Hoskinson dreams of the world blockchain

Attack is the best defense: Charles Hoskinson reacts in a video statement to Mark Cuban’s criticism with big plans for the future. If Hoskinson has his way, Cardano should reach a billion people in the future.

Stacking low is not exactly one of Charles Hoskinson’s virtues. Again and again, the Cardano founder surprises with daring predictions about his heart project and often rumbles in the direction of Ethereum. However, the fact that Hoskinson never tires of portraying Cardano as an ETH killer, although the platform is still not smart contract-capable, falls on his feet again and again. A few days ago, entrepreneur Mark Cuban joined the critics on twitter has criticized Cardano’s lack of added value – a great assist for Hoskinson.

Are you personally able to use ADA for anything? If so, what did you use it for? That is the question I ask about all cryptocurrencies. Are you using it for anything that is important to you?

Cuban to Hoskinson

However, Hoskinson initially evaded the not unjustified question of what Cardano could actually be used for at this point in time referred on the potential benefits of the blockchain:

We have five million students in Ethiopia, thousands of assets being spent on Cardano, a beautiful dApp ecosystem brewing for the launch of smart contracts, a new VC model with a catalyst, a huge community.

Hoskinson to Cuban

Cuban, however, was not impressed by the developments and offered a conversation as soon as “the platform stops brewing and starts serving users”.

Wonder point: smart contracts

Then it came to what is currently the most important question in the Cardano ecosystem: Why not put smart contracts on the network yet. Hoskinson’s Explanation:

We rebuilt the entire smart contract model. It took four years, but it’s necessary if you really want security and scale. No more DAO hacks, less off-chain code. Consistent operating costs. I also want all developers, not just Solidity developers.

Hoskinson to Cuban

But Hoskinson would not be Hoskinson if he left it to a Twitter exchange of blows. In one Video the Ethereum co-founder summarized the developments around Cardano and put the individual pieces of the puzzle into the big picture.

Cardano on the way to the world blockchain?

In his opinion, the question raised by Cuban about the benefits of cryptocurrency is not expedient. Rather, it is about overarching plans:

Where do we have to go? What do we have to do to have an ecosystem of a billion people, not a million people, and be able to sustainably provide a financial operating system for them?

So that one eighth of the world’s population can romp around on Cardano in the future, the entire smart contract model has to be readjusted in terms of security and efficiency:

We decided to redesign the entire smart contract model. First, because it’s not secure, and you can see that in the billions of dollars in customer funds that have been lost to unsecured, hacked apps. Second, it’s not sustainable.

Claim and Reality

Hoskinson has already found a key market. IOHK, the company behind Cardano, entered into a cooperation with the Ethiopian government a few weeks ago, in which the Atala PRISM identity solution, which is based on Cardano, is used for around five million students at 3,500 schools. Cardano is thus becoming an important interface for school operations, through which performance can be tracked and curricula can be coordinated. For Hoskinson, however, this is just the beginning of Cardano’s expansion in Africa:

In Ethiopia it took us over four years to negotiate during a civil war. And while the country is in the bottom 5 percent of the easiest to do business in, we’ve been able to get a deal for five million people that will grow to over 20 million people, which is one of the largest, if not the largest single store in our industry.

It is probably utterances like “a business that will grow to over 20 million people” or “an ecosystem with a billion people” that Hoskinson is gradually running out of his powder of praise. At Cardano, there is still a gap between claim and reality. Instead of pointing to the small successes, such as the smart contract upgrade that is actually approaching, Hoskinson focuses on the big picture that entrepreneurs like Cuban may not always find in the current lack of use cases. Cuban is also not very convinced. Somewhat sarcastically he comments on the video: “I really hope that your dreams will come true”.