Charles Hoskinson, the founder of Cardano, has consistently advocated the idea that the layer-1 blockchain could evolve into a trillion-dollar company. This notion has recently taken center stage on HoskSaid, a platform established by the founder to foster direct interaction between himself and users. Hoskinson envisioned the cryptocurrency industry transitioning from billions to trillions, and he identifies key drivers behind this anticipated growth, with demographics being a primary factor.
Earlier, he pointed out that individuals under the age of 35 are statistically more likely to own cryptocurrency than traditional assets like bonds, stocks, or gold. He emphasized that as this demographic group ages, their increasing wealth will drive greater interest and investment in the cryptocurrency asset class. Additionally, he anticipated governments embracing blockchain technology and incorporating it into vital systems such as voting and property registration, thereby enhancing the overall value influx into the industry.
Moreover, with more regulatory clarity, institutional investors would inject billions of dollars into the cryptocurrency space. Hoskinson believes that Cardano is strategically positioned to capture a substantial share of this evolving landscape, although he acknowledges the uncertainty regarding the timeline for such growth.
Cardano: Tussle With SEC
Despite the positive outlook, recent legal developments have cast a shadow over Cardano and other cryptocurrencies. The SEC’s lawsuit has classified ADA and Solana [SOL], among others, as securities. Hoskinson expresses frustration with the SEC’s stance, emphasizing that ADA’s initial sale in Japan through vouchers in 2017, later converted into ADA through an airdrop, occurred outside the United States. He asserted that these facts, which are inconvenient for the SEC, should be duly considered.
Hoskinson, a co-founder of Ethereum, launched Cardano in 2015 as an open-source, public blockchain. The project gained the moniker “Japanese Ethereum” due to its initial coin offering [ICO] in Japan, which marked one of the region’s largest ICOs at the time. ADA quickly ascended to prominence among cryptocurrencies by market valuation.
While the SEC’s legal actions have created turbulence in the crypto community, Hoskinson remains optimistic about Cardano’s long-term prospects, emphasizing the importance of factual accuracy in regulatory considerations.