Charles Hoskinson, creator of Cardano (ADA), declares the real clash in digital assets is now between cryptocurrencies and central bank digital currencies (CBDCs).
Hoskinson, CEO of Input Output Global, warned about the perils of CBDCs and praised the key principles of decentralized crypto in a recent Coin Bureau interview.
Hoskinson dispelled the notion that the battle lies within the crypto sphere itself. “The game is crypto versus CBDCs. Social credit and CBDCs for 1.2 billion people in China are already rolling out,” he stated. In his view, the advent of CBDCs will lead to transaction discrimination based on what is done with the currency and who holds it.
He further expressed concerns about the ESG movement’s potential impact on transaction control, citing examples of restricting fuel purchases as a climate change mitigation measure.
Hoskinson asserted that legitimate crypto projects stand as the antithesis of CBDCs. He reinforced the necessity of returning to principles-based financial systems and commented, “Every single cryptocurrency project that’s a real legitimate project is making contributions to fight that fight.”
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