Cardano founder Charles Hoskinson made a satirical remark in which he applauded the demise of five major banks and predicted that digital assets and decentralized finance [DeFi] would soon replace the current financial system.
Hoskinson wrote in his tweet: “If only we had a different way to run a banking system…if only we had a different kind of money.”
His tweets come in the wake of the numerous US bank collapses that set off a global financial crisis and have turned the spotlight on new decentralized alternatives.
Earlier in March, the Cardano founder shared his view on the unstable and volatile banks and how crypto ought to detach itself from these traditional legacy institutions.
Regarding Hoskinson’s suggestion to restrict using banks, he emphasized how cryptocurrencies have the potential to create fresh, decentralized alternatives to current financial infrastructure.
It will be interesting to see how the industry handles the regulatory environment as it develops and creates new decentralized financial systems.
Hoskinson in the past urged the crypto community to exercise caution during the banking crisis. In a tweet, the Cardano founder warned crypto investors to avoid over-collateralizing their holdings as they wait for the market to stabilize.
Recently, Cardano’s gaming partner Paima Studios announced the arrival of a new game from Dead Pxlz.
According to the announcement, Dead Pxlz, an NFT-based project will leverage Paima’s technology to create the upcoming PXL Wars game.
Cardano Gaming Boost
Speaking about the new development, Sebastien Guillemot, an active member of the Cardano community, tweeted,
“Super excited to work with Dead Pxlz to bring their vision to life. They’re an innovator in the NFT space. Super excited about what they’re building”.
For the uninitiated, Paima Engine is a novel layer 2 solution that allows the creation of on-chain games where the game state can be associated with NFTs.
By the end of the year, it hopes to increase the number of users it has and is actively striving to create a varied ecosystem of businesses that use its technology.
The collaboration with Dead Pxlz exemplifies the engine’s potential in the blockchain-based game industry.
A few weeks prior, the layer 1 blockchain revealed its integration with the top web3 gaming platform, enabling Cardano users to participate in on-chain games using ADA coins.
In the announcement post, Paima Studios stated that through this launch, it intends to make the L 1 blockchain a top gaming chain by user count.