Cardano founder Charles Hoskinson has argued that the blockchain has the potential to become the foundational operating system for the entire globe.
In a recent video broadcast, Hoskinson asserted Cardano’s ultimate mission is to solve a multi-trillion-dollar global trust crisis.
Hoskinson has argued that the main problem plaguing modern society and global commerce is relying on centralized institutions.
“The cost of establishing trust on a global basis is in the hundreds of billions for just the well-regulated financial markets,” Hoskinson explained. “The goal of our entire industry is to shrink or remove all of these third parties on a global basis.”
Why only Cardano can succeed
According to Hoskinson, Cardano is the only network that possesses the necessary architecture to achieve this on a global scale.
He has named four core pillars that make the network completely unique: the Ouroboros consensus protocol, the extended UTXO accounting model, the modularity of partner chains like Midnight, and a decentralized governance structure.
“When you take these four things together, there is no cryptocurrency right now that has these properties,” Hoskinson declared. “It’s just a fact. We’re very unique in all of this.”
He heavily criticized competing blockchain networks for sacrificing decentralization in favor of speed.
“When I look at the competitors, we’re playing a different game than them. And that’s why we’re going to win,” he argued. “They’re chasing the flavor of the week, the company of the week, the announcement of the week. And we want to change the world. We want the world to be a better place.”
Beyond TVL
Ultimately, Hoskinson urged the Cardano community to stop focusing purely on metrics like Total Value Locked (TVL) or short-term token prices.
“If you solve this problem, not only do you create a lot of economic value, make billions of dollars, and congratulations, token go up, but more importantly, you create world peace,” Hoskinson stated. “Because once we can trust each other again, we’ll listen to each other. And once we can listen to each other, we can understand that the people on the other side of the aisle aren’t the enemy.”
