Saturday, April 10, 2021

Charles Hoskinson: We Are Working with Major Consultancy to Run an Entire Country’s Backend on Cardano

The chief executive officer of IOG, Charles Hoskinson, who is the creator of Cardano, an emerging smart contract platform, has recently revealed that the software firm is currently working with a major consultancy to run an entire country’s backend on Cardano blockchain. According to Hoskinson, it’s Cardano’s goal for 2025.

He made this known in a new conversation with Dr. Mihaela Ulieru. In the course of the conversation, he also hinted at a developing agreement with a large telecommunication company.

Read Also: Grayscale Confirms Consideration of New Products in ADA, DOT, LINK, XMR, XTZ, EOS

Charles Hoskinson noted:

“This is currently out of public knowledge, but in fact, I will make it public. In IOG’s goal for Cardano 2025, we are working with a major consultancy that will remain anonymous for the moment… It’s a big brand name. And one of the things we like is to run an entire country’s backend on Cardano. It’s the goal of Cardano 2025…

“E-governance is an example of what you think about it. For example, HashCash and DigiCash were products of Bitcoin. There are kinds of Governance that can run on blockchain, an example is the Estonian project, but they tried to digitize it as much as possible on their economy, but didn’t quite work well as they hoped.

“So, it’s an interesting but incredibly classic problem of “how do you actually govern” a country on the blockchain…”

Cardano (ADA) Counts Down to Full Decentralization on 31st March

As recently published by IOG, Cardano (ADA) is currently counting down to full decentralization of the network, which is expected to play out on 31st March 2021.

According to the report, at the end of March, Cardano will see d, the parameter that governs what percentage of transactions are processed by the genesis nodes, reach zero.

Read Also: Dubai-Based FD7 Ventures to sell off $750M worth of BTC for Cardano (ADA) and Polkadot (DOT)

This attainment will make the responsibility for block generation become fully decentralized. This also implies that Cardano’s network of over 1800 community pools will be solely responsible for producing blocks.

IOG tweeted, “NEW BLOG: Cardano decentralization continues apace, as we get ever closer to full SPO block production on D=0 Day at the end of March. Here’s an update on where we have come from and where we are going…”

Read Also: Charles Hoskinson: Cardano Is Working On Gaining Celsius, Fireblocks, and Prime Trust’s Support

The day d becomes zero will be a landmark moment in Cardano’s continuing journey, the report added. When Shelly was deployed in late-July 2020, d was set to an initial 1.0, indicating that every block was produced by IOG’s network of federated nodes. However, this will completely turn around on 31st March when d reaches zero.


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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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