In a recent video update titled “End of the Line and the Next Steps for 2024,” Charles Hoskinson, the founder of Cardano, shared his thoughts on the current political and economic landscape. Following his participation in the Salt Conference, which aims to challenge events like the annual Jackson Hole meeting attended by central bankers worldwide, Hoskinson expressed his dissatisfaction with the existing systems and presented ideas for a new direction involving decentralized governance and blockchain technology.
Reevaluating the Current Political Climate
Hoskinson began by discussing the expected political developments related to his favored presidential candidate, Robert Kennedy Jr., potentially exiting the race and supporting Donald Trump. He highlighted the systemic issues in American politics, criticizing how strategic alliances often overshadow genuine ideological commitments. According to him, the current political scenario may indicate a more significant underlying problem: “[We are] potentially in the middle of a World War… I no longer believe that the United States of America can fix things through elections at the federal level,” he remarked.
He then delved into the shortcomings of the political arena, particularly targeting the Democratic National Committee’s (DNC) actions to impede third-party candidates. Hoskinson pointed out the legal hurdles set by the DNC that hinder these candidates from being on the ballot, which he sees as undermining democracy. He stated, “Numerous third-party candidates, RFK included, have been directly targeted by the DNC to prevent them from appearing on the ballot.”
Challenges in the Cryptocurrency Industry
Expressing concerns about regulatory obstacles faced by the crypto industry, Hoskinson criticized attempts to inhibit innovation through legal actions. He cited instances like the SEC’s stringent regulations on American exchanges, which he views as part of a broader crackdown on cryptocurrencies by the current administration. Addressing proposed financial policies under the Democrats, he particularly critiqued Kamala Harris’s plan for a capital gains tax on unrealized capital gains, highlighting the intrusive nature of such measures.
A New Direction for Governance in 2024
Proposing steps for 2024, Hoskinson advocated for a restructuring of governance through decentralized principles found in blockchain technology. He suggested state-level initiatives to prompt a constitutional convention aimed at reforming American governance for increased transparency and reduced centralized power. Hoskinson emphasized the importance of systemic reforms that align with the ethos of blockchain technology.
He also intends to utilize Cardano’s technology to model these governance structures, planning a global assembly in December to draft a new constitution that could serve as a template for decentralized governance. Hoskinson envisions this effort showcasing the practical applications of blockchain in creating fairer and transparent governance frameworks.
Looking Ahead
Discussing future technological and economic challenges, Hoskinson stressed the necessity of effective governance to handle emerging technologies like cryptocurrencies, artificial intelligence, quantum computing, and nanotechnology. He questioned the ability of current and future administrations to regulate and incorporate these technologies wisely without succumbing to corporate influences.
In closing, Hoskinson reiterated his disillusionment with the traditional political process, stating, “I will never vote for a Republican or a Democrat again. I’m only going to vote for independents,” emphasizing his commitment to driving change through innovation and decentralization.
Cardano is currently trading at $0.3811.
