Co-founder of Cardano (ADA): Crypto Space will replace the traditional financial system
Cardano co-founder Charles Hoskinson has revealed that he believes the cryptocurrency space will take over the traditional financial system and change the world in the near future through the innovation it contains.
In a video posted to YouTube, Hoskinson explained why he believes the nascent industry will become a dominant force solving some of the problems that the traditional financial system is currently facing. He said the industry is “the antidote to the excesses, corruption and nepotism that we have found.”
For Hoskinson, the traditional financial system has “now been replaced by an industry of creativity and innovation. We are going to change the world; It’s as simple as that. For the co-founder of one of the largest cryptocurrencies by market cap, there are simply too many people for the crypto space to be forgotten now, and “markets are too big” while “innovation is simply too large “.
He added that it’s no longer a question of if, it’s when and how these dinosaurs find a way to survive in this new world order. Hoskinson also said that while cryptocurrencies may be in their infancy, he sees the industry maturing quickly and said that over the next 10 years, “there will be more progress in monetary policy of our industry than the last 100 years of central banks “.
The Cardano co-creator added that over the next decade he sees the cryptocurrency space become more advanced in financial engineering and building financial products than it has been over the course of the decade. of the last 100 years on Wall Street. Likewise, he sees more progress on the constant movement of crypto wealth than through the Bank for International Settlements (BIS) and other fixed protocols.
Hoskinson also believes that while the cryptocurrency market has largely followed the price movements of BTC, some projects may disassociate themselves from the flagship cryptocurrency this year. As the Daily Hodl reports he said:
Unlike previous cycles in 2017 and 2018 compared to where we are today, we are now in a situation where we have decoupled from Bitcoin, and people are starting to realize that while [Bitcoin] was a great experience, it’s not the end of everything and there is more to the story
As CryptoGlobe reported, Hoskinson revealed in a ask me anything (AMA) session that he is now a cryptocurrency billionaire, even after the cryptocurrency market crash that saw the prices of some crypto-assets drop as much as 40% and commented on the decline.
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