Logo
Cardano Ecosystem

Bitcoinist

11/27/2023

·

62 views


Cardano Founder Hails Argentina's New President As "Perfect"

Charles Hoskinson, the founder of Cardano, a smart contract platform, is endorsing Argentina’s newly elected president, Javier Milei, describing the leader as “perfect” for navigating the Latin American...

Cardano Founder Hails Argentina's New President As "Perfect"

Charles Hoskinson, the founder of Cardano, a smart contract platform, is endorsing Argentina’s newly elected president, Javier Milei, describing the leader as “perfect” for navigating the Latin American country towards a crypto and blockchain future. 

Charles Hoskinson Backing Argentina’s New President

In a podcast shared on X by Lucas Macchiavelli, the co-founder of Latam Cardano Community, Hoskinson believes that Milei’s “commitment” to freedom and preference for alternative financial systems away from centralization align with blockchain and crypto principles. To clarify, Bitcoin, Cardano, and all public ledgers depend on the community to function as intended.

Cardano price trending upward on the daily chart | Source: ADAUSDT on Binance, TradingView
Cardano price trending upward on the daily chart | Source: ADAUSDT on Binance, TradingView

Milei, a staunch libertarian, has long advocated for Bitcoin, a decentralized currency, to escape the clutches of fiat and its inherent vulnerabilities to inflation and manipulation. Accordingly, when Milei was elected last week, pro-crypto supporters were ecstatic, expecting the technology to permeate even deeper in Argentina. 

It is along this view that Hoskinson, in the podcast, said Argentina now has a chance to be the center of a revamped financial system after putting in power a leader who “understands that the government is the problem.”

As it is, the prospect of Argentina embracing Bitcoin, following the path of El Salvador, as an alternative to the struggling Argentine peso explains the general excitement following Milei’s win. The peso has been plagued by hyperinflation and devaluation for years, if not decades. 

Subsequently, Argentina’s purchasing power has been shrinking while stifling economic growth. Top crypto coins, including Bitcoin, are legal in Argentina and remain in high demand.

When campaigning for office, Milei promised to shut down the central, saying the matter was “non-negotiable.” Ahead of what could be a seismic development for Argentina, the president is putting up a team to execute this promise once they take over office on December 10. 

Will Cardano Be The Choice If Argentina Goes All-Crypto?

How the president will dollarize the economy and even replace the peso is unclear. However, the prospects of crypto being embraced in the country would be boosted for open ledgers like Cardano. 

Cardano is actively developing and has previously worked with enterprises and governments. In 2021, IOG, the team developing Cardano, said they would create an on-chain solution to see Ethiopia’s secondary school students safely archive their academic records. 

For now, it remains unclear whether IOG and Hoskinson will convince the Milei’s government to deploy solutions on Cardano if Argentina goes the crypto and blockchain way.

Feature image from Canva, chart from TradingView

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

Dalmas Ngetich

Dalmas is an experienced journalist with over a decade in Forex, general finance, technology, and blockchain developments. He is currently a crypto reporter for Bitcoinist, where he covers DeFi, blockchain, DeFi, and latest industry news. His work and that of his partners have been featured in top news outlets, including Forbes, investing.com, CoinTelegraph, and Entrepreneur, among others. He is passionate about technology and politics and is always on the lookout for the latest trends in these fields. He also loves spending time with his family and friends, exploring nature, and traveling to new places. Connect on X: @Dalmas_Ngetich, or message him directly on Telegram here: @Dalmas_Ngetich.

AD

TapTax - Cardano Crypto Taxes Made Simple. Available Now!

Simplify your Crypto Tax experience! From a passive holder, to day trader, to NFT project, we have your taxes covered.BUY NOW!


Read Original Article on Bitcoinist

ORIGINAL SOURCE

https://bitcoinist.com/cardano-founder-h...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


Genius Yields DEX Launched!

More from Bitcoinist

See more
Kraken Fires Back At US SEC, Points To Legal Precedent | Bitcoinist.com
Bitcoinist
Kraken Fires Back At US SEC, Points To Legal Precedent | Bitcoinist.com

last Friday at 12:00 PM

·

8 views

Related News

See more
Genius Yields DEX Launched!

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)