Cardano (ADA) founder Charles Hoskinson reveals he believes the innovation on the cryptocurrency’s blockchain is to “run a nation-state” in the future.
Noting that Cardano will offer a solution to many of the governance problems that affect the world today.
Bloomberg reports Hoskinson’s words is at the Cardano Summit broadcast. While in broadcast, Hoskinson explains that Cardano’s ecosystem will work on a wide variety of projects.
For instance, starting from ways to run the currencies of nation-states to voting systems.
Furthermore, The blockchain should soon see a lot of “real-life data about how to do governments differently,”
“You could run a nation-state on this type of infrastructure…”
“…not today, but in three to five years, definitely possible.”
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Also, Hoskinson adds that Cardano is trying to place itself as a legitimate option
“for at least some of these systems and some of these institutions.”
Projects on Cardano is seeing massive growths since after the network’s Alonzo upgrade.
More so, The network is working on a blockchain-based digital identity system for students and teachers in Ethiopia…
“People are fundamentally unhappy with governance…”
“…There’s an appetite for new systems, new ways of governance, new types of institutions.” Notably, Cardano’s ADA token witnessed a price surge over 2,800% over the last year.
Currently, its now the third-largest cryptocurrency by market capitalization only behind Bitcoin and Ethereum.