The founder of Cardano, Charles Hoskinson, delivered a keynote speech on the first day of the Binance Blockchain Week this year, held at the Dubai World Trade Center in the United Arab Emirates.
Addressing the audience, Hoskinson used his speech to touch on topics such as Bitcoin (BTC), Web 3.0, and philosophy, bringing up issues like what happens when the community moves out of the comfort of Bitcoin and into centralization.
“As blockchain networks become more advanced and powerful, we have to start making some difficult and uncomfortable philosophical decisions.”
The CEO raised questions about Web 3.0 and what the boundaries are between decentralization and regulation. “At what point do you cross the threshold where you’re no longer decentralized? Are you no longer the arbiter of trust?” Hoskinson asked an audience of blockchain enthusiasts from around the world.
“When you get out of the comfort of Bitcoin, you start to consider a lot of other ideas.”
He noted that since regulators have begun to study blockchain, issues that were previously not taken into account have begun to emerge. ideas like “at what point can we reverse a transaction?” and “if we can, at what point can we freeze your funds?”, are now appearing in discussions about the blockchain. “I thought we could never do that,” Hoskinson said.
Aside from this, Hoskinson also highlighted the importance of focusing on Blockchain technology and not just profit. He stressed that the blockchain brings fairness and equality to all, giving smaller entities a fighting chance.
“If you’re only here to make money, you lose everything that makes technology special.”
Although the Cardano founder did not directly refer to decentralized autonomous organizations, he said that people should be involved in the decision-making of blockchain projects. He described a future where DAOs may be the foundation of Web 3.0. “If we are truly decentralized, we have to figure this out for ourselves,” Hoskinson said.
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