Although building a public blockchain network that can scale for billions of users has been a rough ride at times, Cardano creator Charles Hoskinson says the Cardano Foundation, whose leader, Michael Parsons, stepped down last year, is the engine that will drive the platform toward true decentralization.

In a new video on YouTube, Hoskinson reveals that the Foundation had a litany of problems — from bookkeeping to human resources to the lack of a proper internal control system — that needed to be addressed before it could resume its course of supporting project developments.

After experts were brought in to “clean up the mess”, Hoskinson says they set the Foundation on track to market the protocol.

“The single most important entity for the long-term decentralization of Cardano has always been the Cardano Foundation. And that’s because that’s the entity that will shepherd the process upon which community management is done.

That’s the entity that’s going to shepherd the meaningful relationships that are required for liquidity in the markets. It’s the entity that’s going to shepherd adoption. It’s the entity that’s going to shepherd the Cardano improvement proposal process and the gradual decentralization of Cardano to a point where it makes itself obsolete.”

Hoskinson, head of IOHK, the research company behind Cardano, believes that once the Foundation does its job, everyone should resign.

“We’re getting to a point where the Foundation is really starting to get proper infrastructure. It’s starting to get proper processes, starting to get proper people and personnel behind it to augment the existing personnel who were both demoralized and overworked because of a lack of care and focus and attention. 

And I have the utmost confidence and trust and faith in the people there, and I know that these people care about Cardano and have the requisite skills necessary to be able to complete that second phase and then shepherd the creation of a third phase and then, of course, resign.

The entire board, my preference would be, within a year to two years, should not be there. They’re an interim board. They’re there to fix things that should have been fixed, should have been running a long time ago. And after they’ve served their time, they’ll move on to brighter pastures. The entire Foundation then will be run by others who are totally independent of IOHK and other entities in the ecosystem.”

Follow us on Facebook           
Join us on Telegram            Follow us on Twitter



Check Latest News Headlines



Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here