Cardano founder considers the upcoming hardfork consequential in blockchain’s history.
The hard fork will unlock cryptocurrency’s most advanced governing stack.
Voltaire upgrade will unlock Cardano’s 1.5 billion ADA sovereign wealth fund.
Cardano’s Voltaire upgrade is the “most consequential” event in the blockchain’s history, according to founder Charles Hoskinson. He believes it will introduce the crypto industry’s most advanced governance system.
In his latest podcast, Hoskinson discussed the crypto industry at large, touching on various ideas within the crypto ecosystem, including the notion that it is an industry governed by the many, not just a few.
Hoskinson noted the challenges associated with building a decentralized network, considering there are no leaders in the decentralized crypto networks. Instead, the people unite as a community and decide what they want to do.
Focusing on the upcoming hardfork, Hoskinson mentioned the Cardano team has been dedicated to the project for the past two years, involving many people from over 25 countries to create the design SIP-1694. He described the process as the start of a minimal, adaptable government that could spread across many projects in the crypto industry.
Hoskinson expressed optimism for the future while noting the process leaves him with a bitter-sweet feeling, considering Cardano will be forever different. According to him, as of August 27, Cardano’s hardfork will combine concepts like liquid democracy with a constitutional republic that will enable and allow powerful institutions to pass and walk through stuff like budgets or roadmaps.
Additionally, Hoskinson noted the Voltaire upgrade will unlock the Cardano sovereign wealth fund containing 1.5 billion ADA. The Cardano founder believes the hard fork will create an amazing environment where people who don’t know each other, from all over the world, can collaborate through a blockchain.
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