The CEO of IOG, Charles Hoskinson, who created the emerging smart contract platform, Cardano (ADA), has reiterated his stance on the fact that cryptocurrency has come to stay and make the highly glorified central banks fade away.
In a new video shared on the ever-growing Cardano subreddit, Hoskinson stated that the crypto industry is here to take over from a system that is nepotistic, corrupt, slow, and expensive.
He mentioned many instances, whereby, the legacy financial system encouraged corruption to the point of empowering some of the worst human beings the world has ever known. He said the cryptocurrency industry is the new world order that is here to change the world.
Charles Hoskinson noted:
“Central banks will fade away, it’s just going to happen. The payment rails that are nepotistic, corrupt, slow, inefficient, and expensive will fade away.
“It wasn’t us who charge 15% in some of the poorest people in the world to move their money home to take care of their parents. It was the people who ran the whole system. It wasn’t us in this industry who charge 85% interest to lend $100 to farmers desperately trying to survive after a drought, it was the legacy financial system.
“It wasn’t our industry that laundered hundreds of billions of dollars for drug dealers in evaded sanction to participate in all kinds of these horrible programs that ended up enriching, empowering some of the worst human beings the world has ever known, it was the legacy financial system.
“And never allow them to say that our industry is the risk. Our industry is the antidote to the excesses, corruption, and nepotism that we found. This is the industry of frustration that has now been replaced by an industry of creativity and innovation.
“We are going to change the world, it’s just that simple. We didn’t ask for permission. We came here and we are going to get it done together. And there simply too many people now. The market is simply too large, the innovation is simply too vast. It’s going to happen. It’s no longer a question of “if”, it’s “when” and “how” would this dinosaur finds its way to survive in this new order. I have heard a lot about the new world order, but guess what, there is one, it’s us.”