Cardano’s creator, Charles Hoskinson, believes that the fifth-largest cryptocurrency could facilitate the “greatest wealth transfers in history” by creating a whole new lending and borrowing ecosystem that will boost growing economies around the world.
Hoskinson shared his thoughts on what would constitute his vision of success for the platform via a live stream on March 19th from his home in Colorado.
These live streams have become a regular way for Cardano’s creator to share his thoughts on technology, cryptocurrency, and the network’s development with thousands of crypto enthusiasts.
In the latest stream, Hoskinson expressed that in his eyes, “success for Cardano“ would mean the creation of a global ecosystem in which investors like him could loan money to any person around the globe and being paid back, generating gains over and over.
Creating such an ecosystem would require the development of multiple solutions powered by blockchain technology before being possible on the global scale envisioned by Hoskinson.
These factors include identity, metadata, and payments systems that are supported by a social framework that ensures global accessibility.
This ecosystem would allow corporations to use Cardano as a treasury management function due to the higher interests developing countries could offer.
This would be, “the greatest wealth transfers in human history, from the developed rich world to the developing not-so-rich world. Not because of charity but because it makes business common sense,” according to Hoskinson.
Hoskison also highlighted the importance of such an ecosystem facilitating the exchange of cryptocurrencies to fiat currencies in international jurisdictions as a means to facilitate investment in developing countries.
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