Thursday, May 13, 2021

Charles Hoskinson Responds to Vitalik Buterin’s Concern for Next 10 Years in Financial Market

The CEO of Cardano (ADA), Charles Hoskinson has responded to a tweet shared by the co-founder of Ethereum (ETH), Vitalik Buterin, regarding what could play out in the financial market in 10 years from now.

In two consecutive tweets, Vitalik Buterin used Mark Zuckerberg, the founder of the largest social platform Facebook, as a case study to get his point across.

He wrote:

“Problem is these days we have no idea what will become critical 10 years from now. Is Facebook critical? Tell that to Zuck in 2004 and he’ll be surprised.”

Charles Hoskinson Responds to Vitalik Buterin’s Concern

Charles Hoskinson of Cardano (ADA) also joined the conversation, but with a contrary opinion to Vitalik Buterin’s Assertion, regarding the obscurity of what could be critical in 10 years from now.

Hoskinson asserted that building around meaningful innovation in the global financial market will make the future gets clearer. He also pointed at the necessity of decentralization in the coming years.

“We actually do. We have this thing called the global financial market. Been around for awhile. You need to replicate at least that functionality and do it safely and with meaningful innovation. As for decentralization, we also understand that pretty well too!” Charles Hoskinson shared.

The Significance of Charles Hoskinson’s Response

The context of Charles Hoskinson’s response shows his interest in showcasing the advancement of Cardano (ADA) network in the past 18 months, and what it will grow to become in 10 years from now.

The integration of Shelley from testnet to mainnet is expected this year. And this development will initiate the full decentralization of Cardano (ADA) network. This alone has been boosting the hope of the CEO, about the prospect of the digital asset this year and the coming years.

Banks Will Be Forced to Use Cardano (ADA) for their Services

The Cardanians, guardians of Cardano security and decentralization, also corroborated the assertion of Cardano (ADA) co-founder, Charles Hoskinson, in one of its recent tweets.

This tweet explains the significance of Hoskinson’s response to Vitalik Buterin’s statement. The post speaks about what is coming to global financial market in the coming years, and how banks will be forced to use Cardano (ADA) for their services.

“Banks cannot compete with public permissionless blockchain networks since only such networks will allow people to choose those who will be responsible for creating blocks. Banks will be forced to use Cardano for their services. People will be able to create their own banks,” the Cardanians shared.

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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