Charles Hoskinson, the founder of Cardano, says the decentralized cryptocurrency project’s end goal is to provide a secure framework that offers people full-fledged economic identities.
In a new interview with Slot Leader, Hoskinson refers to Cardano (ADA) as a “financial operating system” that can adopt new services and scale seamlessly to account for any influx of new users.
“The general idea is that the system should be an end-to-end stack for economic identity. So what that means is that if some person in Senegal, or some person in Rwanda, or wherever, enters the system, they should be able to have some place to place their data and their identity, to build a reputation. They should have some way of getting credit. They should have some way of interfacing with a currency that’s reasonably stable, that they can send to anybody in the world. They should have the ability to interface with exchanges. If they have a business, they should have the ability to securitize that business, so they have banking services, insurance services, credit services, remittance services.”
Earlier this month, IOHK, the technology company behind Cardano, announced the formation of a public $250,000 fund to encourage developers to build decentralized applications (DApps) for the Cardano blockchain. The fund is in service of the Cardano blockchain’s upcoming “Voltaire” phase, which will introduce voting and treasury systems. Those systems will allow the Cardano community to decide on software updates, project funding and technical improvements.
