Cardano’s Grand Plans: A Journey Through Bitcoin, ICP, Ripple, and Global Dreams

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Ah, Charles Hoskinson, the illustrious founder of Cardano (ADA) and the grand CEO of Input Output Global (IOG), graced us with a sprawling AMA on the fateful day of February 2, 2025. He spoke of potential partnerships with the Internet Computer Protocol (ICP), Cardano’s stablecoin strategies, and the ever-elusive Bitcoin interoperability, all while weaving tales of ongoing initiatives with various nations. For nearly two and a half hours, Hoskinson regaled us with tales of governance, budgeting, and the technical roadmaps of the Cardano ecosystem, all while casting a hopeful gaze towards the future of multi-chain applications. Quite the show, wouldn’t you say? 🎭

Partnership Prospects With ICP

One of the recurring themes was the tantalizing prospect of cross-chain collaboration. When the question arose about working with the enigmatic Dominic Williams and ICP, Hoskinson hinted that discussions about interoperability and cooperation might just be on the table. How thrilling! 🍽️

While he refrained from laying out a definitive roadmap, he mused, “It’s potentially possible. ICP was very unhappy about being excluded. They were one of the best blockchain candidates for what Wyoming wanted to do and they were excluded for no reason. So it would be interesting to see if perhaps on the litigation side they’d want to come in [… ] overall there’s a lot of good people in that ecosystem got great scientists in that ecosystem too.” Oh, the drama! 🎭

This remark, made in the broader context of the Wyoming stablecoin project, highlights Hoskinson’s willingness to revisit relationships with other networks. His stance on multi-chain interoperability has been as steady as a rock. He often emphasizes the strategic importance of bridging ecosystems, declaring that the future of blockchain is “multi-chain” and that platforms like Cardano can gain significant value through cross-pollination with projects like ICP. 🌍

Ongoing Conversation With Ripple

Stablecoins emerged as the shining star of the AMA, with Hoskinson referencing multiple proposals, including Real USD and RLUSD. He stressed that stablecoins on Cardano must be handled with utmost transparency and security, emphasizing that they should be interoperable with both on-chain governance and DeFi protocols. A noble cause indeed! 🏰

Revisiting the possibility of cooperation with Ripple, Hoskinson noted ongoing conversations: “We talk to David Schwartz and Brad Garlinghouse. […] Strong possibility we can negotiate something with RLUSD. Ripple told us to wait till March as they just finished NYDFS. […] We’ll see if there’s a roadmap and how they’ll get that done.” The suspense is palpable! ⏳

He also proposed a scenario where the Cardano treasury could convert a percentage of its funds into a stablecoin, potentially using external managers to participate in Cardano-native DeFi. Such an approach, Hoskinson argued, “would increase the amount of minted stablecoins in the Cardano ecosystem,” thereby boosting total value locked (TVL) and liquidity. However, he stressed that any such measure would require broad community debate and on-chain governance to secure consensus. Democracy in action! 🗳️

Bitcoin Interoperability

Hoskinson maintained his steadfast belief that Cardano should strive to interface directly with Bitcoin. He explained that it can serve as a US strategic Bitcoin reserve and a powerful asset to onboard, revealing ongoing work on Bitcoin-based DeFi projects, with plans to present a functional demonstration at the Bitcoin 2025 conference. Exciting times ahead! 🚀

Moreover, Hoskinson described an ambition to merge Hydra—Cardano’s layer-2 scalability solution—with the Lightning Network, potentially resulting in a “lightning-Hydra synergy” that fosters greater cross-chain functionality. “Hydra continues to grow […]. We’re exploring how to merge Hydra with the Lightning Network and create lightning-Hydra so that that Bitcoin relationship strengthens,” he said. A match made in blockchain heaven! 💡

Global Adoption

From the sun-kissed lands of Africa to the vast steppes of Mongolia, Hoskinson outlined several ongoing or potential country-level projects. While discussing a pivot away from direct government contracting, he praised the emergence of private-sector engagements, such as microfinance initiatives that leverage Cardano rails. A true champion of the people! 🌍

First, Hoskinson recounted the tale of the failed project in Ethiopia: “When we entered Ethiopia, it was a promising nation […] five years later, all those promises evaporated and the government was getting allegations

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2025-02-03 10:44