Cardano founder Charles Hoskinson Talks About Web 3.0 And Decentralization

Cardano founder Charles Hoskinson gave a 15-minute speech on decentralization and Web 3 at Binance Blockchain Week. In his opinion, people can use the gift of decentralization or ignore it, but it’s up to the people themselves to decide. He appealed to the crypto community to actively help shape the future of Web 3.

After a brief introduction about the fundamental problems that blockchain technology aims to solve, the Cardano founder asked what will happen to the crypto technologies that can do more than Bitcoin. He also urged people to take action.

Charles Hoskinson went on to state that there is a real need for more education on the subject of decentralization. Otherwise, Web 3 would become a modern Web 2. “Google, Amazon and Facebook already have as much power as secret services,” he warned. In his opinion, the crypto and blockchain industry has become indispensable. Crypto exchanges like Coinbase already manage 40 million users. Soon, crypto will grab the world’s attention like the internet did back then, he explained. But he warned again of the possible consequences.

“As an industry, we either have to choose to learn from the past or we just wish it all happened again. There are two paths before us. In the first, we maintain our integrity. We look at decentralization and to define and understand it.” he said. “In the next 5-10 years we will have custodians, we will have escrow keys, highly optimized, highly centralized consensus algorithms that can be reset at any time. Few could control the crowd, that’s the decision. And I don’t make that decision, you all do that.”

Finally, he wished that in the future we can live in a peaceful world where we can keep the fruits of our labor. Decentralization makes that possible for him. The Cardano founder believes that many of the problems solved in crypto can also be solved in the real world. Charles Hoskinson remains optimistic: He predicts that the future will be decentralized and that we will make “right” decisions.

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