Cardano founder Charles Hoskinson has shared a bold vision that may drive better decentralization and self-governing systems in the protocol. In a video on X, Hoskinson shared reasons his plans would work.
He believes running a nation-state by 2030 might seem ambitious, but it remains achievable as Cardano can handle it.
Hoskinson believes that Cardano could support the governance of a nation-state with a population of millions. This means utilizing the blockchain for voting, governance, and currency management.
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The goal is to create a decentralized system that would function smoothly on smart contracts and on-chain decision-making.
The Cardano founder maintains that the vision is achievable if the community is bold enough to pursue it. He emphasizes that everything required to develop such a decentralized system—the people, resources, and technology—is within Cardano. He said,
“We can hold a revolution and take back our digital life.”
Hoskinson views the ecosystem as a way to empower individuals to resist centralization. He hopes people will reclaim their data, privacy, and governance from centralized systems. Hoskinson calls for collective action, determination, and coordination from the Cardano ecosystem.
He hints at an upcoming referendum to show that the Cardano community practices its core belief. At this event, the on-chain government will decide on the path for Cardano. He anticipates that with the past work of the last 7 years, Cardano should pull it off.
Hoskinson, however, challenged members of the community to avoid getting sucked into blockchain comparisons. He emphasized that all blockchains have the same goal. That is, to fight centralization and provide a better future for people using blockchain technology.
Cardano’s Technological Progress To Drive The Future
The Cardano network has undergone a series of upgrades and looks capable of Hoskinson’s ambitious vision. The latest is the Chang hard fork, which introduced the on-chain governance features.
Meanwhile, the Cardano weekly development report shows preparations for the node v.10.0 release are underway. Mithril distribution 2442.0 has also been released, while Catalyst Funds13 reviews are underway.
As for the state of the blockchain, it has built 1,376 projects and delegated 1.316 million wallets. The protocol has also processed a total of 97.92 million transactions thus far.
In his video message, Hoskinson tasked community members with stopping blockchain comparison. This influenced the decision of EMURGO, the commercial branch of Input Output Global, to partner with BitcoinOS.
The duo collaborated to launch a bridge for the Layer-1 network. Cardano and Bitcoin blockchains can now connect using the BitcoinOS Grail Bridge.
The objective remains to drive liquidity flow across both chains. As per the BitcoinOS protocol, with the new linkup, users could benefit from the zero-knowledge cryptography that powers the Grail Bridge.
What Is the Impact on ADA Price?
Amid these investments in the Cardano network, the community has maintained bullish sentiments. However, this has yet to help push up ADA’s price in the financial market. As of this writing, ADA price has lost 4.90% of its value to trade at $0.3284
Interestingly, in the last 24 hours, Cardano’s trading volume has soared by 73.85% to $440.58 million. Despite the price outlook, this spike might indicate the community’s confidence in the ecosystem.
