Cardano (ADA) founder Charles Hoskinson stated in a YouTube speech that Cardano's growing decentralization will act as a wake-up call for the entire cryptocurrency industry.
Hoskinson Says Cardano Decentralization Will Be A Wake Up Call For Other Coins
Hoskinson emphasized that Cardano is becoming more decentralized and effective day by day, underlining the relentless determination and progress of the project despite criticism.
As an ecosystem built entirely from the ground up, he launched the Cardano project as an asset that continues to grow and strengthen every month, noting that this is a development that other cryptocurrencies should watch out for.
Focusing on the implications of Cardano's strong decentralization, Hoskinson suggested that this development could eventually be institutionalized within cryptocurrency regulations.
He suggested that decentralization measures could become a core component of regulatory standards and serve as a litmus test to assess the legality and regulatory treatment of various digital assets.
He suggested that a decentralized cryptocurrency could be treated as a commodity or protocol, similar to the status traditionally given to decentralized systems such as the internet's Transmission Control Protocol (TCP).
It also warned of a potential regulatory divide where more centralized digital assets could face adverse conditions under the law.
Cardano's statement is a stark warning against potential centralized control with central bank digital currencies (CBDCs) and reaffirms its commitment to sound money and freedom principles.
*Not investment advice.
