Earlier this month, Crypto Insider reported on the split between IOHK and Emurgo from the Cardano Foundation. The three entities, up to this point, made up the triumvirate group which oversaw development of the Cardano blockchain project.
Cardano creator, Charles Hoskinson, spoke with Crypto Insider by video and addressed his specific concerns with the Cardano Foundation and detailed his complaints which he outlined in a public letter on Oct. 13.
Part 1: What happened at the Cardano Foundation and why did you send the open letter?
In Part 1 of our interview with Hoskinson, we discussed the Cardano Foundation, where it was failing, and how he intended to bring the failing organization back into the fold.
Since the time we spoke, Hoskinson updated the Cardano community on plans to create a brand new set of community-run organizations which would step in and supersede the Cardano Foundation, for at least the time being.
The plan would include IOHK and Emurgo, which operate as separate entities with different objectives to advance the Cardano ecosystem, each creating a community management arm, according to Hoskinson.
Part 2: Has the Foundation changed in the past 12 months or has the regulatory environment changed?
In the second part of our interview, I asked Hoskinson how he would respond to the Foundation assuming they would claim they have been acting appropriately, and whether he believes that increased scrutiny around cryptocurrency projects could explain some of the Foundation’s inaction.
As of press time, the Cardano Foundation still has released no public response to Hoskinson’s public letter nor addressed any of his criticisms. It’s also noteworthy that the foundation hasn’t tweeted since the day before Hoskinson’s letter was published.
Hoskinson’s bottom line for the Cardano community is that the Cardano Foundation is a nice thing to have, but it’s not necessary for the ultimate success of the project. Due to the way the project is structured, IOHK, a company founded by Hoskinson, and Emergo can continue developing and building out Cardano on their own.
His point about accepting the risk involved with operating in the current gray areas of regulatory uncertainty is well-taken across the entirety of the cryptocurrency space. To push forward with this new technology will involve some risks which must be undertaken to assume a leadership role.
This story is the first in a series of articles featuring our interview with Charles Hoskinson. Look for parts 3 and 4 next week covering Hoskinson’s thoughts on similarities with the Tezos Foundation troubles in 2017, and his thoughts on Blockstream’s Liquid sidechain as well as the future of smart contract platforms.