During a new interview with Fortune, Cardano creator, Charles Hoskinson who is also co-creator of Ethereum and founder of IOHK talked about the evolution of crypto and the many ways in which digital assets can uplift billions of people.
Cardano’s target is to solve difficult real-world issues
He said that Cardano’s goal is to apply the tech to solve extremely difficult real-world challenges by applying it to “the most hostile places that you can imagine – the developing world.”
He said that “We often say that Cardano is the financial operating system for the countries that don’t have one. We really want to be the entity that solves the remittance problem. And we really want to be the protocol that solves the micro-finance problem, and get those loans down from 35% interest to 5% interest.”
Hoskinson continued and explained that “We’d really like to be able to find a way to extend these cryptocurrency protocols into environments that basically are off-line. How do you use a cryptocurrency if you don’t have access to the internet? How do you use a cryptocurrency if you only have a sporadic ability to recharge your phone or your laptop?”
Getting the unbanked back into the financial system
He says that these are the real-world problems and domains that they want to push the third-gen technology towards.
The primary goal is to get the unbanked back into the financial system so that these people can prosper as well.
Hoskinson continued and praised Bitcoin and Ethereum for building popularizing decentralized systems, although he says that these systems can get too clogged.
The solution to this issue is reportedly scalability.
He goes further and says that this is the very first time that we’re flirting with the idea of a company without a CEO or a country without a president.