Charles Hoskinson, the visionary behind Cardano (ADA), recently unveiled his plans and discussions concerning the potential implementation of a RLUSD. During a candid ‘Ask Me Anything’ session, Hoskinson disclosed that discussions are underway, but the team has been advised to wait until March, post the completion of the New York Department of Financial Services (NYDFS) project.
In the session, Hoskinson revealed, “We talked to David Schwartz and Brad Garlinghouse. There’s a strong possibility we can negotiate (RLUSD). Ripple suggested that we wait until March as they have just wrapped up with NYDFS. We’ll see if there’s a roadmap and how they’ll proceed.”
Notably, despite the current bearish trend in the market, Hoskinson appeared unperturbed. He acknowledged that Cardano had taken a hit with a 19% drop in the last 24 hours and a 23% decline for the week. Yet, he highlighted that Cardano is still faring better than some of its key competitors such as Dogecoin, Solana, and BNB, which have seen even steeper declines.
Hoskinson attributes this market downturn to the over-exuberance surrounding Donald Trump’s presidency, which led to inflated expectations about a rapid surge in Bitcoin’s value. However, he remains bullish about the future, indicating that the cryptocurrency market is still robust and will continue to thrive despite these temporary fluctuations.
On the topic of government involvement, Hoskinson also touched upon the growing interest of the US government in blockchain technology. He predicts that in the next half-decade, blockchain integration will become a crucial part of various government systems, including voting procedures, procurement processes, and identity management.
In a thought-provoking suggestion, Hoskinson also hinted at the possibility of the US government establishing a Bitcoin reserve. He proposed that Cardano could be instrumental in this move, by providing decentralized finance (DeFi) solutions for the US government. This would further enhance Cardano’s position in the rapidly evolving blockchain ecosystem.
The information-packed AMA session with Hoskinson offers a glimpse into the potential future of Cardano, highlighting the possibilities and challenges that lie ahead. It’s clear that Hoskinson has a clear vision for Cardano’s role in the future of finance and government systems, and is prepared to navigate the inevitable fluctuations of the crypto market. With his confident outlook and ambitious plans, the future certainly seems promising for Cardano.
