke point 2.0 represents a unique strategy under Biden, as does the SEC targeting almost every American Exchange and many layer one protocols,” he stated.
Regarding the financial policies under the Democratic party in the U.S., Hoskinson voiced serious worries over Kamala Harris’s suggested capital gains tax on unrealized capital gains. He explained that such measures could be invasive, as they would necessitate annual appraisals of all personal assets and potentially compel individuals to sell their assets to pay taxes. In simpler terms, he pointed out that this would give the government the legal power to know everything you own, with accountants determining yearly if those possessions have increased or decreased in value.
Instead of his original suggestion, Hoskinson proposed a sequence of actions for 2024 that aim to transform governance by utilizing the principles of decentralization inherent in blockchain technology. He supported state-level efforts to propose a constitutional convention with the goal of revising the rules of American governance to boost transparency and decrease centralized control. Essentially, he encouraged each state to modify their voting systems, primaries, and consider calling for a constitutional convention. This movement champions systemic reforms that echo the decentralized, open-source nature of blockchain technology.
Charles Hoskinson envisions employing Cardano’s technology to design various governance structures. In December, he intends to convene a worldwide assembly to draft a new charter that could function as a guide for decentralized governance. This initiative aims to showcase the real-world benefits of blockchain technology in establishing fairer and more transparent governance systems.
“Once we wrap up our Cardano-related tasks and establish complete on-chain governance, I’ll definitely found an organization in 2025. It will progress state by state, collaborating with similar organizations and drawing inspiration from the Cardano Constitution,” Hoskinson explained.
In his continued discussion about the obstacles we’ll face in terms of technology and economy, Cardano’s founder emphasized the importance of effective leadership when dealing with upcoming technological innovations like cryptocurrency, artificial intelligence, quantum computing, and nanotechnology. He raised doubts regarding the ability of current and future governments to sensibly control and incorporate these technologies without being swayed by corporate influences that might exploit these potent new resources.
To summarize, Hoskinson’s words, “From now on, I won’t support either Republicans or Democrats. I’ll only back independents,” reflect his deep-seated disillusionment with conventional politics and his determination to bring about change by means of creativity and decentralization.
At press time, Cardano traded at $0.3811.
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2024-08-23 20:12