Logo
Cardano Ecosystem

BitcoinEthereumNews

07/15/2022

·

18.2K views


Cardano founder says blockchain can ‘radically’ transform how governments operate

The post Cardano founder says blockchain can ‘radically’ transform how governments operate appeared on BitcoinEthereumNews.com. As it grows exponentially, the blockchain and crypto industry opens plenty of possibilities to change the world as we know it, including how governments...

Cardano founder says blockchain can ‘radically’ transform how governments operate

Cardano founder says blockchain can ‘radically’ transform how governments operate

As it grows exponentially, the blockchain and crypto industry opens plenty of possibilities to change the world as we know it, including how governments operate, at least that’s how the Cardano (ADA) founder Charles Hoskinson sees it.

According to Hoskinson, blockchain technology could ‘radically’ transform the future, create better government services across the globe, and make them interoperable with each other – which is exactly what he plans to achieve, Yahoo Finance’s Brian McGleenon reported on July 14.

As he told in an interview with Yahoo Finance’s ‘The Crypto Mile’:

“In a global society, you don’t want one actor to have complete control over critical things and resources. The point of cryptocurrencies and blockchain technology is to take those resources that should be a public good, and if they’re digitizable, get them into a situation where they’re completely open, and basically then build businesses on top of that. But the underlying infrastructure is no longer controlled.” 

He underlined that in a centralized system, “one person basically gets to decide those rules, and oftentimes, those become very anti-competitive and they actually become anti-consumer,” ending up “hurting people or exposing people to a lot of market failures.”

Radical transparency of government services

Replying to the host’s question about the future global structure, Hoskinson said he didn’t anticipate the disappearance of the nation-state, but taking “lots of government services and [putting] them into a structure where they have radical transparency.”

In Hoskinson’s view, in such a world, all of a government’s tax revenue could be open source, and everyone can look into it, and see where the money is coming from and where it is going. This might have numerous beneficial effects:

“At the end of the day, you have less friction, less fraud, less waste, less abuse, more transparency, and ultimately, less consolidation of power. (…) If it’s truly a permissionless ledger, the poorest person, the most vulnerable person has equal access as the president of the United States does.”

Finally, he added that “there’s never been a time in human history that that has been the case.”

Meanwhile, Hoskinson recently criticized the Twitter ‘trolls’ who have asserted that the planned rollout of the Vasil hardfork would negatively affect the Cardano network’s smart contract functionality. 

As he highlighted, the network had taken the necessary steps to ensure the smart contracts are compatible with the upgrades, eliminating the need for rewriting, Finbold reported in early July.

Featured image via Charles Hoskinson YouTube.

Source: https://finbold.com/cardano-founder-says-blockchain-can-radically-transform-how-governments-operate/

Post navigation

AD

Delegate Your Voting Power to FEED DRep in Cardano Governance.

DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!


Read Original Article on BitcoinEthereumNews

ORIGINAL SOURCE

https://bitcoinethereumnews.com/blockcha...

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.


An image that says Learn Blockchain technology and get ahead in the industry with a link to the Cardano Academy.

More from BitcoinEthereumNews

See more
Cardano (ADA), Solana (SOL), and TMS Network (TMSN) Offer Exciting Opportunities for Crypto Investors in Q3 2023 – Cryptopolitan - BitcoinEthereumNews.com
BitcoinEthereumNews
Cardano (ADA), Solana (SOL), and TMS Network (TMSN) Offer Exciting Opportunities for Crypto Investors in Q3 2023 – Cryptopolitan - BitcoinEthereumNews.com

03/15/2023

·

1.6K views

Related News

See more

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)