Cardano (ADA) creator Charles Hoskinson says the next year will be crucial for crypto as the government makes groundbreaking decisions for the industry.
During the Cardano Community event, Hoskinson told attendees how the crypto space has significantly evolved since the inception of Bitcoin (BTC).
“In 2009, Bitcoin had no value. No one cared about it. It was fragile, a single person or entity. The hash rate would double or triple in a day. When they went on vacation, stopped mining, it would drop dramatically. See how fragile that is and look at it today.
I was in Mongolia not too long ago. A camel herder had it, think about that. You go to Dubai. You have a king who says we need to make some regulations about that. [Bitcoin is] nation-state adopted, that’s incredible… There are actually two – the Central African Republic.
Forty-four central banks were invited to El Salvador to have that conversation and that’s just the beginning. Ten years ago we were talking about how do we get PayPal to talk about us. It would be so great if Larry Page said something. It’d be really cool if Bill Gates mentions something. Well, lo and behold, everybody loves Bitcoin and no one likes Bill Gates. I think we won.”
But Hoskinson says he expects more things to happen to the industry in the next 12 months.
“In the coming 12 months, more is going to happen in this industry and in this world than has ever happened in the last 14 years in the cryptocurrency space.
Standards are going to be set, laws are going to be made, decisions are going to be made that fundamentally change how you use cryptocurrency, what you’re allowed to do, what you’re not allowed to do, who’s a criminal, who isn’t and we have some choices to make – do we want to live in a world of liberty and freedom or do we want to live in a world where people tell us what we’re allowed to do?”
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Featured Image: Shutterstock/90miles/Leremy
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