Charles Hoskinson: The Crypto Industry needs a Bluetooth or a wifi moment

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  • The Cardano founder said in an interview that the crypto industry needs more interoperability.
  • Hoskinson’s vision is to easily trade communication and information, not just among cryptocurrencies, but also among legacy financial institutions.

Charles Hoskinson, the founder of Cardano, believes that the crypto industry is in dire need of more interoperability. During his interview with Cheddar, he said:

“Consumers kind of have gotten used to this idea that when they pull out their phone ー if they are in Korea, Japan, South Africa, or here in America ー that their phone will just connect to the WiFi network. But there’s no reason that should be true, that was only due to the hard work of an entire industry.”

Hoskinson’s vision is to easily trade communication and information, not just among cryptocurrencies, but also among legacy financial institutions:

“What we are seeing is a collection of standards being created [that]will inevitably converge over the next three to five years to create a situation where you can move information and value between all these different systems ー not just bitcoin to litecoin to ethereum to Cardano ー but also your regular bank account.”

To sum up his thoughts, Hoskinson concluded, “What we are looking for is the WiFi or Bluetooth moment of our industry. We haven’t quite gotten there yet.” 

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