Cardano's Hoskinson Criticizes Political System, Proposes New Blockchain Governance Model for 2024 - Crypto Economy

TL;DR

• Charles Hoskinson criticized the U.S. political and economic system, releasing a video proposing a shift towards decentralized governance.
• Hoskinson questioned the current political system’s ability to address serious issues and criticized the Democratic National Committee for blocking third-party candidacies.
• He plans to organize a global assembly to draft a new constitution that serves as a model for decentralized governance.
  

  ---

Charles Hoskinson, founder of Cardano, has shared a scathing critique of the current political and economic system in a recent video titled “End of the Line and the Next Steps for 2024.”

Hoskinson, who participated in the Salt Conference, offered a critical analysis of the state of American politics and the regulatory challenges facing the crypto industry. His message reflects deep dissatisfaction with the current political environment and proposes a radical shift towards decentralized governance based on blockchain technology.

Charles addressed the issues he perceives in American politics, noting that Robert Kennedy Jr.’s anticipated endorsement of Donald Trump symbolizes a broader problem in politics where strategic alliances often overshadow genuine ideological commitments. Hoskinson expressed concern that the political system cannot resolve its issues through federal elections, arguing that the country might be on the brink of a world war and that current political dynamics are insufficient to address these challenges.

Hoskinson also criticized the actions of the Democratic National Committee (DNC) for blocking third-party candidacies, describing these legal barriers as an assault on democracy. He specifically pointed out that the DNC has used tactics to prevent independent candidates from appearing on the ballot, which he considers a manipulation that undermines the democratic process.

Hoskinson Wants to Draft a New Constitution

On the other hand, he addressed the regulatory difficulties facing the crypto industry, citing the SEC’s measures against crypto exchanges and protocols in the U.S. He viewed these actions as part of a misguided crackdown on the industry by the current administration, describing the phenomenon as “Choke point 2.0.”

He also expressed concern about Kamala Harris’s proposed capital gains tax on unrealized gains, which he considers invasive and burdensome. According to Charles, such policies would require annual valuations of personal assets and could force the liquidation of assets to cover tax liabilities, giving the government excessive control over personal property.

In response to these issues, he proposed a series of steps for 2024, including promoting state-level initiatives to call for a constitutional convention. His goal is to reform governance to make it more transparent and less centralized, reflecting the principles of blockchain technology. In December, he plans to organize a global assembly to draft a new constitution that serves as a model for decentralized governance.

Finally, the founder of Cardano (ADA) emphasized the need for competent governance to manage emerging technologies such as cryptocurrencies and artificial intelligence, questioning the ability of current and future administrations to regulate these technologies without succumbing to dominant corporate interests. He concluded his message by stating that he will not vote for Republicans or Democrats in the future, and will only support independent candidates.