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Cardano's Charles Hoskinson: Goodbye 20th Century, Cryptocurrency is the Future

A few days before the crypto market crash on Thursday, in this video update, Charles Hoskinson, the co-founder of Cardano (ADA) and Ethereum (ETH) projects, and the CEO of IOHK, discussed the prospects of the looming global economic depression and what does it mean for the nascent cryptocurrency industry.

"Really, what we are looking at right now is the unraveling of the economic order of the 20th century," he said. Read More

Hoskinson went on to explain that people no longer have faith that contemporary institutions can protect us and address the issues of the 21st century effectively.

"The cryptocurrency industry has nothing to do with fast returns or dealing with volatility or the price of bitcoin. It has everything to do with the global conversation about changing the way we do things. We no longer need a central authority, we no longer need presidents, kings, governors, leaders, CEOs to get things done."

According to him, these systems will be available to billions of people within five years.

"Should a global pandemic upend and push us into a depression? Do you think people are gonna want to live in a financial system where their bank accounts can be shut down at any time? <...> The fundamentals of our industry are far more sound than the fundamentals of the legacy system we intend on replacing, and as bad as things can be, they could be worse," Hoskinson says.

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