Cardano founder declares 20th century economic order dead

During a recent live stream on YouTube, Cardano founder and Ethereum co-founder Charles Hoskinson said that the 20th century economic order is definitely dead.

Hoskinson went on to say that the recent recession in the global market has been triggered by the discordance within the economic chain of command made up of solid institutions such as governments, international organizations, companies within which some powerful bodies determine the fate of billion.

A world in decline?

According to the founder of Cardano, this structure that supports the global economy does not represent the coveted project of a decentralized world. In addition, Hoskinson said that the new decentralized order introduced by the development of blockchain technology is determined to handle the most acute controversies of the modern era such as identity, data ownership and privacy.

He says that in the world of decentralized order, CEOs and presidents will not be needed.

The founder of Cardano says that decentralization is the end of empires

Hoskinson believes that we are witnessing the evolution of the world order that is happening right before our eyes. He goes on to highlight how the convection system was destroying the past economy with concepts such as easy credit that caused many of the United States' national debt to inflate in less than two decades.

On the other hand, the 2020 Japan Olympics were to trigger Japan's vibrant economy. But unfortunately this will not happen because of the COVID-19 pandemic, which is generating a real global disaster.

The founder of Cardano then commented on the situation in Europe, where over 15 million people will have to be isolated to contain the spread of the disease. He speculates that the ongoing situation could result in the election of a populist government.

“We will probably see an Italian version of Brexit coming. And would the European Union survive if Italy leaves? "Says Charles Hoskinson.

Crypto means evolution of old methods

The rapid advancement of Hoskinson's concerns during the live, then touched the US plants and the rivalries between them. The founder of Cardano then argued that the cryptocurrency sector is not just about "fast returns" or the value of BTC that can be exchanged on automatic trading platforms such as Bitcoin System.

He says the digital currency industry is all about changing the way we do things by updating old methods. “It has everything to do with a global discussion about changing the way we do things, not just in institutions.

If we should act towards removing the general support of the institutions. " said Hoskinson. He added that decentralization is not influenced by politics, power, natural disasters or economic crises. But that is a good basis to think about since decentralization is similar to the rules of physics: it happens and cannot be changed.