Blockchain
Cardano founder and IO Global CEO Charles Hoskinson discussed Bitcoin’s biggest problem during an interview with Fox Business’s Maria Bartiromo: its limited functionality.
Hoskinson explained that Bitcoin can only perform a limited number of tasks, such as passing value, and it lacks programmability.
Hoskinson, who is also a co-founder of Ethereum, said Ethereum was developed to address Bitcoin’s limitations by introducing smart contracts and programmable money.
He compared the evolution of web browsers with the introduction of JavaScript, which enabled interaction with web pages and led to the emergence of platforms such as YouTube and Facebook.
In the interview, Hoskinson also spoke about the success of Cardano, launched in 2017, which now has more than 3.5 million users worldwide.
He highlighted the potential of blockchain technology to address complex issues across industries, particularly in situations where a consortium of actors needs to work together but don’t necessarily trust each other.
Regarding international economies adopting blockchain technology, Hoskinson recognized a global trend toward transnational, decentralized frameworks.
He argued that in the absence of a single national standard, blockchain could serve as a compromise solution, providing a transnational, decentralized framework with fairer rules for all, ensuring equal treatment and inclusion.
